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Compare Insurance
Compare various types of insurance offered by Samos and across the industry.
Samos Insurance Team
July 22, 2024
4 min read
Insurance is a complex space with many products that cover different costs, risks, and outcomes in our lives.
While we all intend to be adequately covered in case of unfortunate events, many people wait until something urgent happens before taking action. Samos created Surgical Risk Insurance (SRI) to give confidence to those facing the uncertainty of surgery.
SRI insurance is most closely related to two other common insurance products: Term Life and Accidental Death & Dismemberment (AD&D).
It can complement these types of insurance or provide additional coverage for individuals who may not qualify for Term Life or AD&D due to pre-existing conditions or timeline constraints.
Always consult with financial and insurance professionals when it comes to your health and financial security.
We've put together a summary of the most common types of insurance products to help you compare.
For more information about Samos' Surgical Risk Insurance, call 1-866-875-1999 or email us at [email protected].
Surgical Risk Insurance (SRI)
What is it?
Surgical Risk Insurance (SRI) covers accidental death for covered procedures or surgeries.
SRI is purchased for a specific scheduled surgery, and pays out up to $200,000 to the beneficiary.
How does it work?
If the insured experiences an accidental death during a covered procedure, the beneficiary receives the benefit amount.
What's typically excluded?
- Coverage is limited to elective surgeries currently covered.
- Only covers accidental death - not dismemberment or injury due to surgery.
Samos Birth Insurance
What is it?
Samos Birth Insurance covers accidental death during birth procedures.
This policy is purchased for a specific birth procedure and pays out up to $200,000 to the beneficiary.
How does it work?
If the policyholder suffers an accidental death during a covered birth procedure, the beneficiary receives the benefit amount.
What's typically excluded?
- Coverage is only offered to individuals in Canada over 20 years old.
- For more detailed exclusions, please email [email protected].
Life Insurance
What is it?
Covers death due to both natural causes or accidents (within certain exclusions or time periods).
How does it work?
A term or permanent life policy is signed (sometimes including a medical exam), and monthly premium payments are made until the maturity date or the date of death.
What's typically excluded?
- Dismemberment and disability
- Specific cases such as suicide within the first 2 years of the policy (varies by provider)
Accidental Death & Dismemberment (AD&D) Insurance
What is it?
Covers unexpected death or injury/dismemberment - not due to natural causes (e.g., illness).
How does it work?
On-demand policies cover accidental death and can either be standalone or supplemental coverage for unpredictable events.
What's typically excluded?
- Death due to medical treatment or surgery.
Choosing the Right Coverage
Each type of insurance provides a different level of protection depending on your situation, health history, and financial goals:
| Insurance Type | Covers | Typical Benefit | Common Use Case |
|---|---|---|---|
| Surgical Risk (SRI) | Accidental death during covered surgery | Up to $200,000 | Peace of mind before scheduled procedures |
| Birth Insurance | Accidental death during birth | Up to $200,000 | Protection during childbirth |
| Life Insurance | Natural or accidental death | Varies by policy | Family protection, income replacement |
| AD&D | Accidental death or dismemberment | Varies by policy | Supplemental coverage for unexpected events |
If you're unsure which policy best fits your needs, speak to a licensed insurance advisor to explore how different coverages can work together.
For more information about Surgical Risk Insurance or any of our products, contact us at 1-866-875-1999 or [email protected].
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