Who is eligible for insurance under this plan?
As eligibility can vary by product, please check the individual Product pages for detailed information on Member, Spouse and Dependent Children eligibility.
What happens once I apply?
Once IAP receives your application, our underwriters will review it. You and/or your Spouse (if applying) may be requested to provide additional medical information at this time. Typically, applications take approximately three to five weeks to process, but if additional medical information is required, the process may be longer.
If the application is approved, an approval letter and a Certificate of Insurance will be sent to you for your review and acceptance. If the application is not approved, you will receive a notification letter and a full refund of any premiums paid.
When does coverage begin?
Coverage begins once the application is approved and first month's premium is received by IAP.
When does my coverage terminate?
With respect to Term Life and Accidental Death & Dismemberment Insurance, your coverage will terminate on the earliest of the following dates:
- the end of the month in which your written request to cancel your insurance is received by IAP;
- the end of the month in which you are no longer eligible;
- the due date of any unpaid premiums;
- the date the Group Master Policy between your Alma Mater and IAP terminates;
- the end of the policy year following the date you reach age 85.
With respect to Critical Illness Insurance, your coverage will terminate on the earliest of the following dates:
- the end of the month in which your written request to cancel your insurance is received by IAP;
- the end of the month in which you are no longer eligible;
- the due date of any unpaid premiums;
- the date the Group Master Policy between your Alma Mater and IAP terminates;
- the end of the policy year following the date you reach age 75;
- the date the Critical Illness Benefit is paid.
When does my Spouse's coverage terminate?
With respect to Term Life Insurance, your Spouse's coverage will terminate on the earliest of the following dates:
- the end of the month in which you are no longer eligible;
- the end of the policy year in which they reach age 85;
- the end of the month in which they are no longer eligible as a "Spouse".
With respect to Critical Illness Insurance, your Spouse’s coverage will terminate on the earliest of the following dates:
- the end of the month in which you are no longer eligible;
- the end of the policy year in which they reach age 75;
- the end of the month in which they are no longer eligible as a “Spouse”;
- the date the Critical Illness Benefit is paid.
When does my Dependent Child's coverage terminate?
With respect to Dependent Children Term Life Insurance, your Dependent Child's coverage will terminate on the earliest of the following dates:
- the date your Term Life Insurance terminates;
- the end of the month in which they are no longer eligible as a "Dependent Child".
How much will coverage cost?
IAP offers a quick and convenient eQuote for the following products: Term Life Insurance, Dependent Children Term Life Insurance, Accidental Death & Dismemberment Insurance and Critical Illness Insurance. Select the "Alumni eQuote" button on the side menu to start your custom quote.
You can also find rates for all of the products under your Alumni Association's Group Insurance Program on each of the Products pages, or call or email IAP for help determining your rates.
Do premiums stay the same?
Premiums for Term Life and Critical Illness Insurance are calculated based on the insured's attained age and applicable rate at the beginning of each Policy year. As the rates are in 5-year age bands, premiums will increase as an insured reaches a higher age band.
Premium rates for Dependent Children Term Life Insurance and Accidental Death & Dismemberment Insurance remain level.
What are the premium payment options?
There are a variety of convenient payment options to choose from. Payments can be made annually by credit card or cheque, or monthly by credit card or pre-authorized payments from your chequing account.
If you have chosen the annual payment option, IAP will send you a premium statement each year before your renewal date for you to return to us with your payment.
Can I change amounts of insurance?
Yes. To increase coverage, IAP requires the completion of a new application. You may print off the appropriate application in the "Apply Now" section or you can apply online for additional coverage Term Life, Dependent Term Life, Accidental Death & Dismemberment and/or Critical Illness Insurance. You may also request an application and brochure by calling or emailing IAP.
To decrease your coverage we require only your written authorization, which must be signed and dated. This request may be forwarded to IAP by mail or fax.
How do I make a claim?
Before paying any benefit we will require our claims forms to be duly completed and sent to IAP. Please call IAP at 1-800-266-5667 to obtain the appropriate forms and details on claims procedures.
