Term Life Insurance Quote Generator
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Founded in 1990, Assuris is a not for profit organization that provides protection for Canadian policyholders in the event that their life insurance company should fail.
Their role is to protect policyholders by minimizing the loss of benefits and ensuring a quick transfer of their policies to a solvent company, where their benefits will continue to be honoured.
Any life insurance company authorized to sell insurance policies in Canada is required, by the federal, provincial and territorial regulators, to become a member of Assuris.
Assuris is funded by the life insurance industry and endorsed by government. There is no cost to policyholders for Assuris’ protection.
Preferred rates are the premiums paid by people who the life insurance company consider to be in exceptional health.
The availability of Preferred Rates is up to the discretion of the insurer and usually must be supported by the results of your paramedical.
Only after the results of your paramedical are submitted and reviewed by the prospective insurer will they let you know if you will be eligible for the Preferred Rate.
If for some reason you do not qualify for the Preferred Rates, then you likely will be offered a Regular or Regular Plus Rate quote.
This inludes cigarettes, cigars, chewing tobacco, nicotine patches, and nicotine gum.
Many life insurance companies do however offer non smoking rates to cigar users who smoke less than 12 cigars per year.
If an insurance policy is issued to a smoker but later on he/she quits, the insurance company will reduce the rate to non smoker after having quit for 12 months.
A urine and/or saliva sample given during the course of the paramedical exam will determine whether an applicant is nicotine free or not.
Some insurers require a paramedical exam before deciding upon eligibility for coverage.
Upon applying for a policy, a registered nurse arranges a time to meet with you at home or work to collect the information.
The basics includes height, weight and blood pressure, while a blood, urine or saliva sample may also be taken for analysis.
Exams are confidential, free of charge, and the results are sent directly to the insurance company for evaluation.
If coverage is approved a policy document usually issued in about two weeks.
In a small percentage of cases additional information may be required from a family doctor and can take up to 90 days.