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Rates have increased by 4.5% on average for V08. Some rates have not changed while some have increased by more than the average.
The $150,000 Coverage Limit is now available up to age 69 for Standard and SCCO (previously only up to age 59).
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Expanded eligibility requirements. In addition to the V07 requirements, these added eligibility requirements now mean that
applicants with more severe cancers, organ transplant patients and anyone in a nursing home are also ineligible for any coverage under this policy.
You will now have to confirm that you have reviewed these eligibility requirements before you complete the application.
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The section called “Your Coverage Starts” has been modified and should be carefully reviewed with respect to any date changes that your might request.
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We have eliminated the section called Postponement of Your Start of Coverage and the associated form PSC-1407.
Any delays in your planned arrival date will now mean the effective date of the policy will need to be changed.
If this puts you into a new age band, any change in premium will have to be paid.
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The Insured Services section has been simplified to include everything to do with hospital, medical and physician charges in insured service #1.
The previous limit of $1,500 on diagnostic tests has been removed and this benefit is now part of insured service #1 with no specified maximum.
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Coverage for burial/cremation/transportation has been increased from $5,000 to $7,500.
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Accidental Dental has been increased from $1,000 to $4,000 and the $300 benefit for relief of dental paid has been removed.
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A new Change in Medication definition has been added. Please note its use in the Stable Chronic Condition definition and particularly
note that reductions in medications for a medical condition within the 180 day pre-ex period will now mean that condition is “unstable”.
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There are two new exclusions that stipulate the requirement to call the Assistance Centre for approval PRIOR to treatment being provided
except in extreme circumstances (as described in the policy). These treatments include: Cardiac catheterization, angioplasty and/or cardiovascular surgery,
magnetic resonance imaging (MRI), computerized axial tomography (CAT) scans, sonograms, ultrasounds or biopsies.
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The medical declaration questions have changed.
