iA Financial Group announced on Jan. 8 that it is launching a new critical illness insurance product aimed at younger clients. The product, called TRANSITION – 4 illnesses, has a quick application process and affordable rates, says iA.
The product covers the four most common critical illnesses and the benefit can be used to replace lost income or pay back a mortgage loan.
Applicants must answer eight medical questions. Electronic signatures are permitted and enrolment is often instantaneous.
In addition, iA has made changes to its TRANSITION – 25 illnesses critical illness insurance product, such as the addition of 25-year term insurance and flexible premium repayment options giving the client access to liquidity as early as the fifth year, as well as a reduction of rates for all term coverage, says iA.
“We are very pleased to be able to offer critical illness insurance products that are flexible and affordable, as well as being quick and easy to apply for, says Pierre Vincent, senior vice-president, Individual Insurance and Sales, iA Financial Group. “TRANSITION and TRANSITION – 4 illnesses will make it easy to meet the needs of a constantly evolving clientele who look for personalized solutions.”
The TRANSITION and TRANSITION -4 illnesses products give access to a medical second opinion service offered by MediGuide.