iA Financial Group is launching a new critical illness insurance product while updating its existing product.
The product, “TRANSITION – 4 illnesses,” covers the four most common critical illnesses. The benefit from the product can be used to replace lost income or pay back a mortgage loan, a release noted.
To enroll for TRANSITION – 4 illnesses, applicants are only required to answer eight medical questions. Coverage applies almost immediately after an applicant is cleared, thanks to an application platform that utilizes electronic signature technology.
iA Financial has also improved its existing TRANSITION – 25 illnesses product, by adding 25-year term insurance and flexible premium repayment options. This gives the client access to funds as early as the fifth year of coverage, plus reduction of rates for all term coverage.
“We are very pleased to be able to offer critical illness insurance products that are flexible and affordable, as well as being quick and easy to apply for,” said iA Financial senior vice-president of individual insurance and sales Pierre Vincent. “TRANSITION and TRANSITION – 4 illnesses will make it easy to meet the needs of a constantly evolving clientele who look for personalized solutions.”
A release added that clients with TRANSITION or TRANSITION – 4 illnesses coverage will benefit from a second medical opinion service offered by MediGuide, at no extra cost.
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