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What are the limitations and exclusions?
Life Insurance
When your insurance benefit won’t be paid:
- Suicide, if you take your own life, whether you were sane or insane, within 2 years of the date that the insurance coverage begins
- Misrepresentation, if you fail to disclose information or you give incorrect information relating to the application
- War, if you die as a result of war, insurrection or similar hostilities, whether or not you were participating
- Riot or civil commotion, if you die as a result of your participation in any riot or civil action
- Criminal offense, if you die as a result of committing or attempting to commit a criminal offense, regardless of whether charges are laid or a conviction obtained.
Pre-existing health condition
No benefit will be paid if:
- You die during the first 12 months after the date you applied for LoanProtector insurance (the exclusion period); and
- You received treatment, took medication or consulted a physician/healthcare provider, for any health condition or symptoms, diagnosed or not, in the 12 months before you applied for LoanProtector insurance (the pre-existing condition period); and
- Your death is a result of, or related to, any health condition mentioned above.
Disability Insurance
No benefit will be paid if your disability was directly or indirectly the result of any of the following:
- Intentional self-inflicted injury whether sane or insane
- War, insurrection, or similar types of hostilities, whether or not you were participating
- Your participation in any riot or civil commotion
- Your committing or attempting to commit a criminal offence regardless of whether charges are laid or a conviction obtained
- Your pregnancy, other than physical complications of pregnancy
- Your alcoholism or drug addiction
Pre-existing health condition
No benefit will be paid if:
- You become disabled during the first 12 months after the date you applied for LoanProtector insurance (the exclusion period); and
- You received treatment, took medication or consulted a physician/healthcare provider, for any health condition or symptoms, diagnosed or not, in the 12 months before you applied for LoanProtector insurance (the pre-existing condition period); and
- The disability for which a claim is being submitted is a result of, or related to, any health condition mentioned above.
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