Simplified life insurance... to simplify your life

Simplified life insurance... to simplify your life

SSQ Insurance knows that time is precious, which is why it now offers simplified life insurance products. In less than one hour, you’re insured!1

What is simplified life insurance?

It differs from traditional life insurance in its simplicity and how quickly it is issued.

Instead of having to meet with an advisor in person and see a nurse to submit blood and urine samples, you just have to answer a short health questionnaire with the advisor over the phone or online.

Your advisor will ask you questions about recent hospitalizations or any critical illnesses like MS or Alzheimer’s you may be suffering from.

Your advisor will also ask about your smoking and drinking habits as well as your height and weight.

Your answers will be compared to a medical database, which will enable the insurance company to estimate your life expectancy and assess your insurance risk.

After analyzing your needs, your advisor will determine if you qualify and if so, what the premium will be. Once the insurance application is submitted, the policy is issued in under 60 minutes.

It’s as easy as that!

More relevant than ever in these times of social distancing

The social distancing measures implemented to reduce the spread of COVID-19 mean that face-to-face meetings with advisors or nurses may be a cause for concern.

A no-contact remote application process is a worry-free way to protect your financial security.

What life insurance options are available?

SSQ Insurance offers two:

  • Term Life Insurance
  • Whole Life Insurance

Term life insurance initially protects you for a period of 10 or 20 years (that can then be renewed until age 80), whereas whole life insurance, as its name suggests, provides you with lifelong coverage.

Based on the information you provided on your insurance application, your advisor will be able to recommend the simplified life insurance product that best suits your needs.

The characteristics of each are presented in this table:

Life Insurance Type

Term 10

Term 20

Whole Life

Enrolment age

18 to 70

18 to 60

18 to 80

Insurance amount

18 to 50: $25,000 - $500,000

51 to 60:

$25,000 - $249,999

61 to 70: $25,000 - $99,999

18 to 50: $25,000 - $500,000

51 to 60: $25,000 - $249,999

18 to 60: $10,000 - $249,999

61 to 80:

$10,000 - $99,999

Is it right for you?

Are you in good health? Do you have basic financial needs? Do you want to get insured quickly? If so, simplified life insurance is for you.

However, just like traditional life insurance, there’s no guarantee that the insurer will cover you. So, if you have a critical illness like cancer or Hepatitis C, simplified life insurance is not for you. In this situation, you must therefore consider traditional life insurance with a full underwriting process or guaranteed issue life insurance.

Certain terms and conditions apply if you have a high-risk profession or if you engage in extreme sports.

How to purchase simplified life insurance?

Directly from your advisor.

1 It may take longer to issue the insurance policy for current customers.

Note: This blog post is provided for information purposes only. It is not a substitute for professional legal, financial or fiscal advice. For advice specific to your personal situation, always speak with your advisor. SSQ Insurance cannot be held responsible for any decision made as a result of reading this blog post.