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Life Insurance
Protect what matters most with the coverage you need.
Mortgage or Creditor Insurance
When major life events happen, such as job loss, serious illness or death, creditor insurance will ensure you and your family have options and control of your finances.
Critical Illness & Disability Insurance
When you can no longer work because of a life-changing illness or injury, critical life and disability insurance can provide income for you and your family.
Personal Life Insurance
Personal life insurance provides tax-free security, protects your investments and your family's lifestyle.
Key Person Corporate Insurance
Protect your business if you lost one of your key people. Reassure your creditors that the key person's death doesn't threaten your company.
Creditor Insurance
What's the Difference between Creditor Insurance (Mortgage Insurance) vs. Personal Life Insurance Coverage?
When purchasing a home, many individuals believe that the mortgage insurance offered through their bank or broker will guarantee and maintain the family's lifestyle in the event of their passing.
However, the institution is the recipient of the funds paid out. So this type of insurance only ensures that the mortgage will be paid and nothing else. Additionally, there is no guarantee that the mortgage protection plan will pay out.
Having personal life insurance allows your beneficiary to make independent decisions on how to use these precious funds. For example, the beneficiary can elect to pay out the mortgage, cover the funeral expenses, buy groceries, or fund the children's future education.
With personal insurance, you can:
- Own the policy, and you decide who to name as your beneficiaries
- Keep your coverage no matter where you live or with which mortgage lender you use
- Control the cost of insurance coverage and convert term coverage to permanent
- Leave your family in 100% control of managing the funds
- Know that everything will be taken care of and managed as you wanted
Feel confident and secure that your loved ones will have full access and control of the funds.
Critical Illness & Disability Insurance
What is Critical Illness Insurance?
Life happens, and an unexpected health diagnosis can derail you or your loved one from working or earning an income.
If you, your partner or your child are diagnosed with a severe life-changing illness, a critical life insurance policy will provide a tax-free, lump-sum payout.
With critical illness insurance, you can:
- Replace your income while you take time off work to recover or care for a sick family member
- Maintain your business operations and choose to pay your monthly mortgage and debts
- Pay for extra medical and wellness expenses not covered by the provincial health plan
- Pursue alternative care or seek out-of-country treatments
- Cover transportation and parking costs of treatment
- Fund accessibility home renovations
The primary purpose of a critical illness insurance policy is to reduce your financial stress so you or your loved one can focus on recovery and maintain your family's lifestyle without tapping into or completely draining your retirement savings.
What is Disability Insurance?
You never expect to be in an accident, land in the ICU, have an extensive home recovery or months of physio. That's why disability insurance protection should be the top priority for everyone and is an imperative strategy for all business owners, executives, and prime-income earners.
With disability insurance, you can:
- Replace your monthly cash flow (not taxable income) as you recover
- Provide partial or residual coverage as you gradually return to work
- Protect your ability to earn an income as a specialist and highly trained individual
- Avoid drawing funds from your retirement savings
- Feel secure you'll receive benefits while disability continues up to age 65
Disability insurance eliminates your financial risk of a physical injury, illness or mental health claim, and can provide you with cash flow to maintain your lifestyle.
Personal Life Insurance
Personal Life Insurance Advantages
Personal life insurance protection, whether term or whole, is a key component in everyone's strategic wealth-building plan to ensure the economic well-being of your family. You may already have a group plan, but know that your coverage ends when you change employers or retire.
With personal life insurance, you can:
- Harmonize with your current group plan should you choose
- Have an independent plan and coverage for a lifetime or windows of time
- Give your family tax-free security
- Help pay for funeral, legal and probate costs
- Cover joint mortgage, car loans and credit card debts
- Have the exact coverage to meet your family needs
Personal life insurance is affordable, and term coverage can be converted to permanent coverage.
Sleep better and have peace of mind knowing you won't be leaving a financial burden and have protected your family's lifestyle and future.
Key Person or Corporate Partner Life Insurance Advantages
Certain employees and shareholders are vital to the operations, sustainability and growth of your business. Imagine the financial impact and potential setback if that essential employee or partner passed.
This insurance protects your business, allows for the time and cost of replacing the key person, and reassures your creditors that the key person's death doesn't threaten your company.
With key person and corporate partner life insurance, you can:
- Get quick cash flow in the event of a key person's death
- Fund a shareholder's buyout agreement triggered by the shareholder's passing
- Allow financial solvency and time for succession transfer
- Along with Critical and Disability Insurance, your business will be covered for unexpected illnesses or injuries
With this financial cushion, feel secure that your business is sustainable and can continue to operate.
Let’s Talk
- Do you want to reduce your tax burden?
- Manage cash flow?
- Protect your paycheque?
- Secure your retirement?
- Help with succession planning?
Contact us today; we are here to help.
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