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- A 20-year UV term life insurance policy with $500,000 in coverage starts at $31.50 per month for a 20-year-old male and $22.50 per month for a female
- UV Insurance offers term life insurance (Term Superior+), whole life insurance (non-participating), and critical illness insurance (AdapCI) with no-medical-exam options for simplified approval
- UV Insurance offers no-medical-exam options for up to $500,000 (term) and $150,000 (whole life)
- The company provides high coverage limits, a fast online application process, and a complimentary severe loss of autonomy rider, which pays 50% of the death benefit if policyholders lose independence before age 60
- What are the key features of UV life insurance?
- What are the different UV life insurance plans I can choose from?
- Which is better, permanent or term life insurance?
- What is the cost of UV life insurance?
- What are the pros and cons of UV life insurance?
- How to apply for UV life insurance?
- Frequently asked questions
UV Insurance has been a trusted provider of financial protection in Canada since 1889, growing from a Quebec-based fraternal society into a nationally recognized mutual insurer.
UV is known for its flexible coverage options, no-medical-exam policies, and unique benefits, such as a severe loss of autonomy rider included at no extra cost.
In this article, we’ll discuss the different life insurance products offered by UV Insurance, their key features, benefits, and plan options.
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What are the key features of UV life insurance?
UV Life Insurance is designed to provide financial security with flexibility and ease of access. Here are its standout features:
| Feature | Details |
| Guaranteed renewal & conversion | Term policies renew every 10 years until age 85 and convert to permanent coverage without medical exams |
| No-medical-exam options | Term life up to $500,000 and whole life up to $150,000 without medical underwriting |
| Severe loss of autonomy benefit | Pays 50% of the death benefit if unable to perform 4/6 daily living activities before age 60 |
| Critical illness coverage | Covers 24 critical illnesses and offers premium refunds after 10 years |
| Cash value growth | Whole life policies accumulate tax-advantaged cash value, accessible via loans or withdrawals |
What are the different UV life insurance plans I can choose from?
UV Life Insurance offers both, temporary coverage with Term Life Insurance (Superior+) and lifelong security with Whole Life Insurance., UV insurance also offers critical illness protection through its AdapCI plan.
Here are the types of life insurance policies you can consider from UV insurance:
Term Life Insurance (Superior+)
UV’s Term Life Insurance provides coverage up to $5 million, making it a strong choice for individuals seeking affordable, high-limit protection. It is available in term lengths of 10, 15, 20, 25, or 30 years and is renewable every 10 years until age 85.
Policyholders can convert their term policy into permanent coverage before age 70, offering long-term flexibility. Additionally, Simplified Issue Term Life Insurance allows coverage between $10,000 and $499,999 without a medical exam. However, for amounts exceeding $500,000, a medical exam is required.
Whole Life Insurance
UV’s Whole Life Insurance is designed for those seeking permanent protection with cash value accumulation. It offers various plan options based on payment flexibility and financial objectives.
- The Whole Life High Values plan focuses on maximizing cash value at age 65 or after 20 payments, making it ideal for individuals prioritizing wealth growth
- The Adaptable Whole Life plan allows no-medical-exam coverage up to $2 million, with flexible premium payment options for added convenience
- The Pay to 100 provides lifelong coverage with premiums payable over 20 years, offering long-term stability
All of UV’s whole life plans come with fixed premiums, high surrender values, and tax-advantaged cash value accessibility, making them a reliable choice for those focused on long-term financial planning.
Critical Illness Insurance (AdapCI)
UV’s AdapCI Critical Illness Insurance offers financial protection against serious medical conditions, covering 24 critical illnesses (such as cancer and stroke) and 4 non-critical conditions (including coronary angioplasty).
A key feature of AdapCI is its premium refund option after 10 years, providing financial relief for policyholders who remain healthy. Additionally, policyholders may receive $1,500 per month for up to 2 years in prolonged disability payments.
Another unique advantage is Teladoc Services, which provides policyholders 24/7 access to medical and legal support.
| Plan type | Coverage details | Key features |
| Term Life Insurance (Superior+) | Coverage up to $5 million | Renewable every 10 years until age 85, convertible to permanent insurance before age 70 |
| Whole Life Insurance | Coverage up to $2 million | High cash value accumulation, fixed premiums, flexible payment terms |
| Critical Illness Insurance (AdapCI rider) | Covers 24 critical illnesses & 4 non-critical conditions | Premium refunds after 10 years, disability payments, Teladoc medical support |
Which is better, permanent or term life insurance?
