Life is unpredictable. Now is the time to ensure your family’s future.
If someone relies on you for income or you rely on someone else, life insurance becomes a necessity. The income you earn now is a considerable asset to you and your dependents. While you may be hesitant to think of its eventuality, death can do considerable damage to this asset, and it is important that you prepare for this future loss of income by obtaining life insurance. There are many reasons why you need life insurance, such as:
- providing your family with the income lost after your death
- paying off outstanding personal and business debts, or mortgages
- providing for your children’s education
- settling funeral expenses and other taxes
- preparing an emergency fund or creating a trust for an incapacitated beneficiary
The Purpose of Term or Temporary Insurance
Temporary insurance provides security to manage your future needs, whether long or short term. It offers flexibility to meet each of your expected needs as they arise. For example, if you start a new business or relocate to a new home you can directly impact your ability to earn money. With term life insurance you will be prepared.
- Financial security through Permanent Insurance
When a family loses its major income earner, they are likely to experience a considerable financial loss. Permanent insurance is a financial asset they can count on in the event of your death. There are various life insurance solutions available to protect your family.
- Comprehensive Universal Life
This powerful policy gives you the protection offered by insurance with the added value of investment savings. Universal Life affords you the flexibility to customize your policy depending on your needs, the option to change your investment mix and insurance coverage when necessary, and a bonus of accumulated savings from deferred taxes.
Your home may be your largest investment and also one of your family’s most essential. The benefit of using life insurance is that you are not restricted to the mortgage’s exact amount. And since you own the policy, the insurance plan can cover your possible future mortgage loans. This will allow your family the funds needed to pay off the loan and have enough left to cover any other expenses. Depending on the life insurance plan, you can choose other benefit options such as extra income during retirement. By having an independent plan it also protects you from increasing premiums and decreasing benefits like traditional bank & creditor insurances.
While some may feel their loved ones could sell the property to cover the financial burden left behind, this does not account for potential pitfalls that may arise such as:
- Depressed housing markets with an inability to sell the house in time to cover liabilities
- House prices fluctuate with markets, the liability may exceed the house value in bad markets
- Inability to maintain the upkeep of the house or in financial crisis’s such as job loss
- Critical Illness
If you become disabled your ability to earn income may be compromised, and your ability to pay bills or save for retirement may decline. Our disability insurance plans are designed to help you meet your income requirements so you can concentrate on recovering from your disability and returning to an active life.
Your earning potential is a far more valuable asset than your automobile or your home. Disability insurance is designed to protect you from the possible loss of income. The possibility of this happening is more likely than you would imagine.
Accidents and illnesses are facts of life. They could happen to anyone at any time.
Did you know?
- 1 in 3 people on average will be disabled for 90 days or longer at least once before age 65
- The average length of a disability that lasts over 90 days is 2.9 years.
Disability insurance is the only sure way to provide guaranteed coverage and guaranteed premiums. We provide disability coverage designed to address your needs and protect your ability to earn an income.
In the past, critical illnesses were considered fatal, whereas today survival and recovery is possible. What we are faced with is usually the amount of time and expense that it takes to get back to normal and loss of income during recovery time. The role of critical illness insurance is to protect you, and to act as your family’s safety net while you recover enough to become an active income earner once again.
Once you have critical illness insurance, you are covered based on the period of time specified in your policy. Each premium remains constant throughout your paying period and you can include a return of premium rider so that if you are never diagnosed with a critical illness, you will get all the premiums you paid returned to you tax free!
Critical illness insurance will help you financially through your recovery period, without having to exhaust your savings, take out a second mortgage on your home, or go into debt to cover hospital expenses, treatment, and other forms of therapy. With a critical illness insurance policy, you can avail of a specific package amount that will cover your medical expenses while you recover free from financial worries.
If you become diagnosed with any of the critical illnesses covered by your policy, you will receive a lump sum payment that you can use for the following:
- treatment overseas
- replace the income you have lost while undergoing treatment
- subscribe to alternative forms of medication
- pay off your debts or mortgage
- cope with your family’s day-to-day expenses
- remodel your house or move to a new place
With critical illness insurance, you will be spared from using all your savings or selling your assets to pay for your treatment and recovery period.
Health problems may come upon us unexpectedly. To prepare for these eventualities, it is necessary to have affordable health insurance that comes complete with other concurrent health services such as emergency medical travel, physical therapy, or dental treatments. Based on your various medical needs, you can choose from different types of Personal Health Insurance plans.
- What is required to get sufficient health coverage?
To apply for comprehensive health coverage, you and the beneficiaries you name must be under 69 years old on the date of application.
- How much will I need to pay?
Find out more about insurance options ideal for individuals and small businesses, get a personalized quote or apply online now.
If you suffer an illness or injury when miles away from your home, travel insurance products can cover a wide variety of scenarios.
Each year, thousands of Canadians travel outside their area of residences, and those who leave without travel insurance put themselves at a great risk not only to their health and well-being, but their finances as well and the enjoyment of their trip.
Available plans include:
- An Annual Multi-Trip Plan perfect for those who are on the go, travelling several times a year.
- A Single Trip Medical Plan for those who leave their home province once a year. This plan covers a single trip for a specific duration of time selected by you, the plan holder.
- For those with visiting relatives and friends from overseas, we have a plan that covers visitors to Canada, which insures your relatives from paying for expensive healthcare in the event of a medical emergency during their stay.
- We also have a Trip Cancellation Plan which covers extra fees that need to be paid in the event that you decide to cancel or change a planned trip due to circumstances beyond your control.