Mortgage Life + Critical Illness

• Available with a 20/20 Mortgage Life Insurance policy and must be issued at the same time.
• Term Critical Illness insurance with declining sum insured (calculated using the same amortization schedule as 20/20 Mortgage Life Insurance policy).
• Three critical illnesses are covered. 
• Simplified issue (signed declaration with proof of existing bank mortgage insurance if issued within previous 12 months, or a short-form health questionnaire if bank mortgage insurance in force for more than 12 months).
• Guaranteed level premiums for the term selected.

• 1. Heart Attack
• 2. Cancer
• 3. Stroke

*See Policy for definitions and exclusions

Once the older insured reaches age 70 and his/her coverage ends, the younger insured continues to be covered until he/she reaches the age of 70.

The Critical Illness rider terminates on the first of the following:

• (a) The death of the insured or of one of the insured if a joint policy.
• (b) The date a critical illness insurance benefit is paid under the Critical Illness rider.
• (c) The date Assumption Life receives written notice from the owner requesting termination of the Critical Illness rider or the date of termination requested in the notice, should this date be later.
• (d) The date the life insurance policy or rider to which the Critical Illness rider is attached terminates, for whatever reason.
• (e) The date of the younger insured’s 70th birthday.