Critical Illness:
Guardian Ultimate Provider
DEFINITION
A comprehensive underwritten critical illness plan covering 23 illnesses/events – including occupational HIV & Major Organ failure requiring transplant. It provides investment opportunities.
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Maximum coverage $20,000,000.00 - with annual indexation, this can grow to $40,000,000.00
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Minimum coverage: $1,000,000
AGES SOLD
The plan is issued to persons aged 20 to 60 years, nearest birthday. Persons must prove insurability.
TWO PURCHASE OPTIONS ARE PROVIDED
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OPTION 1
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Death Coverage & Critical illness coverage
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Coverage can be indexed and without future medical proof persons can get twice the sum assured to a maximum of $40M.
Critical illness benefit is paid upon first diagnosis where death does not occur within 30 days. The death benefit is paid if death occurs before the expiry of 30 days after diagnosis.
The Benefit is the Basic sum assured and bid value of units less any indebtedness.
There is a 90 day waiting period after the commencement of the policy or after reinstatement before benefits are payable
Premiums will be refunded if suicide occurs within 2 years.
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OPTION 2
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Critical illness coverage only
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BENEFITS
On first diagnosis of any of the 23 illnesses/events covered where death does not occur within 30 days of the diagnosis the basic sum assured & the bid value of units less any indebtedness is payable
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If death occurs before the 30 days after diagnosis/occurrence or prior to the illness the bid value of the units less any indebtedness is payable.
A 90 day waiting period is applicable after purchase or reinstatement.
EXEMPTIONS
There are some conditions under which the plan will not pay (please discuss with your advisor).
Claims must be made no later than six (6) months after the first diagnosis or occurrence of any of the insured events.
ILLNESSES/EVENTS COVERED
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Alzheimer’s Disease
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Heart Valve & Structural Surgery
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Angioplasty (coverage ceases at age 65)
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Kidney Failure
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Aorta Graft Surgery
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Loss of Limbs
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Benign Brain Tumor
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Loss of Speech
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Blindness
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Major Organ Transplant
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Cancer
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Major Organ Failure requiring transplant
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Coma
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Motor Neuron Disease
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Coronary Artery Disease Surgery
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Multiple Sclerosis
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Deafness & Loss of Hearing
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Occupational HIV
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Heart Attack
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Paralysis
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Stroke
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Parkinson Disease
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Major Burns
INVESTMENT
There is the opportunity to accumulate cash by investing in any combination of five investment funds. Persons should choose depending on risk profile. The funds are:
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Guardian Equity Fund
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Guardian Money market Fund
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Guardian Long Term Growth Fund
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Guardian Stabilization Fund
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Guardian Foreign Currency Indexed Fund
Details of these funds are to be discussed with your advisor.
PREMIUMS
Premiums are payable until:
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The date of death of the Life Insured
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The date any of the insured events as defined in the contract occurs
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The policy anniversary after the Life Insured attains age 75.
The plan has an automatic premium payment feature and allows premium to be paid from funds where this is sufficient and premiums are overdue beyond the Grace Period.