||For complete plan details on Blue Cross Life Insurance - FlexTerm®, underwritten by Assumption Life, including definitions and exclusions, please review the contract sample.
*In the case of a positive answer on the declaration of insurability or have existing reports, the Company reserves the right to request any test or report deemed necessary by Underwriting regardless of age or insurance amount.
- Level term life insurance (A level term policy pays the same benefit amount if death occurs at any point during the term.)
- This is an underwritten product and may include medical requirements. However, eligible clients can qualify for underwriting without any medical exams.
- Underwriting with no medical exam may be available* for clients:
- Ages 18 to 45, applying for coverage up to $999,999.
- Ages 46 to 50, applying for coverage up to $499,999.
- Ages 51 to 60, applying for coverage up to $249,999.
- Ages 61 to 65, applying for coverage up to $99,999.
- Ages 66 to 69, applying for coverage up to $50,000.
- Fully underwritten for ages 70 to 75.
- Life insurance premiums remain the same for the duration of the term selected.
- Yearly Remewable Term (YRT) renewable up to age 90 and convertible up to age 75.
- Built-in benefits:
- Term Exchange Option
- Insurability Benefit
- Extreme Disability Benefit
- Available with smoker and non-smoker rates.
- Available as an individual policy.
||18 to 75 years of age
Age maximum is 85 minus term duration selected
||10, 20 or 25
- $50,000 - $99,999
- $100,000 - $249,999
- $250,000 - $499,999
- $500,000 - $999,999
- $1,000,000 - $10,000,000
Critical Illness Add on (rider) $0
- Renewal is automatic; no medical exam required.
- Renewal premium rates are guaranteed.
- The insurance coverage will renew annually until the policy anniversary nearest the insured’s 90th birthday.
|Term Exchange Option
Right to modify the term of the coverage
- The term of this policy may be extended to a longer term, for a sum insured equal to or less than the sum insured under this Blue Cross Life Insurance - FlexTerm® policy after the first month, but before the 5th coverage anniversary, without proof of insurability.
- The premium for the new policy is based on the sex and age of the insured as of the date of issue of the new policy, in accordance with the premium rate in force at this date.
- The right to exchange the term of the coverage may only be exercised once.
- This benefit allows insured to increase the initial insurance amount, without new evidence of insurability, when the obtaining a new loan such as a mortgage loan, increasing an existing loan, or upon any of the following events:
- Marriage, divorce, adoption or childbirth, obtainment of a bachelor’s degree, a master’s degree or a doctorate.
- May be increased before age 60 up to 25% of initial insurance amount up to $125,000, if the insured is not disabled.
- The Insurability Benefit must be exercised within 60 days following the events mentioned above.
- The premium for the new policy is based on the sex and age of the insured as of the date of issue of the new policy or rider, in accordance with the premium rate in force at this date.
|Extreme Disability Benefit
- Before age 60, 50% of the sum insured may be payable in advance up to $250,000, if the insured is in a state of extreme disability for continued period of 6 months.
- Extreme disability means the insured is affected by a medical condition that renders him or her in a state of total and irrecoverable disability as a result of which the insured cannot perform four (4) out of the following six (6) activities of daily living without a reasonable expectancy of recovery as determined by a physician:
- Bathing, dressing, toileting, bladder and bowel continence, transferring or feeding.
- The Blue Cross Life Insurance - FlexTerm® policy may be converted to a permanent Life Insurance policy offered by Blue Cross Life and underwritten by Assumption Life for this conversion privilege without proof of insurability, for the sum insured on the date the conversion privilege is exercised.
- The conversion privilege is available from the first Blue Cross Life Insurance - FlexTerm® policy anniversary.
- The conversion privilege terminates on the Blue Cross Life Insurance - FlexTerm® policy anniversary nearest the insured’s 75th birthday
||The following additional benefit may be added to the Blue Cross Life Insurance - FlexTerm® policy as an add on (rider) and must be issued at the same time.
- Critical Illness Add on (rider)