The choice between permanent and term life insurance depends on your needs. Term life insurance is affordable and provides coverage for a set period, ideal for temporary needs like mortgage payments or raising children.
Permanent life insurance offers lifelong coverage and builds cash value, making it better for estate planning or long-term financial goals. If cost is a concern, term insurance works well. But, for lasting benefits and asset growth, permanent insurance is the better choice.
What is the cost of life insurance from UV?
The cost of UV Life Insurance depends on factors such as age, health, coverage amount, and policy type. For example, a 20-year term policy with $500,000 in coverage under the Term Superior+ plan starts at $31.50 per month for a 20-year-old male and $22.50 per month for a female.
The table below shows the cost of term life insurance from UV based on a 20-year term policy with $500,000 in coverage*:
Cost of UV term life insurance
| Age | Male ($/mo) | Female ($/mo) |
| 20 | $31.50 | $22.50 |
| 25 | $31.50 | $22.95 |
| 30 | $31.50 | $22.95 |
| 35 | $33.30 | $25.20 |
| 40 | $48.60 | $35.55 |
| 45 | $76.95 | $54.90 |
| 50 | $135.45 | $90.90 |
| 55 | $250.20 | $170.55 |
| 60 | $433.80 | $309.60 |
*These costs are for non-smokers in good health under the Term Superior+ plan with $500,000 in coverage for a 20-year term.
What are the pros and cons of UV life insurance?
UV Insurance offers several advantages such as no-medical-exam options, high cash surrender values, and a complimentary severe loss of autonomy rider.
The company also provides high coverage limits, a fast online application process, and mutual insurer benefits that prioritize policyholders. However, there are some limitations to consider.
Term premiums increase at renewal, and whole life policies do not offer dividends, which may be a drawback for those looking for long-term cash accumulation.
Additionally, critical illness coverage is limited, and some products are not available in all provinces.
Pros and cons of UV life insurance
| Pros | Cons |
| No-medical-exam options up to $500,000 (term) and $150,000 (whole life) | Term premiums increase at renewal (every 10 years) |
| Complimentary extreme disability benefit rider (loss of autonomy) | Whole life policies do not offer dividends |
| Quick online application with instant decisions | Not offered in some Canadian provinces |
| Multiple rider options for added coverage | Critical illness rider limited to 24 months and covers only stroke, heart attack, or cancer |
| Extensive no-medical-coverage options, including express issue policies with instant coverage (no waiting period) | Health, travel, and disability insurance coverage only available through group policies |
| High coverage amounts available, up to $5 million | Limited options for conversion—only one type of permanent policy available (non-participating) |
| Fast and easy online application process with electronic policy delivery |
How to apply for UV life insurance?
To apply for a UV life insurance plan you would need to choose the plan type, choose your coverage options, fill in an online application form, and submit it.
For the best UV life insurance quotes, speak to our experts at PolicyAdvisor. Our licensed advisors will help choose a plan and coverage options that best suit your needs and budget.
We will also support you with the application, making the entire process seamless and easy for you!
Frequently asked questions
What types of life insurance does UV offer?
UV Life Insurance provides several coverage options, including term life insurance (Term Superior+), whole life insurance (non-participating), and critical illness insurance (AdapCI). Term life policies can be renewed and converted into permanent coverage, while whole life policies build cash value over time.
Is a medical exam required for UV life insurance coverage?
A medical exam is generally required for fully underwritten policies that exceed simplified issue limits. However, UV offers simplified issue policies that do not require a medical exam, making it easier for those with health concerns to qualify.
How long does a UV life insurance application take to get approved?
Approval times for UV life insurance depend on the type of policy. Simplified issue policies can be approved instantly, while fully underwritten policies may take 2 to 6 weeks due to the medical underwriting process.
Can a UV term policy be converted to permanent coverage?
Yes, UV’s term life policies include a guaranteed conversion option, allowing policyholders to switch to permanent coverage before their term expires, regardless of health changes.
UV Insurance is a well-established Canadian mutual insurer offering a range of coverage options, including term life (Superior+), whole life (non-participating), and critical illness insurance (AdapCI). The insurer offers no-medical-exam options, and unique benefits like a severe loss of autonomy rider. Policyholders can choose from coverage amounts up to $5 million for term life and $2 million for whole life, with term policies renewable until age 85 and convertible to permanent insurance.
