FAQ

Individual Clients consulting or conducting business with Winch Group Inc. and their advisors at the time of application and their spouses, under age 70 and residing in Canada. Your spouse can apply, even if you choose not to. 

In order to purchase Critical Illness Insurance for your children under the Winch Group Inc. Insurance Program you must already be insured for, or applying for Critical Illness Insurance. If both you and your spouse are Individual Clients, only one of you can apply to cover your children.

Here are some of the more important limitations and exclusions should be aware of:

Your Guaranteed Acceptance coverage is subject to a Pre-Existing Condition Exclusion. In general terms, this means that no benefit will be paid during the first 24 months after you purchase this insurance for any medical condition, or any evidence leading to a medical condition, which was present in the 24 months prior to your purchase. However, if you apply and are accepted for medically underwritten critical illness insurance, the Pre-Existing Condition exclusion will be removed.

Any covered condition or AdvanceCare Benefit Condition diagnosed prior to the effective date of coverage is excluded.

If the insured person is diagnosed with a benign brain tumour, cancer or early stage cancer within the first 90 days of coverage, or with multiple sclerosis or Parkinson's within the first year of coverage, a benefit will not be payable and the diagnosed condition will no longer be considered a covered condition for the insured.

A diagnosis of Benign Brain Tumour, Multiple Sclerosis or Parkinson’s within the applicable limitation period will also result in any condition under MEC Group 3 no longer being payable (specialmarkets.ia.ca/mec).

No benefit will be paid if the covered condition or AdvanceCare Benefit Condition results from attempted suicide, alcohol or drug abuse, war or armed forces service, self-inflicted injury, taking poison or inhaling gas or participation in a criminal act. There is also an exclusion for certain pilots.

For paralysis, blindness, deafness, severe burns, stroke, coma, or loss of limbs no benefit will be paid if the condition is a result of participating in amateur or professional boxing, bungee jumping, B.A.S.E. jumping, cliff diving, mountain climbing, motor vehicle racing or speed competition on land and/or water, parachuting or underwater activities, including scuba diving and snuba diving.

Some illnesses have exclusions, refer to the full illness definition list for details

Coverage terminates on the earliest of the following dates:

• the end of the policy year in which the Individual Client reaches age 75;
• the date of any unpaid premiums;
• with regard to your spouse's Critical Illness Insurance, the earliest of the above or the end of the policy year following the date they reach age 75, or the end of the month in which they no longer qualify as a "spouse".

With respect to children, coverage terminates on the earliest of the following dates:

• The date your coverage ceases for any reason.
• The end of the month in which they no longer qualify as a dependent child.
• The date the benefit is paid.

The Covered Condition Benefit is a tax-free, lump-sum benefit which will be paid if you are diagnosed with one of the 25 covered critical illnesses. This benefit will be paid to you if you survive for 30* days after first being diagnosed with one of the covered illnesses.

*90 days for Paralysis, Loss of Independent Existence or Bacterial Meningitis. 180 days for Multiple Sclerosis or Loss of Speech.

Spouse means the legal spouse of a member, providing there is no separation in effect, or an individual who has been residing in a marriage-like relationship with the member for a period of at least 12 consecutive months.

Dependent child means any natural child, step-child or legally adopted child to whom you are providing full parental support and who is unmarried and less than 21 years of age (up to 24 if they are full- time post-secondary student) as of the date of application.

Insurance will take effect on the date your completed application is received by Industrial Alliance Insurance and Financial Services Inc. and your first month's premium has been paid.