Life Insurance

Some of our leading Insurers

Let's start with the basics: What is it?

Life insurance is a contractual agreement between an individual and an insurance company. The policyholder pays regular premiums, and in return, the insurance company provides a death benefit to the designated beneficiaries upon the insured person's death. This financial protection helps support dependents and cover various expenses, serving as a safeguard for the insured person's loved ones.

What are the options available to me?

Term Life Insurance

Term life insurance is a straightforward and affordable life insurance option that provides coverage for a specific period, such as 10, 20, or 30 years. If the insured person dies during the term, a tax-free death benefit is paid to the beneficiaries. Term life insurance does not accumulate cash value and is ideal for individuals seeking temporary financial protection at a lower cost.

Whole Life Insurance

Whole life insurance is a permanent life insurance policy that provides coverage for the entire lifetime of the insured person. It includes a cash value component that grows over time and can be accessed by the policyholder. Premiums are typically higher than term life insurance but remain level throughout the policy, offering both lifelong coverage and an investment element.

Universal Life Insurance

Universal life insurance is a flexible permanent life insurance policy with an investment component. It provides coverage for the lifetime of the insured and allows policyholders to adjust the premium and death benefit over time. The policy's cash value grows based on investment performance, and the policyholder may have the option to allocate funds among different investment options.

No Medical Life Insurance

No medical life insurance is a type of insurance that does not require a medical examination as part of the application process. It offers a simplified and quicker approval process, making it accessible for individuals who may have health issues or prefer to avoid medical tests. Premiums are often higher than traditional life insurance, reflecting the increased risk to the insurer due to the limited health information available.

The majority of Canadians have life insurance

Disability Insurance

Disability insurance provides financial protection by replacing a portion of an individual's income if they are unable to work due to a disability or illness. This type of insurance helps maintain financial stability by offering income support during the disability, covering essential expenses and preserving the individual's standard of living.

Income Dependency

You depend on regular income to pay your living expenses.

Waiting Period

Refers to the specified period of time that must elapse after the onset of a disability before payout starts.

Limited Savings

Assess your financial cushion. If you have limited savings, you may have an immediate need.

Benefit Period

Refers to the maximum length of time during which the insurance company will pay benefits.

Health & Dental Insurance

What is it and what does it cover?

Extended health and dental insurance refers to supplementary health insurance coverage that goes beyond what is typically provided by basic health insurance plans. These types of insurance policies are often offered by private insurers or may be part of employee benefits packages.