BMO, RBC, and Manulife sell guaranteed issue plans direct. Most guaranteed Issue plans offer limited face amounts of $25,000 or less and limit the death benefit for non-accidental death to a return-of-premium plus interest in the first two years. Bingham Group Services’ Guaranteed Issue Mortgage Insurance Plan must be linked to a loan, and coverage can be configured to the full amount of the loan up to $500,000, or to cover a partial loan, depending on the insured’s budget. On the downside, any pre-existing conditions, within 12 months from the policy issue date, will not be covered for the duration of the policy contract.
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