CARP
How much does it cost too add a child rider and how much for a child AD rider FOR CARP 2.0?
Child rider - $2
Child AD rider - $1
What is the waiting period for a CIRP claim?
90 days
What is minimum amount of time someone needs to stay in a USA hospital to be eligible for Hospital benefit?
None, USA hospital is not covered
At what age does this current version of coverage terminate?
70 years old
80 years old
If the insured burns 10% of his body what is the cap percentage for a payout.
25%
What period of time is CIRP renewable with predetermined premiums?
10 years
What is the main benefit of getting AD separately compared to adding it on to CARP as an optional AD?
Higher Limits
How many months of month recovery benefit do we provide extra after a disability claim?
1 additional month
What are the first two characters for converted policies from T10/T20/T30 to T100 in CV?
TX
What is the max amount of days a Hospital Benefit will be covered for a CARP Policy?
up to 365 days
What is the time period a covered critical illness will not be payable from the start of the policy?
Within the first 6 months
Is the 1% anniversary increase compounded year over year?
Bonus 100 points: What is the cap amount for increases?
No, it is 1% increase on the original amount
Capped:$2500
If you are outside Canada and get disabled within the first 12 months of the effective date would you have coverage?
It is an exclusion!!
If the policy is active after 12 months you must return within 90 days.
For GALI which 2 forms of death pays PREMIUM BACK if it occurs within 2 years?
Natural/Suicide
Policy = 100k coverage for carp, added Spouse rider, AD rider, Child Rider and Child AD Rider.
Situation = Gets in a car accident, child and individual insured is severely injured and wife passes away. What benefits would be paid out.
Bonus 200 points: How much was paid out?
100k for individual
$37500 for child
$50k for wife
Total: $187,500
What is the time period of death the insurer will not pay a covered critical illness when diagnosed?
30 days
For a 963 policy what is the max coverage amount?
$200k
MYSTERY QUESTION!!!!!!!!
For CT Financial assurance how many days would need to pass before a client gets diagnosed with cancer for the coverage to apply?
Bonus 200 points!!: How many days must they survive from Heart attack, stroke or cancer to be aligible?
more then 91 days
Bonus: must survive 30 days
MYSTERY QUESTION!!!!!!!!!
For accident and sickness hospitalized plan how many days old does a new born have to be to be added?
Bonus 200 points : What is the minimum amount of hours you have to stay in the hospital to be able to receive benefit?
Age : 30 days old
Bonus: 48 hours min in Canadian hospital
What are the three main differences between CARP 2.0 and CARP+ ( 555 on CV) ?
-Coverage amount from $150k to $100k
-Broken Bone benefit from $3k to $7k
-Hospital stay from $200/day to $100/day
How much is the optional AD Coverage for current CIRP policy?
No option available!!!
only 911( grandfathered) policies
Policy- $250k coverage for individual, added wife $250k and child $5k as rider.
Situation - All three die in a plane crash, how much is the death payment
$505,000
Reason: Common carrier does not apply for child rider
If client has a Recurrent disability and he ends his coverage after 13 months due to recovering. If the disability returns back how many months would the client have if he claims again?
11 months
Reason: The claim has to occur within the 12 months after recovering and will be considered continuous until the max benefit of 24 months has been reached.
If the clients birthday is June 1st and she turns 60 years old but the client calls us August 1st to get a term 20 policy, is she eligible? and why?
Yes she is, she is within the 6 month aging period to still be eligible for a policy.