Term life insurance is the most basic type of life insurance policy. It provides coverage for a specified period, usually ranging from 5 to 30 years. In case of the policyholder’s death within the policy term, the beneficiaries receive a death benefit payout. The premiums for term life insurance are relatively low compared to other types of life insurance policies. However, the policy does not have any cash value or investment component.
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“Stable and Controlled” means that within the stability period prior to the application date:
Answers on the application: Each condition requires the applicant to answer either “Yes” or “No” depending on whether the applicant has had such a condition, including symptoms or investigation or consultation concerning a certain condition. If the condition has been specifically ruled out and no further follow-up action has been or needs to be taken then the applicant can answer “No” to the condition. If the applicant answers “Yes” to any condition, the applicant must state how many medications they are taking for that condition and for how long the condition has been stable. This information will help to determine if the client can be covered for their condition. If a client has too many medications for major conditions they may be excluded from coverage.
Auto-immune disorder includes acquired immune deficiency syndrome (AIDS) or human immunodeficiency virus (HIV), Grave’s disease, Lou Gehrig’s disease, multiple sclerosis, myasthenia gravis, sarcoidosis any location, scleroderma, systematic lupus erythematosis.
Blood Disorder includes anemia (other than vitamin B-12 deficiency anemia), hemochromatosis, idiopathic thrombocytopenic purpura (ITP), hemophilia, polycythemia vera, Sickle-cell anemia.
Deductible means the amount which the Insured must pay before any remaining covered expenses are reimbursed under this policy. Your deductible is indicated on your confirmation of coverage and applies once per Insured per Policy Period.
Emergency means an unexpected or unforeseeable sickness or injury which requires immediate medical attention or treatment to prevent or alleviate existing danger to life or health, or to relieve acute symptoms, that cannot be delayed until you return to your province.
High-risk activity(ies) includes skiing or snowboarding out of bounds, ski jumping, skydiving, skysurfing, scuba diving (except if certified by internationally recognized and accepted program such as NAUI or PADI, or if diving depth does not exceed 30 meters), white water rafting (except grades 1 to 4), street luge, skeleton activity, mountaineering, or participation in any rodeo activity.
Major organ means, heart, kidney, liver or lung.
Medical consultation means any medical services obtained from a licensed medical practitioner for a sickness, injury or medical condition, including but not limited to any or all of: history taking, medical examination, investigative testing, advice or treatment, and during which a diagnosis of the condition need not have been definitively made. This does not include regular medical check-ups where no medical signs or symptoms existed between check-ups or were found during the check-up.
Minor Ailment means any sickness or injury which does not require:
A chronic condition or any complication thereof is not considered a minor ailment; it is a pre-existing condition.
Other Cerebrovascular or Neurological conditions or disorders: includes Parkinson’s disease, epilepsy, cerebral palsy, multiple sclerosis, brain injury or brain tumor, seizure disorder, Lou Gehrig’s disease (ALS), Creutzfeldt-Jakob disease, Cushing’s syndrome, Guillain-Barré syndrome (GBS), trigeminal neuralgia (TN or TGN).
Pre-existing condition means a medical or physical condition, symptom, illness or disease, whether diagnosed or not, for which treatment has been received or taken, or which exhibited signs or symptoms, at any time preceding your effective date and includes a medically recognized complication or recurrence of a medical condition but does not include a minor ailment.
Recurrence means the appearance of signs or symptoms caused by or related to a medical condition which was previously diagnosed by a physician or for which treatment was previously received.
Signs or symptoms means any evidence of disease experienced by you or recognized through observation.
Stable as indicated on your medical statement summary (if applicable), means that during the specified period:
Exceptions:
Stomach, bowel, digestive, gastrointestinal disorder includes any condition along the gastrointestinal tract (from the mouth to the anus) and can include (among others) esophagus disorder, stomach disorder, ulcer, hernia, irritable bowel syndrome (IBS), inflammatory bowel disease, gastrointestinal bleeds, gastritis, Chrohn’s disease, Celiac disease, diverticulitis, ulcerative colitis, colitis, bowel obstruction, bowel resection or ostomy.
Exceptions: The following conditions are not subject to any surcharge but must be noted in the note section of the medical questionnaire:
Terminal applies to a medical condition for which a physician gave a prognosis of eventual death or for which palliative care was received prior to the effective date.
Treatment means a medical, therapeutic or diagnostic procedure prescribed, performed or recommended by a physician including, but not limited to, prescribed medication, investigative testing or surgery.
