Individual Life – CUMIS Term 20 Life Insurance Plan

Affordable Coverage for the Longer Term

Purchasing life insurance could be the most important decision you make toward protecting your family's future. Having the right amount of life insurance protection when you die will provide your family with a future that is financially secure.

Term life insurance provides protection for a limited period of time and pays benefits only if you die during the specified term.

CUMIS Term 20 insurance policy is ideal for anyone who wants longer-term protection. It's easy to purchase and can be used to protect your family during those crucial years when children are dependent.

Features:

• Coverage amounts range from $50,000 to $10 million
• CUMIS Term 20 may be purchased between the ages of 16 and 65 (on an age at last birthday basis)
• Guaranteed renewal rates
• 30 day 'free look' period
• Preferred rates are available to those who qualify

Flexible Coverage

CUMIS Term 20 offers protection right up to age 85, meeting both your temporary and lifetime protection needs. You choose the payment option and amount that suits your budget and needs. Every twenty years, you may renew your coverage at renewal rates. Even if your health has changed, you can not be turned down at renewal. At any time, you may apply to increase your coverage as your lifestyle and income change.

Free Legal Fee Benefit

Upon death, situations involving the settlement of an estate will usually require the services of a professional.  To assist, the CUMIS Term 20 policy provides your family with up to $1,000 toward the cost of legal fees that the beneficiary may incur.

Survivorship Benefit

In joint life cases where a life insured’s death occurs at an early age, the joint life insured may have to use death benefits to cover expenses such as childcare and mortgage payments – leaving little behind for heirs. This benefit, available only with joint first-to-die coverage, provides the surviving life insured the option to purchase their own single CUMIS Term 20 policy within 90 days of the death of the joint life insured, without having to meet any underwriting requirements.

Extra Death Benefit

Available only on joint first-to-die coverage, this benefit pays an additional 25 per cent of the death benefit if the one joint life insured dies of any cause within 120 days of the death of the other joint life insured. 

Conversion Privilege

As you move through life, it is likely that you will find that coverage is required beyond age 75. For instance, you may have the desire to set aside the proceeds from insurance for on-going income and taxes payable at death, and in that case your needs might be better served by a permanent insurance plan.

CUMIS Term 20 policyholders may convert their existing CUMIS Term 20 plan at any time up to age 70, to any level premium life policy then issued by CUMIS Life, without having to meet any underwriting requirements.

You may customize your plan by adding the following Optional Riders:

• Term Child Rider
• Disability Waiver of Premium Benefit
• Critical Illness Insurance Rider

Contact Information

For general inquiries, please contact:
CUMIS Customer Service at 1-866-772-6777, Monday to Friday, 9 a.m. to 7 p.m. (Eastern Time), please follow the prompts to speak with the appropriate representative for your needs.

You may also email us at cumis_service@cooperators.ca

To obtain a quotation on a CUMIS product, please contact:

CUMIS TeleLife at 1-800-263-9120 ext. 4848, or email us at TeleLife@cumis.com
Monday to Friday, 8 a.m. to 8 p.m. (Eastern Time).