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How Does Buying Direct Life Insurance Work?

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Getting life insurance sounds like a positive thing to do. You’re helping to protect your loved ones from potential financial pressure and giving yourself peace of mind. Then you look at how time-consuming it could be, especially when you consider all the potential steps you could go through to get the right policy for you.  

At Seniors Choice, we want to make it as simple and straightforward as possible for you to secure high-quality personalised coverage. Canadian Seniors Life Insurance is a direct life insurance policy. This means that it’s only available directly from us. Meaning you can secure a policy without having to go through a broker. You can get a straightforward tailored life insurance policy without all the waiting around and filling out endless forms. You might not be familiar with buying direct life insurance so it can be important to understand what’s involved with the process. So, what does it mean to buy direct from an insurer?

What is direct life insurance?

As the name might suggest, rather than having to go through a middleman you can buy insurance direct from us. It means that you can secure an insurance policy over the phone with no long application forms to fill out. The great thing is that you can get a free no-obligation quote over the phone. There’s no commitment needed, you can just investigate it and see what you think.

When you buy directly, there's no need to go through a broker. Instead, our highly trained team is on hand to find you the right policy for your needs. During that phone call, we will explain everything you need to know about Canadian Seniors Life Insurance in a clear and concise manner. Getting coverage in place can be done over the phone in a matter of minutes. You don’t need to provide a medical check or blood test to get coverage in order to get Canadian Seniors Life Insurance you’ll just have to answer a few simple health and lifestyle questions.  

Is a direct life insurance policy different from other life insurance policies in Canada?

While direct life insurance might feature a different application process there is very little difference between it and a typical life insurance policy you would find from other providers in Canada. Of course, every life insurance policy has different features. However, we can assure you that the policies that Seniors Choice provides are of some of the highest quality available on the market today. The only difference is the application process, which you can complete over the phone without the need to go through a broker.  

However, you should remember that everyone’s needs are different, and you should fully investigate whether a Canadian Seniors Choice Life Insurance policy is suitable for your needs. We are confident that the policies we offer will stand toe to toe with any others on the market today. Allowing you to have peace of mind knowing that, when the time comes, our team of life insurance specialists will be there for the ones you care about most.  

How does it work?

Getting a life insurance policy with Seniors Choice is simple and straightforward. Even if you don’t fully understand some of the details on this page don’t be afraid to get in contact with us. Our highly trained agents are waiting to help you on your life insurance journey. In order to get the process started all you’ll have to do is get in contact with us toll-free at . Our team is available from Monday to Friday 9am to 8pm ET. 

From there we will ask you a few questions in relation to your benefit amount and other details to do with your policy. Don’t worry though it won’t take long! Once we have those details finalized, we’ll send you all of the information in our welcome pack. From there all you’ll have to do is make sure your monthly premiums are paid and you’ll have coverage for the rest of your life. If you’d like to learn more, you can check out our guide on how life insurance works

Things to consider

One of the benefits of buying direct is that you can get a lot more control over what is included in your life insurance policy. However, this means you should get familiar with a bit of life insurance terminology to help make the process even smoother.

Benefit amount

A life insurance policy is a legal agreement between you and an insurance company that if you pass away while the policy is in force, you will be paid a specified amount of money. This specified amount is known as the “benefit amount”.  

During your application for Canadian Seniors Life Insurance, you will discuss the benefit amount that you would like with a member of our team. It’s important to consider how much money your family might need and how much you would like to leave behind. The benefit amount you can apply for will depend on your age at the time of applying. Here are the benefit amounts ranges that are available to you depending on your age: 

  • 40 – 60 (Maximum $250k)
  • 61 – 70 (Maximum $200k)
  • 71 – 80 (Maximum $150k)

Premium amount

In order to maintain the coverage that you are paying for you will need to pay a monthly premium. This premium amount is the money that you will pay each month in order to maintain your coverage. It is vitally important that you pay your monthly premium on time each month. This will be agreed during the application. This will be agreed during the application. The cost of your monthly premium will depend on factors such as your age, gender, smoking status and the benefit amount you’ve chosen.

Age based policy 

Canadian Seniors Life Insurance is an age-based life insurance policy. This means that the monthly premium that you pay will increase each year on your policy anniversary based on your age. With a policy like this what you pay each month will start smaller and increase gradually over the years. Your benefit amount will also increase by 3% each year on your policy anniversary. You have the option to opt out of these increases. If you opt-out for 3 years in a row the benefit increases will be permanently removed from your policy. You should remember that even if you opt out of the benefit increases, your premiums will continue to increase each year.  

Whole-of-life policy

This term refers to how long the policy is for, if you continue to pay your premiums. At Seniors Choice, we offer whole-of-life policies as standard. So, once you have secured your policy you can sit back and relax with peace of mind that your loved ones will have some financial support when you pass away.

Life insurance without the stress

We understand you don’t want to be hanging around waiting for quotes and dealing with the uncertainty of whether you’ll be accepted for a policy. With Seniors Choice, you can rest assured that you’ll receive some of the highest quality customer care in the market. You won’t have to sacrifice protection for convenience. When you’re ready to secure high quality coverage, you can give our friendly Canadian-based customer service team a call at 1-844-991-3943. They’re available Monday to Friday 9am to 8pm ET (excluding public holidays).