Insurer hears distributors' concerns, enhances product line through simplification

by 27 Jul 2015

One Quebec insurer looking to improve its coverage in the accident and disability lines decided to simplify things by creating a product that doesn’t require a medical exam.

La Capitale announced that it has enhanced its Pillar Series Income Protection product line by introducing Simplified Accident Insurance, disability insurance with a simplified application that protects income in the event of accident or injury.

It comes in response to a request from its insurance product distributors, La Capitale designed an accident insurance plan that is easy to purchase and doesn't require a medical exam.

“This word was our motto when designing the product. By answering three eligibility questions in the application form, a person can quickly obtain this coverage and benefit from the selected options,” said Kim Oliphant, vice-president of sales, brokerage channel, individual insurance, La Capitale. “Even though the base coverage has a wide scope, insureds can tailor the plan to their needs.”

This new income protection plan, an addition to La Capitale's popular Pillar Series insurance plans, is available to clients from ages 18 to 69.

“They can add an extension of the regular occupation definition to five years,” said Oliphant. “Accidental death or dismemberment, partial disability and accidental fracture coverage is also available.”

Simplified accident insurance covers income for employees, self-employed workers or business owners and provides up to $3,000 in monthly benefits. Included in the eligibility conditions is the requirement to work a minimum of 21 hours a week for 35 weeks have an insurable occupation.

The Simplified Accident Insurance plan does not integrate or coordinate benefits for the first six months of disability. Regardless of the amount selected, the total benefit is payable during the first six months even if income has changed or if the insured is receiving benefits from other sources. After this period, a minimum monthly benefit of $1,200 is guaranteed for up to 36 months. These features are part of what makes this product so easy, from applying to claiming.

La Capitale's Pillar Series is an income protection product line distributed by the country-wide brokerage network affiliated to La Capitale.

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