November 12, 2018 09:30
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Humania Assurance has converted its traditional product Prosanté Cancer Insurance product for critical illness insurance Web, called 5575 Cancer Insurance.
The insurer in Saint-Hyacinthe wants to mark that it is particularly the age group 55 to 75 years, even if the product is available to 18 to 80 years of age.
The product takes the form of term insurance in which the payment (the premium) is guaranteed for the first ten years. Subsequently, it will increase in each period of 10 years. The protection ends when the insured person reaches age 91.
Up to six diseases covered
The new product covers the cancer and allows the insurer to purchase an option that will protect also of five other diseases, or severe conditions : cerebral vascular accident, coronary artery bypass, heart attack, paralysis and coma.
With 5575, the insured may receive an amount of insurance up to $ 75,000 in the case of a cancer major, or other covered condition, so that the amount of insurance is limited to $ 25,000 in Prosanté.
Seven cancers minors
5575 also covers seven cancers minors, in each case at a rate of 15 % of the amount of insurance purchased by the insured. In the event of death, beneficiaries will also be 15 % of the amount of insurance purchased by the insured.
Seven questions to ensure
Seven questions help to determine if the client is insurable and to what amount. For example, the client to which a member of the immediate family has already suffered either a colorectal, breast or ovaries, may not ensure a maximum of $ 50,000. Clients diagnosed for cancer or waiting for a diagnosis is not able to ensure by virtue of 5575.
Kim Oliphant commented : to be read in FlashFinance.ca
Learn more ! Please read the comments from Kim Oliphant, vice-president, sales and marketing strategy of Humania Assurance, in our edition of November 12 FlashFinance.ca, an e-newsletter, Web wall charges published by the Journal of insurance.
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