Mortgage Life + Disability

• Available with a 20/20 Mortgage Life Insurance and must be issued at the same time.
• Provides for a monthly disability income benefit payment if the insured becomes disabled before the insured's 65th birthday (see definition of disability).
• The maximum number of monthly payments is 24 for the same cause of disability.
• The maximum number of monthly payments is 48 for periods of disability resulting from different disability causes.
• 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).
• Non-guaranteed level premiums.
• The waiting period to receive a first disability benefit payment is 60 consecutive days. Benefit is payable to the insured, not to the bank.
• Contains limitations and exclusions (please refer to contract for more information).

Total disability or totally disabled means a condition resulting from an illness, an injury or a nervous disorder which requires the continuous care of a physician and that prevents the insured from performing his/her regular duties in regard to any of the following:

• (a) Any occupation in which he or she was engaged immediately before the date he or she became disabled.
• (b) His or her main occupation.
• (c) Any occupation for which the insured worked at least 20 hours per week for at least 8 weeks during the 12 months immediately preceding his or her total disability.

To be considered totally disabled, the insured must not engage in any gainful occupation, employment or activity allowing him or her to draw profits, gains, salaries or any other form of remuneration while he or she is totally disabled.

• The disability income benefit is available for one or the other of the insureds or for both. If joint, the sum insured must be the same for both insureds.
• If both joint insureds have disability income coverage and are disabled, the monthly disability income payments will be made for one insured only, and not be doubled.

Disability income benefit payments terminate on the first of the following:

• The date on which the insured ceases to be disabled.
• The date of death of the disabled insured or of one of the insureds if a joint policy.
• The date the disabled insured’s policy to which the disability income rider is attached terminates, for whatever reason.
• The date of the 48th monthly disability income benefit payment for periods of disability resulting from different disability causes.
• The date on which the insured refuses or neglects to provide the required proofs to Assumption Life.
• The date on which the insured refuses to submit to medical examinations or treatments prescribed by a doctor without reasonable justification.