Deferred Elite Life

Deferred Elite Life provides lifetime protection with guaranteed premiums that will never change, even if your health changes. The full coverage amount is payable for all Deferred Elite Life plans, if death occurs after two years or death is accidental. If death occurs in the second year and is due to non-accidental means, then 50% of the coverage amount is payable. If death occurs in the first year and is due to non-accidental means, then the death benefit is limited to a return of premiums paid plus 3% simple interest.

You may elect to pay the same premium for the life of the policy, or you may elect to pay a higher premium for only 20 years. Premium options include annual payments by cheque or credit card and monthly payments by preauthorized bank debits.

• The coverage amount will never decrease for the life of the policy.
• The premium amount is guaranteed and will never increase.
• Policies accumulate cash values beginning in the fifth policy year. If you choose to cancel your policy, any cash value will be paid to the policy owner. Satisfaction guaranteed or your money refunded – all Canada Protection Plan™ policies include a 10 Day Free Look Guarantee that gives you 10 days from the date you receive your policy, to review it and decide if it is right for you. If you decide to return your policy in those 10 days, we will refund your premium, no questions asked.

Every Deferred Elite Life policy includes, at no additional cost:

• a Terminal Illness Benefit, which pays up to 75% of the death benefit to a maximum of $250,000 to the policy owner upon diagnosis of a terminal illness.
• a Transportation Benefit, which assists with the cost of transporting the body of the Insured, if he/she dies more than 200 kilometers from their principal residence.

In addition, all Canada Protection Plan policies may include a number of non-contractual member benefits, offered by Foresters Life Insurance Company, the company which underwrites our policies. These are just a few listed, when you receive your policy, all benefits will be outlined.

• an online document preparation service helps create customizable wills, powers of attorney and healthcare directives *
• a competitive scholarship program to help with the rising cost of post-secondary education
• a renewable higher learning scholarship worth up to $6000 per year for four years for children of deceased members
• a financial grant allows members to create local activities that foster fun family time through unique opportunities
• an easy-to-use learning library offering a diverse range of over 200 online courses that can be accessed anytime, anywhere
• a monthly payment for orphans up to the age of 18 upon the death of both parents

* LawAssure online document preparation service is provided by Epoq, Inc. Epoq is an independent service provider and is not affiliated with Foresters. Not available in Quebec, the Yukon, the Northwest Territories and Nunavut. LawAssure is not a legal service or legal advice and is not a substitute for legal advice or services of a licensed legal advisor. Foresters Financial, their employees and life insurance representatives, do not provide, on Foresters behalf, legal, estate or tax advice.

For an additional premium, depending on your age, you may be eligible to purchase any of the following additional benefits:

• A term insurance rider that will provide a low cost option to increase your coverage for a temporary period of time. The term can be for 10 years, 20 years or 25 years. And the 25 year term rider can even decrease over time to cover a declining mortgage balance.
• Accidental Death Benefit which will pay up to 5 times the basic life insurance death benefit. This benefit will pay the chosen additional amount if the cause of death is accidental (as defined in your policy).
• Child Term Benefit which insures each eligible child for $5,000, $10,000 or $15,000 each.