SecureLife – Individual life insurance for those who have been declined for medical reasons

Fact: Roughly 4% of life insurance applications in Canada are declined each year. This represents an estimated 35,000 policies and $7 billion coverage. 80% of these declines are due to medical reasons.

SecureLife has been designed specifically to enable many of your clients that have been declined elsewhere for medical reasons to obtain valuable life insurance coverage.

Through a combination of special plan design features and unique special risk underwriting expertise and experience, we can offer coverage to many otherwise uninsurable individuals. Among the more common medical conditions we have been able to insure are:

• Diabetes
• Heart disease
• Cancer survivors
• Obesity
• Alcohol, drug abuse
• Mental disorders
• Kidney transplants
• Multiple conditions

Highlights of the SecureLife Plan include:

• Level term insurance for 20 years (or until age 75, whichever occurs first)
• Issue ages 20 to 65
• Face amounts $50,000 to $500,000*
• Fixed pricing – Most of those who qualify for coverage will pay the published and quoted rates. A 2nd tier of rates, roughly 40% higher, allows us to offer coverage to many others that would otherwise be declined.
• Innovative optional Premium Refund Rider
• Full underwriting, full benefits from issue

* for larger needs we can offer supplementary accidental death coverage through Lloyd’s, London

Next time you have a life application declined, you owe it to yourself and your client to check out SecureLife. You have already invested your time in making a sale. With a little additional effort you may be able to help your client obtain this important coverage.

SecureLife is insured by ACE INA Life Insurance, a member of the ACE Group of Companies, one of the world’s largest and most innovative providers or insurance products and services.
 

Please refer to our SecureLife Advisor’s Guide for details on:

• Plan Information
• Underwriting requirements
• Pre-screening guidelines
• Premium rates

Here are the steps to follow in applying for SecureLife coverage:

1. First check the Pre-screening Guidelines (page 5 and 6 of the Advisor’s Guide to verify that your client’s medical condition is not listed as one that we are unable to consider for coverage.
    
2. Run a Sales Illustration
    
3. Before submitting an application, we encourage you to consider submitting a preliminary inquiry by printing out and completing the appropriate questionnaire below, and faxing (416-322-6846) or emailing () Preliminary Underwriting Questionnaires: 
   
   
   • Alcohol
   • Anxiety, Depression, Mental Disorder
   • Build
   • Cancer
   • Coronary Artery Disease (CAD)
   • Crohn’s Disease and Ulcerative Colitis
   • Diabetes
   • Driving
   • Drug Usage
   • Heart Disorder (other than CAD)
   • Hepatitis C
   • Multiple Sclerosis
   • Stroke
   • Miscellaneous 
      
4. Have your client complete the Application Form. Important: We will NOT begin underwriting until we receive a FULLY completed application.
    
5. Submit:
   (a) the fully completed application
   (b) signed and dated page 2 of sales illustration
   (c) void cheque – DO NOT COLLECT A PREMIUM DEPOSIT WITH THE APPLICATION. Premiums, including the first, will be deducted by pre-authorized withdrawal commencing from the effective date of coverage, if approved.

Important:

If you are not already contracted with us, we will initiate contracting upon receipt of an application. To begin processing, however, we will request a copy of your current license, and proof of E&O coverage.

DO NOT REQUEST OR ORDER ANY MEDICAL EVIDENCE. We will obtain all necessary underwriting requirements after initial review of the fully completed application.

We will not underwrite coverage concurrently with another insurer. If you are submitting an application to another insurer, please do not submit a SecureLife application unless/until the other application is declined.

If any existing insurance is to be cancelled or changed as a result of appr