ditto if you take "stress leave" from a job ... you will be uninsurable for a period of approximately 2 years (if not longer) ....apparently "suck it up buttercup!" is the mandate out there these days....

sunshine - vitamin D - Evening primrose oil for the ladies in the audience - good old "comfort foods" ... these are but a few things that may / may not help ... perhaps....

I think there should be something like a CRTC for the insurance industry.

every time I have a conversation with my broker it goes something like this

Me: "that doesn't make any sense - it's ridiculous"

Broker: "I know it's a scam but there's no way around it"

repeat any number of times

AIG assurance, now owned by BMO asks nothing of you, no medical exam, they don't ask if you're a smoker, nothing.



Link

I've chosen the 20.00 per month Guaranteed Coverage Life Plus plan

Nicki, they don't ask you anything up front, but when you try to collect you'll find you're disqualified...

I saw a CBC docu about that very company and some cases of people that were disqualified after their loved one died.

It was very sad to see.

This company was the only thing that went right after Rolly passed away.

Not only did they pay for her cremation et al, but they reimbursed her last payment

The CBC documentary showed how easy it is to sign up but when it came down to collecting even something like high blood pressure meds were enough to disqualify.

They had a visual- they had 20 couples dancing on a dancefloor, all of whom believed they were set as far as their life insurance policies were concerned.

They went through the most common reason for disqualification, and in the end there were just 2 or 3 couples left.

This was a few years ago now. I think the basics were covered, like cremation etc but they didn't get near the full 'payout', for instance if you have a million dollar policy, you won't actually get a million dollars.

The term 'pre-existing condition ' can be accompanied by a lot of interpretive baggage. Loopholes are not generally weighted in the clients' favour.

That 'small print' that you have signed opens up many evasive back doors for them. You may not have been asked about particular conditions or issues, but there are many ways around that -- one being 'did you ever seek medical attention for this, that , or the other condition' which opens up the door to 'pre-existing conditions' even if you were not ill or diagnosed with anything way back when. Something as obscure as 'seek attention for a nervous condition or dizziness or heart palpitations' (even if you ended up only having indigestion) etc may come back to bite your butt years later if it eventually comes to light you do have a medical condition that you had no prior knowledge of.

You've also signed a waiver saying your medical records are up for perusal by the insurance company, so they can check back on those previous symptoms and now label them as 'pre-existing' that you didn't disclose.

On the other hand, I can vouch for the integrity of one company, London Life, for going the extra mile for a client and paying a large death benefit even though no premiums had been paid yet, and the policy was not even yet filed yet. They could have used any number of loopholes to avoid having to pay the settlement, but they came through without any question or scarlet tape.