Union Heritage Life Assurance Company Limited - Insurance Information

Final Expense Plan (Whole of Life)

The Final Expense Plan is a whole of life assurance plan designed to take care of immediate financial needs placed on a family when a loved one passes away. As the name implies, families have the freedom of choosing the funeral home, location, and type of funeral when it is needed.

Whole of life policies provide you with the knowledge you will have permanent cover as long as you continue making your regular payments.

The death benefit is payable upon the insured's death regardless of how long the insured lives. Premiums are payable during the entire lifetime of the insured.

Term Life

Term life assurance policies are ideal for receiving the best cover for a set period of time, whether you are adding to a permanent policy or trying to meet a certain need. They can be adjusted to provide just the right amount of cover in any area of your life.

The death benefit is payable upon the insured's death only during a specific number of years. Premiums are payable during the entire term period. Conversion to a permanent plan of life assurance, such as whole of life, without new evidence of insurability is permitted during a stated part of the term period, and conversion periods end on a specific policy anniversary. The maximum amount of the new policy will be the amount of cover in force at the time of conversion.

Various terms are available to cover the needs of a temporary nature such as to pay off a mortgage or other loans, family income protection, etc. The death benefit can be paid as a lump sum payment upon the insured's death or can be spread out over several years to provide a monthly benefit amount to help the family adjust to the loss of the insured's monthly income.

Additional Insurance

ACCIDENT POLICY - The plan provides benefits for accidental death, loss of limb and blindness as well as hospital confinement and intensive care treatment if related to an accident. In addition, the policy pays a benefit if the insured has emergency room treatment as a result of an accident when treated within 72 hours of the accidental injury.

TERMINAL ILLNESS BENEFIT - This rider is added to all life assurance policies at no cost to the insured. The Accelerated Benefit pays fifty percent of the amount of cover when the insured is diagnosed with a terminal illness and has a life expectancy of less than 12 months. The policy premiums remain the same after payment of the Accelerated Benefit to the insured and the remainder of the policy proceeds are paid upon death of the insured.