Key Person Failure to Survive Insurance
The underwriters will pay the amount shown in the schedule for the direct financial loss suffered by the assured resulting from non-performance of the insured contract due solely to the death or disappearance of the insured person during the period of insurance.
In the event that the insured contract is terminated, this insurance shall automatically and immediately come to an end simultaneously with the effective date of termination of the insured contract, without further notice.
Fill out the Key Person Failure to Survive Application Form here.
Policy & Underwriting Information
- The term of insurance up to 12 months
- Renewals are considered if continued coverage is needed
- No medical exams or medical records are required for application
Coverage would be appropriate for clients when...
- Coverage is needed quickly
- Completing a medical exam would be an issue
- Proposed insured is temporarily out of the S.A.
- Coverage is needed for a short period of time
- Health issues are a concern
- Issue limits are a problem
This is not intended to be a complete outline of coverage. Actual wording may change without notice.
Underwriters reserve the right to modify terms and benefits at time of underwriting.
Exclusions
- Suicide, intentional self-injury or the voluntary disappearance of the insured
- Active participation in terrorism or
- Nuclear, biological or chemical exposure as a result of terrorism or
- While committing or attempting to commit a
- Any emotional or psychiatric problems, including but not limited to neurotic disorders such as anxiety, phobias, depressions, dissociative disorders and obsessive compulsive disorders; psychotic disorders such as schizophrenia, paranoid psychosis and affective disorders; and personality disorders such as sociopathic
- Taking of illegal drugs, or addiction or misuse of prescription or non-prescription drugs.
- Alcohol abuse or addiction, being under the influence of alcohol, as defined by the vehicle code of the state or province in which the offense has
- Human Immune Deficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC) or any virus, complex or syndrome that is related to the fore- going or any sexually transmitted
- War, whether declared or not, between any of the following countries, namely, China, France, the United Kingdom, the Russian Federation and the United States of America.
- War in Europe, whether declared or not, other than: i. civil war ii. any enforcement action by or on behalf of the United Nations, in which China, France, the United Kingdom, the Russian Federation and the United States of America or any armed forces thereof are
- If the Insurer alleges that by reason of any exclusion a claim is not covered by this insurance then the burden of proving the contrary shall be upon the
- Pre-Existing Conditions which are physical, mental or chemical conditions which arise from any Accident or Sickness which was: a) not disclosed on the application, and b) for which the Insured Person sought any medical advice or treatment within twenty four (24) months prior to the effective date of this Certificate or which caused symptoms for which an ordinarily prudent person would have sought medical advice within that twenty four (24) month
Underwriting Guidelines
Notice must be given to the Insurer as soon as reasonably possible of anything which results or may result in a claim under this Insurance. The Insured must keep all records so that the amount of any claim can be determined. All such records must be available for inspection by the Insurer in the event of a claim.
This is not intended to be a complete outline of coverage. Actual wording may change without notice.
Underwriters reserve the right to modify terms and benefits at time of underwriting.