Canada Life reveals details of individual life policies

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Canada Life has revealed details of its new individual term and critical illness products for the UK market.

The CanProtect products are level and decreasing term life with the option for accelerated critical illness cover, the critical illness component covers adults and children.

UnderwriteMe is Canada Life's partner for the comparison service to provide the opportunity for immediate cover.

Additional benefits on the policies include a medical treatment sourcing service and a bereavement and probate line for term assurance customers.

For the critical illness product there will also be a personal care assistance programme, supported by an online health risk assessment tool, a second medical opinion service and the Red Arc nursing support service.

Partners for these benefits include Health Assured and Medical Care Direct, which Canada Life already works with for its Group Insurance.

Canada Life already offers the CanProtect Whole of Life plan to UK and non-UK residents through Canada Life international.

Nick Harding, propositions and marketing director, distribution at Canada Life, said:"We believe that we have a responsibility to offer much more than just financial support and provide policyholders with access to a raft of high quality services, both pre and post claim.

"Insuring around 2.75m people in our Group Insurance business, we have leveraged our established relationships with additional services partners to provide significant support to individuals we insure - and their family members or loved ones - when they have a significant change in their life circumstances.

"Our new onshore CanProtect protection plans are designed to suit every budget and level of cover, providing genuine innovation in terms of the client purchasing process and the support that policyholders will receive.

"In a market which is constantly being challenged to grow, we believe that the combination of the UnderwriteMe technology and the tangible support we offer provides a unique opportunity to reposition protection as a priority rather than luxury consumer purchase.

"We believe that by working with UnderwriteMe we can achieve the same position for the individual protection market as we have for the group insurance market, where we are recognised as a leader in technology and value."

Further reading: 

Canada Life CI add on to new individual life products a 'welcome addition' - CIExpert

Canada Life returns to individual protection market

Increase in average life sum assured by HIV positive people

 

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