Bridge Term

Bridge Term Advisor Guide

Advisor use only

Bridge Term at-a-glance

Issue ages are based on a proposed insured person’s insurance age, or the age at their nearest birthday. For example, if a Client is 48 years and seven months, the insurance age will be 49 years.

For Bridge Term, the owner and insured must be the same person, except in Quebec, due to Quebec law.

The Client can only choose Bridge Term once for one application. If the Client chooses Bridge Term now, we won’t offer it again to them if we postpone them on a future application.

Plan details
Term lengths	1-year term only
Smoking Classification	Non-smoker Smoker
Issue ages and ownership	Minimum issue age: 18 Maximum issue age: 65 Policy owner and insured must be the same person Policy owner cannot transfer ownership of the policy to someone else in the future, except in Quebec
Coverage options	Single life only Coverage is based on one insured person The death benefit is payable on the death of that insured person Joint and multi-life plans not available
Rate bands	$50,000 - $99,999 $100,000 - $249,999 $250,000 - $499,999	$500,000 - $999,999 $1,000,000 (maximum insurance amount)
Underwriting classes	Smoker/non-smoker Class 3: no nicotine for 12 months, good health and lifestyle Class 5: any nicotine use, fair health and lifestyle Note: occasional large cigar smokers (12/year) will be considered class 3
Changes to coverage amounts	Decreases are allowed any time after policy issue Increases to the insurance amount are not available
Convertibility and renewability	Non-renewable and non-convertible The policy can’t be converted to permanent insurance in the future The policy can’t be converted to a new term policy with a longer term length
Policy fees and premium payment options	Premium mode Annual Monthly	Policy fee $25.00 $2.25
Optional benefits	Not available
Special features	Clients can re-apply for life insurance within one year once they’ve completed outstanding tests. They don’t have to wait until the 1-year term ends.