Frequently Asked Questions

Is it a guaranteed issue product?

No, Acceptional Life is fully underwritten starting with an application, medical and financial underwriting requirements based on age, amount and information disclosed on the application.

Are premiums guaranteed?

No, premiums may be adjusted for a Class Grouping i.e. a subset of policies with similar characteristics such as age, gender, or smoking status. Premiums cannot be adjusted in the 1st policy year, and only once in any subsequent 12 month period.

How does my client qualify for non-smoker rates?

Non-smoker rates require 12 consecutive months of non-use of any cigarettes, cigarillos, cigars, pipe, chewing tobacco, nicotine gum, nicotine patch, nicotine substitute, e-cigarettes, or tobacco in any form.

I thought suicide exclusions were limited to two years. Why do you have a longer one?

Except in Quebec, there are no limits on suicide exclusions, but most insurers have adopted a two year suicide exclusion policy.  Due to the nature of the target market for this product, the policy contains a suicide exclusion for the duration of the policy term.

Why are the premiums higher than regular products, if you are using exclusions?

Acceptional Life offers very high coverage limits, to individuals with significant medical and/or lifestyle history, who would otherwise not qualify for insurance. While exclusions provide some protection, the mortality on this product is still expected to be substantially higher than that for standard lives, and the premiums reflect this additional risk.

Why should my client accept a policy with an exclusion, when the excluded condition may represent the highest probability of death, with no benefit payable?

In order to provide coverage to someone with significant medical impairment(s) it is necessary to exclude death resulting from that impairment. However, there are many potential causes of death that remain fully covered under the policy thereby providing value to the applicant.

Why the other base policy exclusions? They aren’t in other life policies.

The base policy exclusions eliminate potential claims for certain activities and behaviours within the control of the person insured which pose significant risk of death. These exclusions are necessary in order to provide meaningful coverage to individuals for most “natural” and “accidental” causes of death.

Do you refund premiums if you don’t pay a claim due to an exclusion?

No, similar to other products that contain exclusions such as disability insurance, premiums are not refunded for an excluded claim. This is instrumental in achieving an affordable cost of insurance.

How do I get a quote?

Go to the Get a Quote page. Complete the information request form and a quote will be emailed to you following underwriter review.

My client was just declined by another insurer. Do I have to go through the entire application/underwriting process again?

If the decline was recent, we can begin to underwrite with completion of the Acceptional Life application. For further convenience, we will also obtain all evidence from the declining insurer. Only if the evidence is insufficient will requirements be ordered by Hunter McCorquodale.

How are you able to offer life insurance coverage when other insurers can’t?

Expert medical underwriting and innovative product design provide exceptional risk management which affords maximum flexibility to accept many challenging risks. Features include limited policy terms, unique standard policy exclusions and for the first time in Canada, the use of medical exclusions in life insurance.

Can you make an offer of insurance to every applicant? What are the chances of being declined for Acceptional Life?

Although it is anticipated that Acceptional Life coverage will be offered to the majority of those declined by other insurers, we are not able to offer it to all applicants. There are certain medical impairments or combinations of impairments that will not be considered. Follow this link to see a list of the most common Uninsurable Impairments.

What is required in order to renew the policy at the end of the term?

The policy is non-renewable. In order to continue insurance coverage at the end of the term, a new application and full underwriting is required. Premiums will be based on attained age and rates in effect at the time of the new application.

I have never dealt with the companies that are involved in distributing and insuring Acceptional Life. How can I be confident that my client and I will receive professional and competent service in underwriting, claims and customer service?

Hunter McCorquodale has been helping advisors across Canada meet complex and unique insurance needs since 1997 and has developed a strong reputation among advisors for knowledgeable, professional and responsive service. In a recent national survey, 97% of respondents indicated that they would recommend Hunter McCorquodale to their advisor peers.

Co-operators Life has proudly served Canadian citizens and communities since 1945. They are rated “A” (Excellent) by A.M. Best and have capital strength well in excess of regulatory requirements.

Click here to read more about Hunter McCorquodale or Co-operators Life.

The Co-operators® used under license from The Co-operators Group Limited.Co-operators Life Insurance Company is committed to protecting the privacy, confidentiality, accuracy and security of the personal information that it collects, uses, retains and discloses in the course of conducting business. Acceptional Life® is a trade-mark of Co-operators Life Insurance Company and is used under licence.