The Excellence Life Insurance Company is a Canadian life insurance company that was founded in 1963. Originally, it started out in Quebec and gradually expanded its operations to cover a great deal of Canada. By 1990, the company was doing so well that it established a headquarters in Montreal. In 2002, the company reinvented itself thanks to a new young dynamic management team. By 2007, Excellence Life was purchased by Industrial Alliance Insurance and Financial Services Inc., the fourth largest life and health insurance company in Canada. In 2008, the company started offering insurance products to the Atlantic provinces. Excellence Life prides itself on providing superb customer satisfaction. To achieve this, the company tries to mold their insurance products around the needs of its clientele.
Some of the insurance products mentioned above include disability insurance, loan insurance, accident insurance, health insurance and life insurance. Excellence Life offers three kinds of life insurance products: whole life insurance, term life insurance and guaranteed issue life insurance. Whole life insurance can best be summed up as a policy that provides lifetime coverage and a surrender value. There are four different kinds of whole life insurance policies; you can get a policy that is payable up to age 100, paid-up after 20 years, paid-up after 15 years, and paid-up after 10 years. To apply for whole life insurance, you must be under the age of 70.
Term life insurance is available through Excellence Life for either a 10 year or 20 year policy. You have the option of converting your policy to a whole life insurance one up until the age of 71. When your term is up, you can renew your term life insurance policy up until the age of 85. To apply for term life insurance, you must be under the age of 70. Some of the optional waivers you can add onto your policy include waiver of premiums in the event of total disability, accidental death and dismemberment, and child term life insurance.
Guaranteed issue life insurance, sold under the name of Excel-Life at Excellence Life, differs from other typical forms of life insurance in that it does not require you to undergo a medical exam. It is designed for individuals who have health problems that tend to result in higher premiums or application rejections. To qualify for this policy, you must be between the ages of 1 and 80. You can get coverage from $2,000 to $20,000, and the policy includes accidental death and dismemberment coverage for free.