Goose members have exclusive access to Term Life Insurance (Life), Critical Illness (CI) or Cancer Insurance, and Accidental Death and Dismemberment Insurance (AD&D).
Life, CI and Cancer insurance coverage limits: *
- $50,000 - Available to Members and their spouses between the ages of 18 to 54
- $25,000 - Available to Members and their spouses between the ages of 55 to 69.
AD&D Insurance coverage limit: *
- $50,000 - All members and their spouses between the ages of 18 to 69.
What's covered in these plans and how do they work?
- The Life insurance will provide a one time cash payment in the event an insured person passes away, subject to the terms & conditions of the policy. You decide who will receive the insurance payment (called the Beneficiary). The benefit amount is a fixed dollar amount:
- either $50,000 for eligible Goose members aged 18-54, or
- $25,000 for those between the ages of 55-69,
- with premiums starting at $5/month.
- Our Cancer & Critical Illness coverage is considered a ‘living benefit’ (vs Life insurance which pays a Death Benefit when the insured passes away). Coverage starts at $10/month and will provide a one-time tax-free payment to you in the event you’re diagnosed with any one of the 25 medical conditions listed in Goose’s Benefit Summary. This money can be used in any way you wish, like paying off debts, home adaptation, child care, investment, vacation, supplementing your pension, or lifestyle changes.
- The Accidental Death & Dismemberment policy (AD&D) pays up to $50,000 if you pass away as a result of an accident anywhere in the world, OR if you suffer a loss of or permanent total loss of use of a part of your body, such as an eye, or hand, or your hearing. The amount payable will depend on the type and severity of the injury. Eligible up to age 69.
For a full list of exclusions and limitations please review the Benefits Summary.
* Please note: Amounts listed above are the maximum amounts by benefit that any one person can be insured for under Goose Insurance Services Inc.’s Policy at any given time. This means an individual cannot have coverage as both a Member and a Spouse at any given time.
In other words, a person cannot buy three Goose Life insurance policies on themselves in order to 'stack' policy limits and have a $150,000 coverage amount. They can, however, purchase multiple policies of different types (separate Critical Illness, Life, and Accidental Death & Dismemberment policies, for example). All coverages terminate on the insured person’s 70th birthday.