Personal Insurance

Term Life insurance, also known as pure life insurance, provides a stated death benefit for a specific term. Once the term expires, the policyholder can renew the policy for another term, convert it to permanent coverage, or let it terminate. On the other hand, whole life insurance provides coverage for the policyholder’s entire life and includes a savings component. It pays out a death benefit upon the policyholder’s death and accumulates cash value over time that the policyholder may withdraw for personal use or borrow against. Unlike term life insurance, whole life insurance does not have an expiration date.

Universal Life insurance is a policy that combines permanent life insurance protection with a range of investment account options for tax-preferred savings growth. Policyholders can choose a guaranteed death benefit for their beneficiaries, and any payments made above the cost of insurance can grow in a tax-preferred savings account or be used to increase the death benefit.

Critical illness insurance provides financial protection to policyholders who are recovering from a life-altering illness. The costs associated with health recovery can put a financial strain on the individual and their loved ones. Critical illness insurance offers a tax-free lump sum payment to the policyholder to use as needed during recovery.

Disability Insurance protects your ability to earn an income and is the greatest asset that a person has. If your income ceases, what else ceases? If, like most Canadians, you rely on your income to live your life, protecting that income is critical.  Most employees are protected via their employer benefit plans but those that aren’t, need to consider personal disability Insurance    Disability insurance pays a monthly income to the policyholder when that person is not able to work because of an illness or accident. It may be included as part of an employee benefits package, however, it can also be purchased as a stand-alone product.    People often purchase disability insurance to augment their existing coverage.

Individual health and dental insurance, also known as personal or family health insurance, is meant to  cover expenses that are not covered by your provincial or territorial health insurance. It can help you pay for regular health care, dental care, and unexpected medical expenses. You never know when you might need to visit a doctor, undergo a medical procedure or deal with an unexpected illness or accident. Health insurance can help you manage the financial burden of such situations.