| Enhancement to the Supplementary Benefit
New conditions will be added to the Supplementary Benefit for the Enhanced and Child critical illness products. The coverage increases from four to eight medical conditions*. This enhancement provides even more comprehensive protection for clients and their families.
- Coronary angioplasty
- Prostate cancer
- Thyroid cancer
- In situ breast cancer
- Chronic lymphocytic leukemia
- Malignant melanoma of skin
- Tumeurs neuroendocrines
- Gastro-intestinal stromal tumours
Payment terms - New payment amount: 15% of the insured amount, with a maximum of $50,000 per claim (previously 10%).
- New maximum number of benefits: Four additional benefits per policy (previously one).
- Restrictions: The same illness cannot result in more than one additional benefit.
- The insured amount remains unchanged: The payment of additional benefits does not reduce the insured amount.
Type 1 diabetes is added to the list of covered illnesses for children’s coverage.
The child critical illness coverage is evolving with the addition of type 1 diabetes, now included in the following products: T75, T100 and T100 paid-up 20.
*Certain conditions apply |
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Repositioning critical illness insurance premiums
New band
To offer our clients more competitive options, we are introducing a new coverage band ranging from $50,000 to $99,000 for the Basic, Enhanced, and Child critical illness products.
New positioning
We have also adjusted our critical illness insurance premiums (including renewal premiums for T10 and T20) to better be in line with the market. This allows us to position ourselves favorably compared to our competitors.
Here are some examples of ranking*:
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T75 Enhanced CI – with ROP on Death and ROP 15 |
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T20 Enhanced CI – with ROP on Death |
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*Ranking is based on monthly premium comparaison of other comparable products, as published in LifeGuide as of March 17, 2025.
Withdrawal of ROP
We have withdrawn the Return of premiums (ROP) at expiry for T10 and T20. |
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Alignment of the insured amount with the Return of premiums (ROP) value
When the value of the Return of premiums on cancellation or expiry (ROP 15 – ROP 20) is higher than the insured amount, the insured amount is adjusted to match it. This applies to both new and existing policies.
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New surcharge calculation
We revised the surcharge calculation method as follows: |
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Conversion privilege
With the conversion privilege, clients can modify their coverage without providing evidence of insurability. This conversion can only be done within the same product generation. The new coverage maintains the same conditions and restrictions, including those related to critical illnesses and covered medical conditions.
Note: A new product generation will come into effect on April 15, 2025, and will apply to all policies issued from that date onwards.
Example: A client who has held a T10 critical illness product since 2014 and converts their policy in 2025 will keep the protections in effect at the time of enrollment. The conversion will be done according to the terms specified in their contract.
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The Children’s Endorsement rider is now available on all life insurance products
Good news! The Children’s Endorsement rider will now be available on more products. Your clients will have more flexibility to choose the right critical illness coverage for their children. They will be able to add this rider to all life insurance products, and to both new and in-force policies.
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Simplifying our underwriting requirements
Our products will be more accessible to our clients thanks to these changes.
Underwriting requirements – life insurance
From now on, the resting electrocardiogram (EKG) will no longer be a basic requirement for purchasing life insurance, regardless of the amount. Additionally, for clients aged 66 to 70, the paramedical exam and blood profile, including urine analysis, are no longer required for coverage up to $99,999.
For more information MIND0084.
Underwriting requirements – critical illness
To simplify the application process for obtaining critical illness insurance coverage, the paramedical exam and blood profile with urine analysis will no longer be required for clients aged 51 to 65 for coverage up to $99,999.
For more information MIND0085.
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All your tools available on April 15
Documents
We've put together a complete list of documents that will be updated for the launch. You can consult it now. New versions will be available starting from this date.
At all times, refer to the Beneva Document Centre to access the latest versions.
Electronic application
The Electronic application and the paper version will be updated. The paper version – Policy Application - Individual Insurance | FIND0035 (April 2025) is available for order starting today. The April 2024 version will be accepted until May 30, 2025. Please remember to destroy old copies.
Illustration software
The 3.0 version of the illustration software will be available for download.
With these improvements, you can better meet your clients' evolving needs and offer more personalized solutions.
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The Individual Insurance Team |
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