The new TRANSITION Critical Illness Insurance product offers clients full coverage with the flexibility to meet their specific needs.
One product, two versions:
- Transition – 25 Illnesses is designed for people who would like to get full coverage in the event of a critical illness and protect their retirement income, as well as those who would like coverage for aging-related illnesses (loss of independence, Alzheimer’s and many others).
- Transition – 4 Illnesses, accessible and greatly improved is a more affordable option with a fast and easy application process, to meet the needs of your various clients. This full version of the product provides young families with insurance coverage that fits their lifestyle and budget, either as term coverage or permanent coverage. Applying to Transition – 4 illnesses requires only eight very simple questions!
New for the Transition – 4 Illnesses product: Term coverage now features the “Decrease to 50%” option to meet the needs of the mortgage market.
Transition – 25 Illnesses and Transition – 4 Illnesses (plus 5 juvenile illnesses)
Transition offers your clients a number of coverage options to suit every lifestyle:
- Choice of term coverage for 10, 20 or 25 years, up to age 75 or for life
- Coverage of up to $2,500,000
- Return of premiums upon death (RPD) or flexible return of premiums (FRP), so clients have the added security of a liquid asset as early as the fifth year
- Prevention + benefit increased from 10% to 15% of the coverage amount, which covers conditions that are not life-threatening. The benefit can be paid out up to 4 times and covers seven illnesses or medical conditions.
New second medical opinion service
Second medical opinion service is now available for new and existing clients through MediGuide, a world leader in this area.
Clients who enrol in Transition get unlimited access to MediGuide’s second medical opinion service at no additional cost. If your clients are diagnosed with a critical illness (whether covered by the policy or not), this service gives them access to a group of medical specialists who can verify their initial diagnosis and recommend the best treatment plan.
Learn more by watching the video clip and see how MediGuide can help clients in difficult situations.
For full details on all changes made to critical illness insurance, see the following documents, available under “Products” on the Transition page in the Advisor Centre.
Products withdrawn from sale
Please note that Transition Simplified Issue and Transition Evolution products will be withdrawn from sale starting January 8, 2018. The F32A application form for Simplified Issue therefore no longer exists.
Applying for a Transition product
There are two ways to subscribe to a Transition product:
- With EVO: choose either 25 Illnesses or 4 Illnesses. The questions for each will be different. The 4 Illnesses product requires only 8 of the 19 simple questions, while the 25 Illnesses product requires all 19 questions.
- With the F1A or F3A paper application: the questions to fill in are identified on the form according to the choice of product (25 or 4 illnesses).
Marketing documents
The following documents have been updated to reflect the new Transition product. You will find them under “Critical Illness Insurance” on the Transition Page of the Advisor Centre.
- F13-435A | General client leaflet
- F13-437A | Definitions of covered illnesses
- F13-747A | A very real risk (critical illness statistics)
Watch for upcoming editions of iA Connected. You’ll discover new sales tools for presenting critical illness insurance to your clients effectively and decisively!