By skipping small print, man loses insurance

After finding out he had thyroid cancer, Franco Provenzano turned to his $1-million critical illness insurance from Great-West Life for support.

Read: Will a misdiagnosis affect CI premiums?

His claim was denied, because he didn’t read the fine print on his policy, reports the Toronto Star.

The Great-West Life insurance he bought didn’t cover health issues discovered in a test or check-up within 90 days of buying the policy. His thyroid test was 70 days after he made the purchase.

Provenzano tried to sue Great-West Life Assurance, but the case was dismissed.

Read more here.

Also read:

Navigating the critical illness claims process

Plan for the worst-case scenario

Faceoff: Is costlier insurance cost-effective?

You need a Plan B

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.