Absolutely, you can add your spouse to the coverage when you are looking up rates and apply together to save time! Even though you will apply together, you will both have your own policies!
What if I have health issues?
It all depends on the health issues, there are carriers that we work with that will approve you based on several different issues. It is best to reach out to us directly and we can work with you to find the most affordable policy.
Will they require a medical exam?
Depending on what carrier you choose to apply through there is a small chance you may require a medical exam. If this is the case a nurse will come to your house and take the necessary tests. It all depends on the questions, carriers, and information collected from the Medical Information Bureau (MIB)
What is the MIB?
The Medical Information Bureau (MIB) is a central database for insurance carriers to share information amongst themselves regarding clients’ past insurance history. This database will store all your previous insurance history from any other applications that you may have submitted in the past.
What if I don’t want a medical exam?
If you are absolutely against having a medical exam and want guaranteed insurance coverage with no possibility of having to have blood taken, then applying through CPP will be your best bet. They have a guaranteed no medical product that will ensure that does not happen. The premium will be slightly more expensive than other companies, but you can rest assured that there will be no medical exam.
How long will it take for my application to be approved?
The average time for an insurance company to reach a decision is 2-4 weeks, however, sometimes it’s much shorter and can be approved within a few days.
What happens after the application?
The insurance company will review the application and possibly order a medical; In that case, a nurse will come to your house to possibly take blood and vitals. Once they review everything, they will either approve, deny, or rate your application. You can read more about the process in our “More Info” section.
What happens after my policy is approved?
Once your policy is approved you will be notified by email of the contract details. In most cases, the price will come back the same as it was quoted, but in some rare instances, the insurance carrier may come back with a rating to your policy based on their underwriting findings. In that case, you can either accept the rating or try applying with another company. It is best to have a conversation with us at that point so we can point you in the right direction. After you accept your policy, you will be able to download your E-Policy or the physical documents will be mailed to you within 4 business weeks however you will be covered during that time.
Will this insurance for sure payout in the event that I die?
The two main reasons an insurance company can deny a claim are either suicide within the first 2 years or lying on your application. See Rejection Of Life Insurance Claims for more information.
Is there a contract with life insurance, what if I want to cancel?
There is no contract, you cancel whenever you want! Send us an email at email@example.com with your policy number and we will take care of that for you.
What is the difference between terms 10, 20, or 30?
The term is the amount of time your premium will stay level. At the end of the term, your price will go up, although it is typically cheaper if you just cancel and apply through another company when your term does expire if you are still in good health.
What is the difference between life insurance and creditor insurance?
The main differences are that creditor insurance is not guaranteed to pay out and is typically more expensive than life insurance.
How do I know I am getting the best price?
We use a software called Winquote that pulls from all companies across Canada. You can use the software yourself, it’s not a secret. We have narrowed down the companies to increase the simplicity in applications as not all carriers accept online applications. Visit www.winquote.net to run all the insurance quotes you want.
What if I want to change my answers?
If you have submitted an application to us and realized that you entered the wrong information, we can fix that! Send us an email as soon as possible to firstname.lastname@example.org with the questions you wanted to change.
What if I want to change my beneficiaries?
We can help you with that, send us an email at email@example.com with your policy number and we will send you the forms required to change your beneficiaries.
How does the claims process work?
Hopefully, your loved ones will never have to make a claim on your life insurance, but should it ever be needed we are here every step of the way. Send us an email at firstname.lastname@example.org and we can walk you through the process.
What happens if I miss a payment?
Missing a payment happens sometimes, don’t worry about it! You have a 30-day grace period where you are still covered and can make up your payment.
Why do I need to verify my ID?
In order to prevent fraud and ensure we stay compliant with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), we require verification of government-issued identification. Don’t worry, it’s easy to verify and your information is always secure.
Why can’t I buy directly from the carrier?
Almost all insurance companies will not sell directly to consumers, they prefer to sell through brokers such as Affinity Life.
What if I own a business?
There are some unique planning opportunities that arise if you own your own business. One of them is being able to pay for your life insurance through your business but still having the benefits reserved for your family. This type of planning can become more complex and it’s best to reach out to us at email@example.com to advise you on your specific circumstances.