When does my Quick Life Insurance end

Answer:

This Policy will end upon the earliest of the following events:

The date you cancel your Policy;
The date we cancel your Policy due to non-payment of premiums (before age 75); or
The date we pay the last benefit for the last Life Insured on this Policy.

Cover under this Policy will end for a Life Insured on the earliest of the following events:

The date you remove that Life Insured from this Policy;
The date we cancel cover for a Life Insured due to non-payment of premiums (before age 75);
The date of payment of a Terminal Illness Benefit for that Life Insured; or
The date the Life Insured dies.

When a Policy or Life Insured’s cover ends, you will not be able to make a claim for any event that happens after the cover ends.

We will issue a new Policy Schedule if we have made a Quick Life Insurance benefit payment and there is a remaining Life Insured.

When the Policy Owner dies, ownership of this Policy will be transferred to the Policy Owner’s estate or personal representative. The death of the Policy Owner is the only situation where Policy Ownership can be transferred to another person.

You can choose to keep your Quick Life Insurance benefit up to age 75. Once you reach 75, your premiums stop and your cover reduces to $15,000 to help with funeral costs and any other final expenses.

How are premiums calculated?