Equitable Life launches new CI plan

Equitable Life of Canada has a new critical illness plan, called Living Protection.

Available to people age 18 to 65, Living Protection provides a lump sum payment if the insured person is diagnosed with one of the four illnesses: heart attack, stroke, cancer, and heart disease requiring coronary artery bypass surgery.

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“Those illnesses account for 89% of the critical illness claims in the industry,” says Michael Dawe, senior vice president, Individual, at Equitable Life. It’s a simple issue product, so no medical exam is required. Premiums are also guaranteed.

Living Protection is suited to people who want a smaller amount of insurance to cover additional expenses incurred because of their illnesses.

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Staff

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