FiftyUp

FiftyUp: insurance aimed at Canadians over 50

FiftyUp is an insurance brand that presents itself as part of Canada's over-50 community and focuses its offer on Canadian residents aged 50 and up, excluding residents of Quebec. Its catalogue is built around two products, life insurance and final expenses insurance, both conceived to pay a lump sum to the policyholder's loved ones after death.

The company states that its products are designed to be easy to understand and quick to obtain, and that licensed advisors are available to help policyholders decide on the level of coverage that fits their circumstances and budget.

Life insurance with a simplified application

FiftyUp Life Insurance pays a lump sum to the family if the insured person passes away, with the aim of helping them meet ongoing expenses or unexpected costs. According to the information published by the company, applying does not require medical examinations or blood tests: the applicant answers eight health questions.

Final expenses insurance and guaranteed acceptance

FiftyUp Final Expenses Insurance is intended to reduce the financial burden of end-of-life costs. The lump sum can be used to cover funeral services, burial and cremation costs, outstanding bills and other expenses. The application also dispenses with medical examinations and blood tests, and acceptance is guaranteed for Canadians up to age 80, outside Quebec.

The company indicates that some products include a terminal illness benefit, defined as a diagnosis with a life expectancy of 12 months or less. This benefit excludes terminal illness or death resulting from attempted suicide or suicide within 24 months of taking out a policy.

Coverage and support for policyholders

Both products are presented as flexible, allowing the insured to choose an amount adapted to their personal situation and budget. FiftyUp states that its licensed advisors can guide users in selecting the most suitable level of coverage, and that policyholders can manage payment or contact details, resolve an outstanding premium notice or view policy documents through the My Account portal.

Claims are handled through a dedicated channel, and the company also offers the option of requesting an information brochure or asking to be called.

Editorial content and community focus

Beyond insurance, FiftyUp maintains a section called The Scoop, organised around categories such as financial matters, talking about it and wellbeing. Among the articles listed at the time of writing this profile are pieces on the differences between life insurance and final expenses insurance in Canada, hobbies to try in retirement, memory improvement, choosing beneficiaries for final expenses insurance and ideas for a celebration of life.

Underwriting and distribution

The site states that FiftyUp insurance products are underwritten by Teachers Life Insurance Society (Fraternal) and distributed by GFSC Life Inc., with an address at Suite 1600, 2 Sheppard Avenue E, North York, ON, M2N 5Y7. FiftyUp is described as a trade name registered by GFSC Life Inc. The company notes that its products are not currently available in the province of Quebec.