- They have been denied or rated for other life insurance products.
- They have health issues that would preclude coverage.
- They have risks that would make it difficult to insure for any reason.
Subject to the terms and conditions pertaining to this policy, the death benefit from Specialty Life’s Final Expense plan will be paid if:
The insured person dies a natural death after two years of this policy. Or, at any time, an accidental death will provide four times the Basic coverage as covered under the accidental death condition as laid out in the policy documents. See the Accidental Death Benefit Plan details for more information.
A natural death within the first 24 months will receive a refund of premiums paid.
If the insured person dies after two years of this policy and the death is accidental, four times the death benefit will be paid out as set out in the policy schedule.
The death benefit is payable only once for the insured person. There are some limitations and exclusions that apply to the circumstances surrounding the death. Please see the “When this Benefit is not Paid” for more details.
Claims of the basic death benefit are not subject to these above exclusions.
Please note that, with the exclusion of fraud, should the policy be declared void: the insured’s beneficiary is entitled to a refund of premiums from the effective date of the policy, or the date of its latest reinstatement — whichever is later.