Effective Date of Insurance (the date coverage takes effect) is the date the insurance company approves the application.
Changes in Coverage Amounts (increases in coverage) take effect once the insurance company approves evidence of good health. Decreases in coverage due to age take effect on the policy anniversary date (January 1) next following the change in age.
You may cancel your coverage at any time by providing written notice to Doctors Manitoba. Coverage ceases at the end of the period for which premiums have been paid.
No benefit is paid for death as a result of suicide within 24 months of the effective date of your coverage.
If you are no longer eligible for term life insurance under this policy and you are under age 65,
- your coverage will continue for 31 days, and
- during this 31 days, you may convert up to $200,000 of your coverage to an individual policy without evidence of good health.
You may also convert your Spouse’s Insurance (Plan B). Dependents’ Insurance (Plan A) may be converted for your spouse only, provided your spouse is not yet age 65.
Waiver of Premium
If you become totally and continuously disabled for a period of six months before age 65, premiums will be waived and your coverage will continue at no cost to you until you recover, die or reach age 75, whichever occurs first.
Third Party Ownership
If it is beneficial for estate planning purposes, you may assign ownership of your term life insurance to a third party.
The insurer can’t cancel your coverage as long as the master policy is in force and premiums are paid when due.
Termination of Insurance All insurance terminates on the earliest of the date:
- January 1 after or coincident with your 75th birthday
- any required premium is due and unpaid
- the policy is discontinued
- you are no longer affiliated with Doctors Manitoba
- you enter the armed forces on full-time active duty
In addition, Dependents’ Insurance (Plan A and B) terminates on the earliest of the date:
- January 1 after, or coincident with, the date your dependent ceases to meet the definition of eligible dependent
- your dependent enters the armed forces on full-time active duty
- your insurance under this policy terminates
If you die and premiums are paid, Dependents’ Insurance is continued until the end of the policy year in which you died.
Age means the age as of January 1st of each year (the policy anniversary date).
Dependent means your spouse and dependent children.
- your legal partner through a religious or civil marriage ceremony or
- the person who lives with you and is publicly represented as your spouse
Dependent children are your:
- unmarried children under age 18 (or under age 25 if enrolled as a full time student in an accredited college or university) who are principally dependent on you for support and maintenance
- children of any age who are dependent on you for support and maintenance because of a physical or mental infirmity