Case scenario: Fred, a 34-year-old father living with type 1 diabetes since age 12

Insurance needs
Fred and his wife recently refinanced their mortgage to renovate and improve their family's comfort, particularly for their two children.

After reviewing their existing life insurance coverage with their advisor, Fred and his wife realized that they needed additional protection to ensure their financial security.

Health conditions
Fred was diagnosed with type 1 diabetes at the age of 12 and manages it with insulin (insulin-dependent). His mother and sister are also diabetic.

Qualifies for
Fred qualifies for immediate coverage through Platinum Protection, which provides coverage up to $500,000.

Tailored solution
In addition to his existing permanent coverage provided by his workplace, Fred has opted to increase his existing coverage by adding a Platinum Protection policy of $50,000 permanent coverage and $450,000 of Term 20. This additional coverage was added to help protect the line of credit they utilized for the home renovation project.

For added protection for his two young children, Fred is also adding a Child benefit rider of $20,000. Given the family's history of diabetes, it guarantees coverage and future insurability of his children if they were to be diagnosed at a young age.

Total monthly premium: $142.48
 

Did you know?

• We don’t ask about type of diabetes, regardless of the age of diagnosis.
• We don’t ask about treatment or medication for diabetes, or about changes in medication or dosage.
• The Child benefit rider is convertible without evidence of insurability up to five (5) times the sum insured, to a maximum of $100,000 per child.