Life insurance FAQs

Canadian residents, excluding Quebec, aged between 20 and 80 can apply for life insurance. Get in touch with our licensed advisors today to discuss eligibility and the best coverage options for your needs.

No medical or blood tests are needed to apply, simply answer 8 simple health questions over the phone with one of our Canadian-based licensed advisors.

No, FiftyUp Life Insurance only provides single life coverage and must be purchased by the person whose life is being insured. However, you may be able to take out final expenses insurance on behalf of someone else. Get in touch with one of our licensed insurance advisors to find out more.

FiftyUp Life Insurance covers natural death, including death from illness, age-related conditions, or other natural causes, provided the policy is active and all terms have been met. Be sure to read our Policy Document to understand any waiting periods or exclusions.

During the first 24 months of your FiftyUp Life Insurance policy, suicide is excluded. Additionally, we won’t pay a death benefit or refund premiums if the policy is voided due to material omission, misrepresentation or fraud.

You can cancel your FiftyUp Life Insurance policy at any time. If you cancel early, you’ll stop making payments and your coverage will end. Keep in mind, cancelling means your beneficiaries won’t receive a cash payout if something happens to you. If you’d like to review your options, speak to one of our licensed advisors before making a final decision.

Yes, FiftyUp Life Insurance policies do end. Coverage can end for several reasons, including if the policy is cancelled by the policyholder or by us, if premiums are not paid (resulting in a lapse), when a claim is paid (such as for terminal illness or death), or automatically when the insured person reaches their 85^th birthday.

FiftyUp Life Insurance is designed to offer reliable coverage when your loved ones need it most, but there are a few important things to keep in mind. It doesn’t cover every situation and excludes death that occurs due to suicide within the first 24 months. Additionally, if false or incomplete information is provided during the application process, your claim may be denied. It’s important to review your policy’s exclusions to understand exactly what’s not covered.

Yes, with FiftyUp Life Insurance, you will get an accidental death benefit in addition to the standard death benefit, which means your benefit amount will be doubled in the event of an accidental death.

With FiftyUp Life Insurance, depending on your age, you can choose a coverage amount from $25,000 to $250,000. To know how much coverage is right for you, consider your family’s financial needs, debts, and future expenses. Alternatively, speak with one of our licensed insurance advisors to help find the right coverage amount for your needs.

With FiftyUp Life Insurance, you can change your beneficiaries at any time. You can choose up to five beneficiaries to receive your insurance benefit after you pass away. Simply download the beneficiary form to nominate one or more beneficiaries.

A life insurance beneficiary can’t be changed after the FiftyUp Life Insurance policyholder has passed away. Once the insured person dies, the beneficiaries listed (up to five) on the policy at the time of death are final. That’s why it’s important to review and update your beneficiaries regularly, especially after major life events like marriage, divorce, or the birth of a child or grandchild. This will ensure your wishes are carried out, and the right people receive the benefit.

Only the policy owner can change the beneficiaries of their FiftyUp Life Insurance policy. You’ll have to fill out a Nomination of Beneficiaries Form on our website. Beneficiary changes can’t be made by anyone else, including the beneficiaries themselves.

FiftyUp Life Insurance will pay you your full benefit as a lump sum if you are diagnosed with a terminal illness with 12 months or less to live¹. Take a look at your policy document for more details. If you have questions, get in touch with one of our trusted licensed insurance advisors.

Currently, FiftyUp Life Insurance offers single-life coverage, meaning you can take out a policy for yourself. If your partner would like coverage, they can request a separate quote and apply for their own policy.

You can choose a coverage amount from $25,000 to $250,000 with FiftyUp Life Insurance, depending on your age, needs and eligibility.

Yes, your FiftyUp Life Insurance policy provides worldwide coverage, as long as you're a Canadian resident (excluding Quebec), between 20 and 80 years old at the time of application, and you continue to pay premiums from a Canadian bank account. Your coverage remains in effect until age 85, when the policy ends.

If you're travelling outside of Canada, your coverage stays in place. Please be aware that claims related to deaths occurring overseas may take longer to process because they require additional verification. However, you can have confidence that we will handle each claim with care and attention.

If you decide to move outside of Canada after your policy is active, your coverage can continue as long as you keep making your premium payments from a Canadian bank account. This requirement helps ensure your policy stays active while you live abroad.

At FiftyUp, we understand that making a life insurance claim comes during a challenging time, so we aim to keep the process as smooth as possible. Once we receive the completed claim form and all required documents, most claims are processed within 2 to 5 business days.

To be eligible to apply for FiftyUp Life Insurance, you must be a Canadian resident (excluding Quebec) and between the ages of 20 and 80 at the time of application. If you're ready to take the next step, get in touch and speak to one of our licensed advisors for a quote now.

Your FiftyUp Life Insurance policy provides coverage as soon as it becomes active for any cause of death including accidental death and terminal illness. However, death resulting from suicide or attempted suicide within the first 24 months of the policy are not covered.

Check your policy document or full details about your FiftyUp Life Insurance benefits. If you have any questions, our licensed advisors are here to help. You can reach us by email at support@fiftyup.ca or call us at 1-844-339-96611-844-339-9661.

With FiftyUp Life Insurance, your benefit amount automatically increases by 3% each year to help keep up with inflation. If you’d like to make changes beyond this automatic increase, such as decreasing your benefit, please contact us at 1-844-339-96611-844-339-9661 to discuss your options.

Your FiftyUp Life Insurance premiums will change over time. Factors such as automatic benefit increases, changes in your coverage, or age-related adjustments can affect the cost of your policy. Be sure to review your policy renewal documents, and if you have any questions, contact one of our licensed insurance advisors.