You need to purchase insurance coverage because you do not want your family members to assume your financial liabilities nor have a drastic change of life style arising out of repayment of consumer debt, dependent care, college education for dependents, funeral costs, and mortgages etc.
Term Life Insurance
A purely risk protection plan which provide coverage for a specific time period. The named Beneficiary will be paid the fixed coverage amount upon the death of the insured.
After that period expires premiums is no longer guaranteed and the client must either forgo coverage or renew their coverage at a higher rate of payments.
Term life Insurance is not recommended to be used for estate planning needs or charitable giving strategies.
Whole Life Insurance
This is an investment vehicle which provides a protection for life without an increase in the premium payment. As long as the insured person continues paying the premiums, the insurance contract remains in force, regardless of age or health.
Whole Life Insurance policy provide a tax free investment environment to the insured. Whole life policies pay dividends. Dividends are then distributed to the policy for re-investment, distribution and/or additional life insurance coverage based on the direction of the Policy Owner. Upon the death of the insured person, the named beneficiary (ies) will receive the amount of coverage purchased plus a guaranteed return of investment amount as specified at times of purchase or an even higher amount according to the dividend distribution during the enforcement of the policy.
Universal Life Insurance
Universal Life (UL) insurance policy is similar to the Whole Life Policy with the exception that return of investment is not guaranteed. Policy Owner has the flexibility to choice the type of investment products, cost of insurance periods, and opportunities for tax-deferred growth in a variety of investment account options.
Premium is not fixed and this type of insurance policy is suitable for clients who has acquired substantial investment knowledge.
Long Term Care
Health and Dental
By purchasing disability insurance, you are buying a tax-free monthly benefit, which will be paid to you, if you become disabled. The size of your benefit will depend on your level of income when you buy the plan.
Critical Illness Insurance
Beneficiary received a lump sum payment 30 days after the insured is for calculated for a treatment outside the country or any other purpose you choose. A protection which can reduce your financial stress and concentrating on recovery when you are suffering from a major, possibly fatal, illness.
The terms and conditions will vary from company to company, but the following ailments are insurable by virtually all insurers (Base Coverage):
Coronary Bypass Surgery
Other life threatening cancer
Major Organ Transplant
Aorta Graft Surgery
Benign Brain Tumour
Heart Valve Surgery
Pre Senile Dementia (Alzheimer’s)
HIV Assault with Needle
Loss of Independent Existence
Loss of Speech
Blindness in both eyes
Coronary Artery Disease
HIV through Blood Transfusion
HIV Medical Profession
Loss of Hearing
Loss of Limb
Motor Neurone Disease etc
Health and Dental Plan
Whether you’re self-employed, between jobs or retired, there is a perfect health care package of benefits available for you and your family. With the ongoing changes to provincial health care plans, it is important to ensure you have affordable protection against unexpected medical expenses.