Insurance Solutions Built for Canadians
Life Insurance Programs
Term Life Insurance
Term life insurance is a simple and affordable solution that provides protection to your family for a given period. These are usually available in 10, 20 or 30 year terms. It is simple, affordable and you get to decide how you’d like the tax-free benefit get paid. Term life insurance can be great option for individuals, couples or business owners who have debt, mortgage, or other financial obligations, also who want to provide for their beneficiaries and cover final expenses after death, own a business and want to protect their company.
10 Year Term
Stay protected and with guaranteed premium rate for 10 years without increase.
The younger you are, the lower the rate.
Renew coverage every 10 years, term can be changed, renewable and convertible.
Insurance protection to cover specific debt like a short-term mortgage, debts, and final expenses.
Beneficiaries receive tax-free, lump sum benefit after death.
Audience: For young families looking for affordable insurance option, small business owners who need to cover overhead and start-up costs, individuals to cover the final years of their mortgage, single life or on a Joint-First-To-Die basis.
20 Year Term
Stay protected and with guaranteed premium rate for 20 years without increase, last premium increase occurs after age 65. May be a good option if you feel that after 20 years you will no longer need to protect your income because you will be retired and if you feel that your debts will be paid off by this time.
Renew coverage every 20 years, term can be changed, renewable and convertible
Audience: Longer-term coverage for needs, including family income replacement or paying a mortgage, Families with a new or existing mortgage, Small and medium business owners who need to cover overhead and start-up costs, Individuals focused on affordable coverage with future flexibility.
30 Year Term
Stay protected and with guaranteed premium rate for 30 years without increase, premium may increase yearly until up to age 85. Protection for life. If you have longer term debt or you are looking for income protection that lasts throughout retirement years.
Plan renews automatically at year 30 giving a permanent coverage with level premiums payable to age 100. Plan may have different features available between the 15th and 20th coverage anniversary, like stop paying premiums and reduce the amount of insurance coverage for the remainder of the plan after it terminates. Extend the coverage for life, reduce the amount of coverage insurance, access the cash value of the policy. Longer-term coverage for needs, including family income replacement or paying a mortgage.
Audience: Buying a home and having a child, Individuals or families looking to cover a mortgage, Young families looking for an affordable insurance option, Individuals focused on affordable coverage with future flexibility.
35 Year Term
Term to 100
Guaranteed premiums payable until age 100. Options of adding riders like term life, children’s term, critical illness and more. 30-day flexibility window to decide to keep or not the policy – you’re covered the whole time. Unlimited free access to the assistance services, telephone service that can refer you to local home care resources to help with your recovery, psychological assistance that help you get through tough times.
*PERMANENT INSURANCE*
Lifetime coverage. Amount paid is be tax free. In some cases, it has cash value, this means that there is an amount available to you if you cancel your policy or may borrow against this cash value without cancelling your insurance, with certain tax implications.
Ideal to repay your outstanding debts, pay the taxes on inherited assets (property which increases value over the years) and cover your funeral expenses. This type of insurance differs from term insurance in that it has additional guaranteed values such as a surrender value and paid-up insurance.
Universal Life Insurance
Universal life insurance is a very flexible financial tool that provides your loved ones with financial security adapted to your personal, family and work situation.
A universal life insurance policy has 2 components:
Life insurance: provides lifetime protection
Investment: includes a savings fund where you can grow your money tax-free, and you decide where to invest.
You can use the savings fund to cover your premiums in future years or to increase your insurance amount.
Have retirement and estate planning concepts built right in, multiple coverage, build cash value you can use later (withdrawals may be taxed). Premiums that increase annually or choose to pay insurance costs that don’t increase, guaranteed rate enhancement on managed accounts. Affordable protection: investment, riders, death benefit, flexible coverage, savings component.
Ideal to leave behind a large, tax-free inheritance, Invest money tax-free, if you’re debt-free and have maxed out your RRSP and TFSA contribution room, reduce the tax burden on your estate.
Build assets, protect mortgage, add to your retirement income, help protect your retirement savings in case of an occupational disability, or one caused by 26 critical illnesses, including the need for long-term care.
Whole Life & Whole Life Participating Insurance
Permanent life insurance protection, fixed level premium is payable for given number of years.
Pays out dividends, has increasing cash flow. Dividends are not guaranteed, it may vary upward or downward.
Audience that look to: Cover final expenses, replace your lost future income in case of death, offset the taxes which will become payable, on your RRSP, minimize the impact of taxes on other taxable assets in your estate, financial gift in your name to your favorite charity, funding kids future, emergency expenses, leaving a legacy.
Guaranteed premiums for 10, 20 years or to age 100, guaranteed cash value and growth. Performance Bonus to increase. Life-long coverage and tax-free payment.
Critical Illness Insurance Programs
Term Critical Illness Insurance
It’s something none of us want to think about, but if you’re diagnosed with a critical illness, you want to have enough money to cover your expenses. Renewable and convertible to a Living Benefit 75 or 100 policy. 16-25 covered illnesses. This payment will help cover any additional expenses, such as time off work, travel to receive treatments, home care or the cost of treatments not covered by public health insurance, helping you protect your finances when critically ill. Optional Return of Premium on Death benefit (ROPD). Can give you a tax-free payment. Recover your health without seeing your financial health decline, thanks to Critical Protection.
10 Year Term
Guaranteed renewable premiums and coverage renews every 10 or 20 years until the policy ends at the policy anniversary nearest the insured person's 65th birthday or 75
Convertible to a Living Benefit 75 or 100 policy
Optional Return of Premium on Death benefit (ROPD)
20 Year Term
20-year renewable term plans with guaranteed initial & renewable premiums that increase every 10 or 20 years to age 75
Level Critical Illness Insurance
Guaranteed level premiums for 10 policy years at which time the policy is paid up and coverage continues. Also may vary depending on the level premiums chosen, policy anniversary nearest the insured person's 100th birthday at which time the policy is paid up and coverage continues or up to client 75th birthday, at which time the policy ends.
Level to Age 75
Level to Age 75 - Paid Up at 65
Level to Age 75 - Paid Up in 10-20 Years
Level to Age 100
Level to Age 100 - Paid Up at 65
Level to Age 100 - Paid Up in 10-20 Years
Disability Insurance Programs
Injury Only Disability Insurance
Injury Only Disability Insurance is if you become disabled by an accident which will stop you from working. Whether you can go back or work or not, it covers your medical expenses.
Premiums may start as low as $10.50 per month for injury-only coverage
Injury & Sickness Disability Insurance
Disability insurance works when you can’t. To help pay expenses if an accident or an illness stops you from working, it’ll give you a monthly income tax-free.
Guaranteed rates for your coverage until age 65, protect your retirement savings. You must satisfy a waiting period before receiving your first monthly amount. For waiting periods of less than 90 days, you’re eligible to receive your amount as of the first day of hospitalization or day surgery. The benefit period during which you will receive the monthly amount:
2 years, 5 years, Up to age 65 or 70 depending on the coverage chosen.
Premiums for the sickness benefit may increase every five years or Get more protection over time with an automatic 3% increase every year to your policy amount. Pay no premiums while you’re collecting benefits.
