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Life Insurance on savings

Essential and affordable protection!

Is this insurance coverage for you?

  • You are 18 years of age but less than 70.
  • You are a member of the CaisseAsk for it now.
  • Looking for a basic life insurance that also covers you in case of cancer diagnosis and which meets your essential needs.
  • You want to know immediately if you are eligible.
Outlines

Amount: Up to 25 000$

Qualifying share:

  • Qualifying share (membership share)
  • Personal chequing account
  • Regular savings

Premium calculation: The premium varies according to the age range of the insured or, in the case of a joint account, the age range of the older of the two insureds, depending on the type of account insured.

Eligibility: You need to answer only a few questions to determine your eligibility

Exclusivity: Available exclusively to Caisse members

Features

Coverage details

  • Up to $25,000 in life insurance to help ease the financial impact of your death on your loved ones (funeral costs, final expenses) and even leave something behind for them
  • Up to $6,250 in cancer coverage to help you deal with the financial consequences of a cancer diagnosis (e.g., tests at private facilities, travel expenses, childcare, caregiver costs, etc.)
  • Find out right away if you’re eligible for coverage
  • With Savings-Life Insurance, you can insure multiple accounts:
    • Qualifying share (membership share) accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Personal chequing accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Regular savings: up to $10,000 in life insurance per account (no cancer benefit)
  • Total payable for all insured accounts combined is capped at $60,000 (life insurance) and $12,500 (cancer benefit).
  • Insurance amounts vary based on account type and on the age of the insured person when they die or when they receive a cancer diagnosis.
  • To help keep costs affordable for older insureds, who generally need less coverage, insurance amounts start decreasing at age 70.
  • Joint accounts: If both account holders are eligible, both need to get coverage for the account to be insured.
Qualifying share and personal chequing accounts Regular savings account
Attained age Life insurance amount per insured person Cancer benefit per insured person Life insurance amount per insured person
Individual account
18 to 69 $25,000 $6,250 $10,000
70 to 74 $17,500 $4,500 $7,000
75 to 79 $10,000 $2,500 $4,000
80 to 84 $7,500 $2,000 $3,000
85 and up $5,000 $1,250 $2,000
Joint account
18 to 69 $12,500 $3,125 $5,000
70 to 74 $8,750 $2,250 $3,500
75 to 79 $5,000 $1,250 $2,000
80 to 84 $3,750 $1,000 $1,500
85 and up $2,500 $625 $1,000

Cost

  • Affordable premiums, since Savings-Life Insurance is a group insurance product
  • The monthly premium is automatically debited from your account.
  • How much you pay depends on how old you are—whenever you enter a new age range, your premium will change.

 

Qualifying share and personal chequing accounts Regular savings account
Attained age Monthly premium – individual account Monthly premium – joint account Monthly premium – individual account Monthly premium – joint account
18 to 39 $7.50 $6.00 $2.90 $2.32
40 to 44 $9.00 $7.20 $3.30 $2.64
45 to 49 $15.00 $12.00 $4.60 $3.68
50 to 54 $21.25 $17.00 $7.90 $6.32
55 to 59 $32.75 $26.20 $11.90 $9.52
60 to 64 $51.25 $41.00 $16.70 $13.36
65 and up $80.00 $64.00 $25.00 $20.00

Benefits

  • Tax-free benefit payments

 

More information

Notices

Exclusions and restrictions

Life insurance coverage on savings is offered by Acadia Life. It includes certain exclusions and restrictions. To find out what they are, you can consult the insurance contract available at your Caisse.

Legal notice

The information presented on this site summarizes the nature and conditions of the life insurance coverage available on savings. It has no contractual value. This information is intended to be clear and simple and to facilitate your understanding of the product.

The insurance contract contains all the terms and conditions of the insurance coverage. Only the contract can be used to determine legal issues.

 

Find out more

For more information, do not hesitate to contact us to schedule an appointment.

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