Insurance Services

One of the most essential ways to help protect your family is Life insurance. It can protect your loved ones financial future. Life insurance works by providing your beneficiaries with a tax-free benefit upon your passing. This money can be used by your family to:

Pay off mortgage and debt

Maintain their lifestyle and pay day-to-day expenses

Cover your children’s education

  Whole Life Insurance is a form of permanent insurance that provides coverage for a lifetime, rather than a specified term. Depending on your plan the cost of the coverage is spread out over the lifetime of the policy or over a limited time period such 10, 15 or 20 years.

Additional features of Whole Life Insurance:

Guaranteed premiums that remain level throughout the life of the policy
Participating Whole Life Insurance policies earn dividends from the insurance company.
Guaranteed cash value – unlike Term Life Insurance, some of the money you pay in premiums accumulates as cash value. If you surrender the policy, this cash value would be available to you. In addition with some policies you are able to borrow against the cash value, but any amount that you haven’t repaid when you pass away reduces the death benefit.
How much coverage you require will depend on several factors such as your lifestyle, age, number of dependents, income and assets. 

 Getting over a critical illness can be one of the most challenging time for you and your family. Financial obligations such as remaining financially stable, supporting your family and unexpected medical bills can add stress when you need to concentrate on recovery.

Critical Illness insurance will provide financial support when you need it most. This form of insurance will provide a benefit if you are diagnosed with a covered critical illness or condition. The types of conditions and illnesses covered vary from insurer to insurer, but typically include:

certain types of cancer
stroke of defined severity
heart attack of defined severity
paralysis
loss of vision
kidney failure
multiple sclerosis
Alzheimer’s
organ transplants
Coverage may depend on degree of severity of the condition. For instance a diagnosis of cancer that can be treated and is expected to be recovered from quickly can make it ineligible to be claimed. In addition a Critical Illness policy cannot be obtained for a pre-existing condition.

An estimated 177,800 new cases of cancer occurred in Canada in 2011. Approximately one in two Canadians will develop cancer; three in four will survive1
Heart attacks strike 70,000 Canadians each year2
Strokes hit 50,000 Canadians each year3
Over 13,000 Canadians undergo surgery every year to replace aortic valves4
Nine in ten Canadians (90%) have at least one risk factor for heart disease or stroke5
Cancer
Stroke of defined severity
Heart attack of defined severity
Paralysis
Loss of vision
Kidney failure
Multiple sclerosis
Alzheimer’s disease
Major Organ Transplants
Aplastic Anemia
Heart Valve Replacement
Bacterial Meningitis
Deafness
Severe burns
Loss of speech
Benign Brain Tumor
Loss of Limbs
Major Organ Failure on Waiting
Parkinson’s Disease
Major Organ Transplant
Moto Neuron Disease
Coronary Artery Bypass Surgery
Loss of Independent Existence
Aortic Surgery
Coma
Occupational HIV Infection 

 Accidents and illnesses can happen at any time, in fact 1 in 3 people, on average, will be disabled for 90 days or longer at least once before age 65. In addition, a disability that can affect your for more than 90 days can statistically last over 2.9 years. Protecting your earning potential is as important as insuring your car or home. Disability insurance is designed to provide a source of income if you are unable to work due to a disability and offers guaranteed coverage and guaranteed premiums.

Why do you need Disability Insurance:

Worker’s Compensation only covers work related accidents
Unemployment insurance only covers 15 weeks
Medical and prescriptions costs can add up significantly
Government benefits are very limited
Group coverage will only match a percentage of your income and thus can be insufficient 

 Whether you’ve been denied life insurance in past due to your age, health, or any other factor; or you’re concerned you may be denied life insurance should you seek it, you can still be covered under a variety of policies. No Medical life insurance may be the perfect solution for you.

No Medical life insurance allows you to obtain coverage with no medical exam, insurance that can cover you through a specific term or for a lifetime.

Why Consider No Medical Exam Life Insurance?
You are a smoker.
You have been turned down for life insurance in the past.
You are overweight or suffering from health complications due to weight.
You do not want to go through a medical exam
With No Medical life insurance, all you need is to answer a few simple health questions to start your application. With no exam, life insurance can be accessible and functional. 

 Universal life insurance provides permanent life insurance protection with a tax-sheltered investment component. As cash values accumulate, they can be used to pay part or all of the cost of your insurance. Universal Life is the most complicated form of life insurance as there are many options to choose from in regard to all aspects of the contract (cost of insurance, premium amount, investment options, death benefit, etc). It is best to speak to an advisor to properly understand how UL policies work.

The benefits of Universal Life Insurance are most appropriate for:

People who have maximized their RRSP contributions
Parents and grandparents who want to maximize their estate for their children and grandchildren
Business owners looking for a tax-efficient way to protect the value of their business
Guaranteed Death Benefit 

 Protecting your family’s future and their home is an important reason for buying life insurance coverage. Getting insured by your mortgage lender, however, may not provide you with the right solutions and the control over your policy that you need.

The different life insurance coverage offers many coverage advantages that your lender does not. Having the freedom to choose the plan you need, and ensuring your loved ones get the full benefit of your plan, gives our term life insurance solutions an edge over mortgage insurance plans offered by your lender. 

  Joint life insurance also known as first to die insurance, charges a lower premium than two individual policies of the same amount. At death the policy pays out the insured amount. At that point the policy terminates. In some cases the surviving member has the option to purchase a policy at attained age for a maximum amount of the original policy. This type of insurance can be difficult to separate at time of divorce. Conversion options may also become limited. In a rare event such as a car accident, where both parties were to pass away only one policy would pay out. 

 Funeral and burial costs in Canada can easily add up to thousands of dollars. At this challenging time for your family a Funeral insurance benefit can provide security and alleviate financial burden from your loved ones.

Funeral Insurance can provide funds to cover:

funeral costs
outstanding debts and loans
final bills and estate taxes

 

 With healthcare insurance, you’re reimbursed for healthcare expenses that aren’t covered under government plans (dental care, vision care, etc.).

It’s the right choice for you if:

You don’t have group insurance coverage
You’re self-employed 

  Travel insurance products meet your specific travel concerns, and the offer is for both single trip and multi trip travel insurance, as well as trip interruption and travel accident coverage.