Simplified Term Life Insurance or no medical term life insurance is steady protection you can count on. Simplified term life insurance offers a flat monthly cost that won't change for the first 10 years. You can choose your coverage for $50,000, $75,000 or $100,000. It’s called “simplified” because you only have to answer three questions about your health. Plus, you have instant temporary coverage while we review and process your application.
It’s great for Canadians who want to get insurance online with fast coverage.
Anyone legally living in Canada between the age of 18 and 69 can apply for Simplified Term Life Insurance. You’ll need to answer three simple questions about your health that relate to:
If you don’t provide accurate information when you apply, your insurance could be cancelled, or claims denied.
The more information you provide about yourself, the less you typically pay for life insurance. You only have to answer three health questions to apply for Sun Life Go Simplified Term Life. That means this type of insurance typically costs more than life insurance that requires more health information from you. If you’re in good health, consider applying for another term life insurance product. One where you'll give more health information.
We guarantee that your monthly payments will stay the same for the first 10 years. After that, the policy will renew each year. As a result, the monthly payments will increase each year, based on your age. But we won’t ask you any questions about your health. We’ll notify you of the renewal at least 30-days in advance.
You can apply for different coverage amounts such as $50,000, $75,000 or $100,000. All the coverage amounts are eligible for a 10-year term only.
In the first two years your policy takes effect, we won’t pay the claim if you take your own life. This is regardless of whether you have a mental illness or understand or intend the consequences of your action(s). We’ll refund all monthly payments you’ve made, minus any administration fees.
If you apply for Sun Life Go Simplified Term Life Insurance more than once, we’ll cover you for up to $100,000 in total.
We won’t pay benefits within the first 90 days of the policy if:
a) You take your own life. This is regardless of whether you have a mental illness or understand or intend the consequences of your action(s).
b) on the date you signed the application for insurance, you:
Find more exclusions and limitations in the Sun Life Go Simplified Term Life Insurance sample policy.
This policy provides immediate insurance coverage until it ends. This is described under “When the temporary insurance policy ends (Termination)”.
If you die before we let you know of our decision on your application, we'll still pay the claim. It will be equal to the amount of life insurance you applied for. This is dependent on the conditions and exclusions set out below.
The temporary insurance policy starts on the date you:
A decision to accept or decline your application may take up to 90 days.
The temporary insurance policy automatically ends on the earliest of:
If you are under age 69, the total amount of any death benefit payable under any Sun Life Go life insurance policies is the lesser of $1,000,000 or the total amount of any death benefit applied for under this application.
This is available to you if you become terminally ill and only have 24 months to live. The payout is up to a maximum of 50% of your insurance amount. Approval for the living benefit is subject to the program rules in effect at the time of your request. Approval is at our discretion. Upon approval of the situation and required documents, we will issue the payment. When we receive a death claim on this policy, we will deduct the living benefit payment plus interest from the original coverage amount. Your monthly payments will not change. To see if you're eligible please call us at 1-800-669-7921.
The person making the claim must do so as soon as reasonably possible after the person covered by the policy passes away. To make a claim:
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Sun Life Assurance Company of Canada is the insurer, and is a member of the Sun Life group of companies. Sun Life Assurance Company of Canada is licensed to offer life and health insurance in all jurisdictions in Canada.