Coverage Basics
This is the maximum term of insurance available for Group Mortgage Protection products.
What is 35 years?
To qualify for Disability coverage, a borrower must have worked this many hours per week for 2 consecutive weeks before disability.
What is 20 hours
Critical Illness coverage will not pay if cancer is diagnosed within this time following the effective date.
What is 90 days
Borrowers have this many days to cancel their coverage for a full refund.
What is the 30‑day Free Look?
This age marks the point at which coverage ceases for all Group Mortgage Protection options.
What is 75?
Loss of Employment claims require that the insured worked this many hours per week for the previous 12 months.
What is 20 hours per week?
Loss of Employment benefits begin this many days after the effective date of insurance.
What is 60 days
These two items must be given to borrowers at enrollment.
What are the Product Guide and the Certificate of Insurance?
this is the minimum coverage amount needed for life and critical illness in order to be able to take disability
What is $5000.
For Life and Critical Illness, borrowers must answer these before approval.
What are Health Questions
This clause prevents Life coverage payout if death results from attempting to injure oneself during the first 2 years.
What is the Self‑Destruction Clause?
This form must be signed and dated by the borrower to activate insurance.
What is the Insurance Enrollment Form?
This product offers a maximum monthly benefit of $3,000 and a cumulative maximum of $72,000.
What is GMP Disability Coverage
This is the elimination period for Disability coverage.
What is 60 days non‑retroactive?
These three conditions are the only ones covered by Critical Illnesses protection
What is Heart Attack, Stroke, and Cancer?
Only one benefit is payable if an insured has both a disability claim and a loss of employment claim on the same mortgage.
What is the one‑benefit rule?
This type of benefit is available only on Life coverage and pays out early in specific health circumstances.
What is the Accelerated Death Benefit / Living Benefit?
This requirement states the borrower must be actively performing usual duties at the effective date.
What is the “At Work” eligibility requirement?
This exclusion states that if symptoms occur before enrollment, a disability claim may not be covered.
What is the Pre‑Existing Condition Exclusion?
To qualify for premium reduction, the mortgage must be paid down at least by this much a year
What is $5,000 or more?