![]() Right now, your finances and mortgage add up nicely.īut what if you got sick or hurt, and were suddenly unable to work?īy protecting your mortgage balance with insurance, your payments could be made for you. Critical illness insurance also ends and premiums are refunded if a diagnosis of cancer or any sign, symptom or investigation leading to a diagnosis of cancer, occurs within 90 days of your coverage effective date, regardless of when a diagnosis is made.When you chose your home, you chose a neighbourhood to live in and schools to send your kids to. Your critical illness coverage also ends on the date you are diagnosed with a covered illness, for which the Insurer pays a critical illness insurance claim. Your critical illness or disability coverage ends when your LoanProtector Life Insurance coverage ends. The date the group policy for life, critical illness or disability coverage terminates.The date you are no longer a borrower or co-borrower of the loan or Royal Credit Line account or.The last day of the month in which you turn 70 years of age.The date that all or part of your insurance premiums are 90 days overdue.The date the Insurance Service Centre receives your written or verbal request to cancel your insurance coverage.The date you increase your Royal Credit Line account limit to over $100,000, and on each subsequent limit increase (unless you are already insured for the plan maximum.The date you cancel your Royal Credit Line account.The date your personal loan is refinanced (i.e.The date your personal loan is paid in full.Your insurance coverage will end on the earliest of the following dates: Critical Illness Insurance Joint Premium Rates Critical Illness Insurance Joint Premium Rates Age Provincial sales tax will be added to the premium where applicable. Note: Rates are converted from a monthly rate to a daily rate based on 365 days a year. *Applicable only for clients with existing LoanProtector coverage. Monthly Rate per $1000 of Outstanding Balance Critical Illness Insurance Single Premium Rates Critical Illness Insurance Single Premium Rates Age Premiums are calculated based on your rate and your average daily balance during that statement period.įor joint coverage, rates are based on the age of the oldest insured borrower multiplied by 1.7. Rates are determined based on the age of the borrower on the payment due date. ![]() Premiums are calculated based on your rate and your loan balance on the date the payment is due. Rates are determined based on the age of the borrower on the date of the insurance application. How will my critical illness insurance premium be calculated? ![]() Monthly Rate per $100 of Payment for Loans and per Estimated Disability Payment for Royal Credit Line Disability Insurance Single Premium Rates Disability Insurance Single Premium Rates Age This is because the benefit payable will be calculated as 3% of the qualifying balance at the time you were disabled (to the allowable maximum).įor joint coverage, rates are based on the age of the oldest insured borrower multiplied by 2.0. Premiums are calculated based on your rate and 3% of the daily balance in each billing month. Premiums are calculated based on your rate and your regular loan payment amount on the date that it is due. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |