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Special Union Savings BenefitsWaiver of Premium The ACE Life Long Term Care Insurance Plan has a built-in waiver of premium provision so you will not have to pay premiums while you are on claim. Premiums paid up at age 100 Your policy becomes paid up at age 100. This means that you will no longer be required to pay premiums whether or not you are on claim. 
Guaranteed Renewable Premiums are not guaranteed, however your premiums will not increase due to your age or any changes in your health. Premiums can only be increased on a class basis (plan type and province). Spousal Discount If you and your spouse both apply for coverage and are both approved, you will each receive a 10% premium discount. Portability Your coverage is portable and can be used anywhere in Canada and the United States. Please note that benefits are paid in Canadian dollars up to the daily and lifetime Canadian dollar maximums. Tax Advantages Benefits received under this program are not taxable. There is no PST or GST payable on long term care insurance premiums. Authorized Designee (Third Party Notification) This allows you to name someone who can be contacted if your coverage is about to end because of overdue premiums. People with cognitive impairments may forget to deposit sufficient amounts in their bank accounts to cover their premiums, and could lose their coverage when they need it most. You may choose a friend, relative or a professional as your authorized designee. Plan Premiums - Frequently Asked Questions |