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Term Life Insurance

Permanent Life Insurance

Seniors Life Insurance

Critical Illness Insurance

Long Term Care Insurance

Disability Insurance

Mortgage Insurance

Small Group Benefits

Questions Answered

Life Insurance

Not everyone’s favourite topic – but since you can’t 100% guarantee that you won’t die too soon – and since you will die eventually, it’s a reality that your loved ones and perhaps your business partners may need an insurance company’s money to finish what you didn’t get to finish.  And you may also use it to pay taxes that will be due on your death, or provide an estate to pass on assets to your beneficiaries or to a charity.

There are two basic types of insurance – Term (temporary) and Permanent (life long). Most people will need some of each type, however, their budget may determine which kind they get initially.

Many people now include coverage in case they are diagnosed with a Critical Illness as part of a Comprehensive Life Insurance plan.  These plans, called Critical Illness Insurance, pay a lump sum to the insured, usually 30 days after being diagnosed with a coverage condition including cancer, heart attack and stroke.  The money can be used for whatever you choose – paying debts, treatment options and alternatives,  family member leave from work and generally is intended to relieve financial pressures related to being ill  to help you to concentrate on recovery.

Income Replacement Insurance

Your ability to earn an income is for most people their single largest asset by far. If you couldn’t work for 6 months – what income would you have?  What would that do to your lifestyle – finances – family? You can purchase a “warranty” of sorts on your income earning ability – a disability plan can make the difference in whether you can meet your regular obligations and protect your lifestyle and/or your family’s lifestyle.

Disability Plans can replace a percentage of your income (typically 60-70%).  There is usually a waiting period before you can claim benefits and there are certain definitions that you have to meet in order to qualify for a disability benefit. Many employers offer disability plans to employees in their benefits package – unfortunately, most people don’t pay much attention to the “fine print” or the plans unless they have a claim.  There is a tendency for many workers to now be “on contract” and perhaps not have coverage through an employer plan, or to be self employed and therefore have no coverage unless they seek it out.

Chances are you insure your car, your home, your possessions maybe even your golf clubs, but have you insured your biggest asset  -your ability to earn a living?