Moncton-based Assumption Life has enhanced its flagship life insurance product, Golden Protection.
Golden Protection Plus allows participants to index their original coverage amount by 3% annually — until the initial sum insured doubles, or the insured attains age 100.
“This ensures that the amount payable to the life insurance beneficiary increases with the cost of living,” says Larry Boudreau, vp, sales and marketing for Assumption Life.
“Clients often purchase life insurance to help cover the costs of their funeral arrangements to avoid burdening their loved ones with this responsibility after they have passed away,” explains Boudreau.
“This new feature of Golden Protection Plus makes it easier for Assumption Life to compete even more effectively in this growing market for funeral arrangement insurance.”
Besides offering the 3% annual indexation rate, Golden Protection Plus is identical in every way to Golden Protection and offers exactly the same benefits, including:
- Permanent life insurance for clients aged 40 to 80;
- No medical exam required;
- Uniform premiums and coverage;
- Guaranteed surrender value;
- Guaranteed death benefit:
- Immediate insurance — no waiting period; and
- Optional Accidental Fracture Plus rider.