What are the limitations and exclusions?
Life Insurance
Suicide
No benefit will be paid if you take your own life within 2 years of the date the insurance coverage begins, whether your were sane or insane at the time of death.
For a Royal Credit Line, no benefit will be paid on any advance if you take your own life within 2 years of the date of that advance, whether you were sane or insane at the time of death.
Misrepresentation
No benefit will be paid if you fail to disclose information or you give incorrect information relating to the application.
War
No benefit will be paid if you die as a result of war, insurrection or similar hostilities, whether or not you were participating.
Pre-existing health condition
No benefit will be paid if:
You die during the first 12 months after the date you applied for LoanProtector Insurance (the exclusion period); and
You received treatment, took medication or consulted a physician/healthcare provider, for any health condition or symptoms, diagnosed or not, in the 12 months before you applied for LoanProtector (the pre-existing condition period); and
Your death is a result of, or related to, any health condition mentioned above.
For a Royal Credit Line, a new pre-existing condition exclusion will be applied to any advance. In this case, the exclusion period is the 12 months after the advance and the pre-existing condition is the 12 months prior to the advance.
Disability Insurance
No benefit will be paid if your disability was directly or indirectly the result of the following:
- Intentional self-inflicted injury whether sane or insane
- War, insurrection, or similar types of hostilities, whether or not you were participating
- Your participation in any riot or civil commotion
- Your committing or attempting to commit a criminal offence regardless of whether charges are laid or a conviction obtained
- Your pregnancy, other than physical complications of pregnancy
- Your alcoholism or drug addiction
Pre-existing health condition
No benefit will be paid if:
You become disabled during the first 12 months after the date you applied for LoanProtector Insurance (the exclusion period); and
You received treatment, took medication or consulted a physician/healthcare provider, for any health condition or symptoms, diagnosed or not, in the 12 months before you applied for LoanProtector (the pre-existing condition period); and
The disability for which a claim is being submitted is a result of, or related to, any health condition mentioned above.
For a Royal Credit Line, a new pre-existing condition exclusion will be applied to any advance. In this case, the exclusion period is the 12 months after the advance and the pre-existing condition is the 12 months prior to the advance.
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