Navigating the insurance world can be daunting. We’ll serve as your starting point for the claims process to ensure that the process is as smooth as possible.
We will kick-off the claims process with Canadian Premier, whose team of experts will be responsible for reviewing and paying out the claim.
It depends on the circumstances of the claim and whether any additional documents are needed. In many cases, it could take as little as a couple of weeks for benefits to be paid. If your loved one passes away in the first two years of their policy term, it could take a little longer.
PolicyMe is a licensed agency and third-party administrator. We handle the application and underwriting processes, sales, and customer support. Our insurance partner, Canadian Premier (a wholly-owned subsidiary of Securian Financial), issues the policy, has a team of experts to review and process claims, and is responsible for death benefit payouts.
A cheque will be delivered to the rightful beneficiary (for life insurance) or claimant (for critical illness).
The industry standard exclusion in life insurance policies, including the policies we offer by Canadian Premier, is the suicide clause which states that a death benefit will not be paid out if the policyholder commits suicide within the first two years of buying their policy. Other than that, the only other main reason for being denied a claim is if the policyholder intentionally misrepresented any information in their application.
In rare cases, a non-standard exclusion may be added to a policy based on the answers provided during the policyholder’s application, for example if they worked in a high-risk profession. Your loved one’s insurance policy will contain all of these details.
Sure. Once we have completed an initial basic verification, we can give you an overview of the coverage and details of your loved one’s policy. However, we will first need to establish that you are the rightful claimant before sharing information.
We recommend all our policyholders to save their policy contract and ensure their beneficiaries have easy access in case of any unforeseen eventuality.