COVID-19

Your iA Financial Group reference portal for all information relating to COVID-19.
Keep up with the latest news and access essential tools to facilitate remote work.
Your tools
Procedures and FAQ

Disability in the time of confinement: Adaptive measures for new business on Assure&go

May 6, 2020 2:58:05 PM / by iA

In this time of forced confinement, which is currently affecting part of the population due to the COVID-19 crisis, we have made short-term modifications to our product offer. 

In normal situations, clients must be actively working in order to be eligible for a disability product. Confinement, however, is not an act of free choice for anyone, so we found ways to insure your clients in the event of an accident or illness.

What will change for your clients in confinement?

  • The work status "Inactive due to confinement" is added to the application on Assure&go
  • Validation of number of working hours before the confinement (to qualify)
  • Acci-Jet Program is not available for clients who are not actively working
  • Possibility to access Superior Program, subject to some restrictions
  • Possibility to access Universal Loan Insurance, subject to some restrictions

Restrictions imposed on clients in confinement

Below are the restrictions applicable to clients in confinement at the time of application:

Specific features Superior Program Universal Loan Insurance
Waiting period 119/119+ days* 90/90+ days*
Regular occupation 2 years 2 years
Extension of the regular occupation period (2 to 5 years or 2 to up to 65 years) Not available Not available
Partial disability option Not available Not available
Business overhead expense Not available --
Benefits payable from the first day of hospitalization Not available for 119-day waiting period Not available at issue, but by amendment attached to contract, it will be available again at the end of confinement

*+Option allows benefit payment from the first medical consultation in the event of an accident.

What to do at the end of confinement

Advisors should ask clients to notify them as soon as their confinement period ends. When the client returns to work, all of the above-mentioned restrictions shall terminate, and a simple request for reconsideration will suffice to upgrade coverage if their health status has not changed in the past 12 months. Thus, the client could, for example, add or modify a waiting period or extend the duration of regular occupation from 2 to 5 years.

 

*Confinement has no impact on the sale of Access Life, Term Life Insurance, CancerGuard and Acci 7 PLUS.

Topics: Insurance, Tools

Written by iA