PC Insurance launches new term life and critical illness insurance plans for Canadians

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Simpler is better when it comes to protecting your family

Toronto, ON (Jan. 22, 2013) – We all make New Year’s resolutions, whether it’s to eat better, exercise more or get our financial affairs in order. By this time each year, a few of us have already broken some of those promises. Among these resolutions to improve their quality of life, many Canadians regularly overlook a crucial question: are my loved ones protected should I become unexpectedly sick – or worse, pass away?

It’s not something most of us like to think about. With so many confusing insurance options to choose from, it’s no wonder many people put off tackling this question.

To help Canadians start 2013 off on the right foot, however, PC Insurance can help make this tough decision a little bit easier. PC Financial Insurance agency Inc. (PC Insurance) today announced that it has, along with The Canada Life Assurance Company (Canada Life), launched three new coverage options: PC Term Life Insurance, PC Critical Illness Insurance and the PC Family Protector Package. Underwritten by Canada Life, all options offer the ease and convenience for which the PC brand is known.

“Choosing life and critical illness insurance does not need to be a complicated process,” said Maria Forlini, Senior Vice President of President’s Choice Services Inc. “PC insurance has coverage options that are both simple to understand and surprisingly affordable compared to the potential cost of leaving your family unprotected.”

Online tools, as well as a toll-free number available on the site, offer an easy way for Canadians to calculate their insurance needs – and to get a free, no-obligation quote. Individuals can choose term life coverage amounts from $50,000 up to $250,000; there is no medical exam required to apply and answering seven simple questions is typically all that’s required to enrol.

Other features of PC Term Life Insurance

  • An additional $3,500 benefit for professional grief counselling or financial planning for beneficiaries – to help loved ones deal with their loss;
  • Once accepted, rates cannot be raised or coverage cancelled because of individual health situations;
  • Individuals can opt to receive up to 50 per cent of their coverage amount (to a maximum of $50,000) as a living benefit if they are diagnosed with a terminal illness and have less than 12 months to live;
  • If for any reason customers are not satisfied with their coverage they may cancel at any time – within the first 30 days of coverage, any premium charged will be fully refunded; and
  • PC Financial® customers who pay their premium with their President’s Choice Financial® MasterCard® or bank card earn PC points, redeemable for free groceries and merchandise at Loblaw banner stores across Canada.

Features of PC Critical Illness Insurance

  • Pays a benefit of between $25,000 and $100,000, depending on coverage, in the event that insured individuals are diagnosed with a covered critical illness;
  • Coverage for four core conditions: life-threatening cancer, heart attack, stroke and coronary bypass surgery;
  • Access to a global network of medical specialists to provide a second opinion or confirm a medical diagnosis, or to help customers find a specialist, understand their condition or navigate the healthcare system; and
  • Earn PC points when using the President’s Choice Financial® MasterCard® or bank card to pay premiums.

For Canadians looking for full coverage with maximum cost savings, the PC Family Protector Package offers consumers a unique opportunity to save 15 per cent when they combine the cost of premiums for both PC Term Life and PC Critical Illness Insurance.

“We all want to make sure our families are looked after should the ‘worst-case scenario’ happen, yet many Canadians have not checked or even questioned whether they have adequate coverage,” said TV personality, author and mother of four Kathy Buckworth, Chief Family Advisor for PC Insurance. “PC Insurance takes the guesswork out of insurance – while helping Canadian families balance their everyday spending and savings.”

For details on PC Insurance or to get a quote, please visit www.pcinsurance.ca.

About PC® term life insurance, PC® critical illness insurance and the PC® family protector package

Available online and by phone, PC® insurance offers simple and easy options to protect Canadian families, as well as their homes and vehicles. For more information about PC® insurance offerings, visit www.pcinsurance.ca.

PC Term Life Insurance and PC Critical Illness Insurance are arranged for by PC Financial Insurance Agency Inc. and are underwritten by The Canada Life Assurance Company. Full terms and conditions of coverage, including exclusions and limitations that apply, are set out in the Certificate of Insurance provided upon enrollment.

About Loblaw Companies Limited (TSX: L)

Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada’s largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ more than 135,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada’s strongest control (private) label program, including the unique President’s Choice®, no name® and Joe Fresh® brands. In addition, the Company makes available to consumers President’s Choice Financial® services and offers the PC® points loyalty program.

SOURCE: PC Financial Insurance