Life Coverage: Each child covered will be issued by the insurer a fully paid up 5 year term life insurance policy in the amount $5,000 upon the maturity of the Scholarship Agreement or reaching the age of 18, whichever is later. At the same time, each insured child will have the option to purchase up to $20,000 without evidence of insurability.
Accident Coverage: With Beneficiary Insurance many Injuries and Accidents that result in a loss can be covered for up to $5,000.
Accident Expense Reimbursement: When a child, under the regular care of a Physician as a result of the injury requires and receives treatment within 30 days of the Accident, the insurer will pay reasonable expenses incurred within one year from the accident for expenses such as: hospital services, ground ambulance, the employment of a registered nurse, customary treatment by a chiropractor, physiotherapist, rental of crutches or wheelchair, and prescription drugs. The aggregate amount payable under the Accident Expense Reimbursement Benefit is $500 in respect of any one accident. Individual limits may apply, please see the policy certificate for more details.
Emergency Out-of-Province / Country Accident Coverage: When an Injury from an Accident occurs outside an insured child’s province of residence and requires emergency treatment of the child by a Physician, in addition to any reimbursement provided under the Accident Expense Reimbursement Benefit, the insurer will pay the expense actually incurred for hospital expenses, x-rays or laboratory services as may be requested by the attending Physician. The aggregate amount payable under this benefit is $15,000 in request of any one Accident, less the amount allowed by any provincial health plan.
Dental Coverage: When Injury from an Accident occurs within 30 days to a maximum of $500 per tooth, and subject to an aggregate amount of $750 per Accident.
Cost: $0.75 a month or $9 a year.
Plans: All of the above coverages form Beneficiary Insurance, this includes: Life coverage, Accident Coverage, Accident Expense Reimbursement, Emergency Out-of-Province / Country Accident coverage, and Dental Coverage can be included in all 3 of the plans: Group Option Plan, Self-Initiated Option Plan and the Achievers Plan