Common use of Evidence of Insurability Clause in Contracts

Evidence of Insurability. ‌ Evidence of insurability deemed satisfactory by the Insurer must be submitted under the following circumstances: a) For participant’s optional life insurance (maximum: $100,000) in the amount of $100,000, requested within 30 days of the date on which she becomes eligible for that benefit; b) For any amount of participant’s optional life insurance (maximum: $100,000), requested more than 30 days from the date on which she becomes eligible for that benefit or for any additional amount of in-force participant’s optional life (maximum: $100,000); c) For any amount of participant’s optional life insurance (over $100,000); d) For any amount of spouse’s optional life insurance; e) For the addition of any further units of in-force participant’s optional life insurance (over $100,000) or spouse’s optional life insurance. The Insurer reviews the evidence of insurability on an individual basis for each insured person. It reserves the right to decline coverage to the participant or her spouse after reviewing the evidence. Lastly, when evidence of insurability must be submitted to the Insurer for an optional insurance benefit, any omission, non-disclosure or misrepresentation by the person concerned at the time of enrolment in this insurance benefit could nullify it and void the payment of the applicable insurance amount. Similarly, any omission, non-disclosure or misrepresentation by the person concerned at the time additional units of insurance are requested under this insurance benefit could nullify the additional units.

Evidence of Insurability. ‌ Evidence of insurability deemed satisfactory by the Insurer must be submitted under the following circumstances: a) For participant’s optional life insurance (maximum: $100,000) in the amount of $100,000, requested within 30 days of the date on which she becomes eligible for that benefit; b) For any amount of participant’s optional life insurance (maximum: $100,000), requested more than 30 days from the date on which she becomes eligible for that benefit or for any additional amount of in-force participant’s optional life (maximum: $100,000); c) For any amount of participant’s optional life insurance (over $100,000); d) For any amount of spouse’s optional life insurance; e) For the addition of any further units of in-force participant’s optional life insurance (over $100,000) or spouse’s optional life insurance. The Insurer reviews the evidence of insurability on an individual basis for each insured person. It reserves the right to decline coverage to the participant or her spouse after reviewing the evidence. Lastly, when evidence of insurability must be submitted to the Insurer for an optional insurance benefit, any omission, non-disclosure or misrepresentation by the person concerned at the time of enrolment in this insurance benefit could nullify it and void the payment of the applicable insurance amount. Similarly, any omission, non-disclosure or misrepresentation by the person concerned at the time additional units of insurance are requested under this insurance benefit could nullify the additional units.