Assuris

Examples of Critical Illness Insurance Protection


Example 1

Benefit

Original Policy
when Company Fails

Explanation

Assuris Protection
when Company Fails

    Cash Benefit
$50,000
    Since the amount is below $60,000, the Cash Benefit is fully protected.
$50,000

Example 2

Benefit

Original Policy
when Company Fails

Explanation

Assuris Protection
when Company Fails

    Cash Benefit
$100,000
    Since the amount is higher than $60,000, the 85% protection is applied to the Cash Benefit.
    ($100, 000 x 85% = $85,000)
$85,000
If the liquidator, appointed to manage the company failure, achieves a greater return on the policy than the Assuris protection, your benefits will be adjusted to the greater of either:
  • The Assuris protection or;
  • The amount recovered by the liquidator.