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Engineers Canada Term Life

Articles and answers about Engineers Canada Term Life.

Articles about Engineers Canada Term Life

Questions about Engineers Canada Term Life

What happens to my spouse’s coverage if I die?

Your spouse can keep their coverage. It continues from the premium due date after your death, as long as your spouse keeps paying the premiums, and the ownership of the coverage passes to them. Any spouse Major Accident Protection and Child Life & Accident Insurance continues the same way. Or, within 31 days of that premium due date, your spouse can convert the coverage to an individual policy without evidence of insurability.

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Will my Term to Age 85 premiums increase with age?

Yes. Your premium rises as you move into each age band, from the April 1 policy anniversary after your birthday. Rates aren’t guaranteed and can change on any policy anniversary. If you add the optional Insurance Continuation Benefit, its premium stays level until 85, when premiums stop.

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Can I convert my Term to Age 85 coverage to an individual policy?

Yes, if your coverage ends on or before age 75. Apply in writing and pay the first premium within 31 days of the date it ended, and you won’t need evidence of insurability. Up to 65, you can convert to whole life or to term insurance to age 65; from 66 to 75, to whole life only, up to $200,000.

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