Critical illness insurance is an important part of your insurance protection. We are proud to provide the residents of Dunnville and the neighborhood area with protection for themselves, their families, and their businesses. Our team have the experience and knowledge to assist you at all stages of the process. From learning more about the benefits of critical illness insurance coverage, to getting a quote and applying, we are here to support you. We are excited to combine industry leading digital capabilities with unmatched customer support to bring you a unique and pleasant experience as you protect yourself and your family with critical illness insurance.
Protecting yourself and your family in case of a critical illness is more than choosing the right coverage. You want to have a great customer experience as well. Our team will ensure you receive the highest quality service and advice from our team of experts. Utilizing our digital interface, we provide a seamless customer experience, from product information, to our quoting and application systems. Let us hear about your thoughts so that we can continue to provide you, our valuable clients, with the best possible service.
We offers a variety of critical illness (CI) insurance policy types to fit each client’s specific needs. Helping you evaluate your different CI options is our specialty. Our digital tools and knowledgeable team will assist you as you identify your needs, so you can feel confident in your protection. What kind of financial protection are you looking for with your critical illness coverage? Perhaps you want to make certain you have got the funds to update your income for a year or two in case you became ill. Easing the financial stress, at an already challenging time, is key to allow you and your family to maintain your lifestyle and focus on improving your health. Each person’s needs are unique and unpredictable, but protecting the physical, financial, and mental health of you and your loved ones is feasible with proper insurance planning. More detailed information about coverage options and riders is available on our critical illness insurance page or you can contact our crew at Hometown in Dunnville to get started!
The premium payment on your critical illness insurance remains the same for the entirety of the term you select. As an example, if you have a term to 75 policy, your premiums would never increase until it expires at age 75. With any temporary policy, you will also have the option to convert to permanent coverage, if you wish, without undergoing any medical underwriting. Your premiums would then be locked in at the new amount for life. Your critical illness policy is an important aspect of your insurance security plan and should be reviewed on a regular basis along with your life insurance, to ensure that you are still properly protected.
Critical illness insurance premiums are affected by a number of underwriting factors. These include the term (Term 10, Term to 75, Lifetime, etc.), coverage amount, age, gender, smoking status, medical history, family history and some other lifestyle details. The underwriters will gather this information from the application you submit and assess your risk. Once the underwriting is complete, it will be determined if your premiums will remain standard, or if there will be a rating due to increased risk from one of the previously listed factors.
Yes, a CI policy can be cancelled at any point in time with no additional fees or payments required. If you added a rider for “Return of Premium”, and has satisfied the required qualifying period in your policy documents, you will receive some or all of your premiums back. There are a couple of really important factors to consider before cancelling your policy. Do you currently still have a need for coverage or will you in the future? And if you have the return of premium rider, how long before you qualify for a partial or full refund? Once you cancel your coverage, you would have to reapply if you ever needed coverage in the future, and you would pay a much higher premium. If you have the return of premium, you may only be a short time away from getting all, or some of your premiums refunded, so it may be more beneficial to wait until you reach that date as well! Our Dunnville Hometown team is happy to review your policy and potential options with you to ensure you make the best choice for you and your family.
The underwriting process for a critical illness insurance policy begins with the application. Your answers will provide information about your health, some basic personal information, occupation and lifestyle. Once the application is done, it is submitted to the underwriters at the applicable insurance company for their review. They will determine if any further clarifications are required and follow up accordingly. Once they underwriting has the required information, they can make a decision on how they will approve your policy. Once approved, your first premium will be withdrawn and your policy will be activated.
Our Dunnville Hometown team offers “riders” on your basic critical illness policy, to help you customize your coverage to your specific needs. Some of the most common riders are return of premium at expiry, return of premium at death, and disability waiver of premium. Our FAQ’s section in our critical illness insurance pages has more information on the various riders and CI in general.