CRITICAL ILLNESS COVERAGE
Tier 1: Guaranteed Issue Critical Illness available in units of $5,000 - $25,000, or $50,000.
Tier 2: If Tier 1 is achieved AND qualifying questions are satisfied, an additional $25,000 or $50,000 is available for a maximum total of up to $100,000 of Critical Illness coverage in force with EDGE.
A tax free lump sum payment is made if you are diagnosed with an Insured Condition while insurance is in force. This benefit is meant to provide a payment if you are diagnosed with one of the Insured Conditions following the effective date of your coverage.
There is a Pre-Existing Condition limitation that applies to your coverage. It is important that you speak with a licensed advisor to understand how this could affect you at claim time.
- You must survive 30 days following the date of diagnosis
- The date of diagnosis must be after the effective date of your coverage or the most recent reinstatement date.
- Payment may be made for a second event, if you are deemed to be fully recovered from the initial diagnosis and not receiving treatment for at least 90 days. The second event must not be the same category of condition as the first.
- The Second Event Benefit is also subject to surviving 30 days after the diagnosis.
- After a second benefit is paid, coverage will terminate and you will not be eligible to re-apply for new coverage under this plan.
Automatic Increase in Benefit. Your benefits will automatically increase at no extra cost by 5% of the original amount purchased each 5 years that coverage is continuously in force, and premiums are paid in full, up to a maximum of 25% additional insurance.
Child Critical Illness Rider: $10,000 benefit per child (can be added to either Tier 1 or 2). 4 additional covered conditions: Cerebral Palsy, Cystic Fibrosis, Down Syndrome and Muscular Dystrophy.
List of Critical Illness Insured Conditions and their definitions
This is a brief overview of the Benefits, providing some key definitions, exclusions and limitations only. A complete policy booklet will be issued once coverage is purchased, and we suggest you review for details on all policy provisions when received.