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Health priorities - Child, 20 pay

Health Priorities – Child, pays a tax-free lump-sum benefit to your client, if the insured child is diagnosed with any of the 29 critical illnesses and conditions covered, including 3 childhood diseases. It also offers return of premium options and no survival period for cancer.

Families with good incomes who wish to insure their child`s future are the target market for this product.

Features

Main features

  • 29 critical illnesses and conditions are covered, including 3 childhood diseases, and over 15 less severe diagnostics and treatments which allow a paid advance on the amount of insurance.
  • The only coverage in Canada that covers all types of cancers along with exclusive cardiovascular procedures.
  • No survival period to satisfy except for cardiovascular conditions and procedures (30 days)
  • When the return of premium upon death (ROPD) option is selected, the amount payable upon death is always equal to at least 25% of the insurance amount.
  • A refund of premiums to the client at the end of the policy (ROP).
  • An amount is paid regardless of whether a loss of independent existence is temporary or permanent.
  • Complimentary assistance services, provided by Assistel.
  • Second medical opinion.

Critical illnesses and conditions

Childhood diseases *

  • 1. Autism spectrum disorder
  • 2. Rett syndrome
  • 3. Cystic fibrosis

Cancers and Tumours:

  • 4. Benign Brain Tumour
  • 5. Cancer (Life-Threatening)

Cardiovascular:

  • 6. Aortic Surgery
  • 7. Coronary Artery Bypass Surgery
  • 8. Heart Attack
  • 9. Heart Valve Replacement or Repair
  • 10. Stroke (Cerebrovascular accident)

Neurological:

  • 11. Bacterial Meningitis
  • 12. Dementia, including Alzheimer’s disease
  • 13. Motor Neuron Disease
  • 14. Multiple Sclerosis
  • 15. Parkinson's Disease and Specified Atypical Parkinsonian Disorders

Vital Organs:

  • 16. Kidney Failure
  • 17. Major Organ Failure on Waiting List
  • 18. Major Organ Transplant

Accident and functionnal loss :

  • 19. Acquired Brain Injury
  • 20. Blindness
  • 21. Coma
  • 22. Deafness
  • 23. Loss of Limbs
  • 24. Loss of Speech
  • 25. Paralysis
  • 26. Severe Burns

Other:

  • 27. Aplastic anemia
  • 28. Occupational HIV Infection
  • + Long-Term Care

* The possibility to add an additional 3 childhood diseases to the contract (Cerebral palsy, muscular dystrophy and type 1 diabetes).

Long-Term Care coverage

  • In case of loss of independent existence where the insured has reasonable chances of recovery, 15% of the amount of insurance will be paid, up to a maximum of $25,000.
  • If the loss of independent existence ends up being permanent, any advance paid will be deducted from the amount of insurance payable.

Advance for less severe diagnosis and treatment

Minor cancers and cancer-related surgeries

Early-stage cancers: (Only one advance for the duration of the coverage)
  • Carcinoma in situ
  • Chronic lymphocytic leukemia – stage 0
  • Cutaneous lymphoma without distant metastasis
  • Dermatofibrosarcoma
  • Ductal carcinoma in situ of the breast or lobular carcinoma in situ of the breast
  • Malignant gastrointestinal stromal tumours
  • Malignant carcinoid tumours
  • Malignant melanoma – stage 1
  • Papillary thyroid cancer or follicular thyroid cancer – stage 1
  • Prostate cancer – stage T1a or T1b

The early-stage cancers listed above pay 15% of the amount of insurance (maximum of $50,000). If an advance of 1% has already been paid for a cancer not mentioned above (see the Other cancers section), it will be deducted from the 15% advance. Moreover, no amount will be paid if an advance for an ablation surgery has already been paid.

Ablation surgeries: (Only one advance for the duration of the coverage)
  • Total mastectomy
  • Total prostatectomy

The two ablation surgeries above pay 30% of the amount of insurance (maximum of $100,000). If an advance has already been paid for an early-stage cancer or another cancer (see the Other cancers section), it will be deducted from this advance.

Other cancers: (Only one advance for the duration of the coverage)

All other cancers not listed above pay 1% of the amount of insurance (maximum of $5,000). If an advance has already been paid for an early-stage cancer or an ablation surgery, this 1% advance won’t be payable.

Note for cancers:

If the client receives an advance payment for the early-stage cancers, ablation surgeries and other cancers, he remains covered for all the other illnesses covered by his contract, including life-threatening cancer.

Minor cardiovascular conditions and procedures (Only one advance for the duration of the coverage)

  • Aortic aneurysm
  • Coronary angioplasty
  • Endovascular treatment of aortic aneurysm or disease
  • Insertion of cardiac pacemaker or cardiac defibrillator

The minor cardiovascular conditions and procedures listed above pay 15% of the amount of insurance (maximum of $50,000).

Product description

Issue age (age at nearest birthday)

  • 0 to 25 years old
  • 0 to 17 years old, with additional disease option
  • The application can be completed as early as 24 hours after the birth of the child
  • The contract can be issued as of the age of 15 days of the child
  • The declaration of good health will be required for any application submitted before the child is 15 days old

Amount of insurance

Age 0 to 25 years old:

  • Minimum: $10,000
  • Maximum: $1,000,000

Critical illnesses and conditions

  • 29 critical illnesses and conditions
  • 3 additional disease option
  • Advance paid for more than 15 treatments of some less severe conditions
  • Long-term care: an amount is paid regardless of whether the loss of independence is temporary or permanent.

Rate bands

  • $10,000 - $24,999
  • $25,000 - $49,999
  • $50,000 - $99 999
  • $100,000 - $249,999
  • $250,000 - $499,999
  • $500,000 and over

Premiums

  • Level and paid up after 20 years.

End of coverage

When the first of the following occurs:

  • The benefit is paid (if 100% of the insurance amount is paid)
  • The death of the insured
  • The premiums are refunded

Annual policy fee

  • Basic coverage: $40
  • Additional coverage: $20

Coverage option

  • Individual

Return of Premiums on Death (ROPD)

The higher of the following would be paid:

  • 100% of all premiums paid or
  • 25% of the insured amount.

Premiums paid include:

  • Premiums and substandard premiums for the critical illness coverage
  • Premiums and substandard premiums paid for the “specific additional coverages” related to the critical illness coverage
  • Charges associated with payment frequencies other than annual
  • Policy fees related to critical illness coverage

Premiums paid don’t include:

  • Premiums paid for other coverages under the same contract (e.g., other CI coverages, life)
  • Premiums paid for non-specific additional coverages (e.g., fracture, dismemberment)

This option cannot be withdrawn after the policy is issued.

Return of Premiums (ROP)

Mandatory on cancellation (100% refund after 20 years).

Refunds scale

Anniversary ROP included automatically
1 to 3 0%
4 10%
5 20%
6 30%
7 35%
8 40%
9 45%
10 50%
11 55%
12 60%
13 65%
14 70%
15 75%
16 80%
17 85%
18 90%
19 95%
20 and + 100%

Who receives the ROP, ROPD or benefit?

  • CI: Beneficiary
  • Refund of Premiums upon Death (ROPD): Beneficiary
  • Refund of Premiums (ROP on cancellation): Policyowner

Rate reduction program

Yes, eligible for the Rate reduction program.

Sales Material

To order, complete and submit the marketing supply requisition form.

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