Services we offer
We offer a broad range of life insurance plans for coverage up to $5,000,000.
Call us at 1-877-495-2525 to apply.
Life Insurance can be of two types
TERM INSURANCE
Term Insurance is the least expensive form of life insurance. Term insurance provides protection during 10 or 40 year terms. In addition, these plans may be renewed for additional terms or converted to permanent life insurance plans. We have a term plan offering up to $5,000,000.
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PERMANENT INSURANCE
There are two types of Permanent Insurance Policies available in the market. Universal Life Insurance and Whole Life Insurance Policies…
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Universal Life Insurance Plan
Unlike Term insurance which provides pure protection, a Universal life insurance policy also includes a savings component. This savings component allows for tax-deferred investment growth that can be used in many ways such as supplementing retirement income or helping to cover the costs associated with a disability*. The amount of savings that can be accumulated within this type of plan depends on a number of factors including the age of the insured and the amount of insurance coverage purchased.
These products also include strong guarantees such as the cost of insurance rates and the policy fee. Universal life also offers a wide range of investment options, a choice of death benefit options, riders, optional benefits and many other features you and your advisor can use to customize your plan to your specific needs. Read More..
Whole Life Insurance
For you: Whole life insurance is a good option for all stages in life. You choose the payment period, you are insured for your entire life and it also provides surrender value.
For Your Family: Nothing can replace the loss of a loved one. But it’s comforting to know that your loved ones will have the necessary financial support to help them carry on, no matter what. Whole life insurance protects your loved ones’ financial security for their entire lives.
For your children: Insurance coverage is also a precious gift to give to your children. By subscribing to coverage at a low price because of their youth, you guarantee them coverage that they can adapt to their needs as they get older.
For your Business: Your business is your life’s investment, so you want to protect it. To guarantee its continuity, either by financing the purchase of a partner’s shares or giving your heirs the necessary time and assistance to find the right buyer, whole life insurance helps to avoid unpleasant surprises and helps keep your business prosperous.
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What every family should know about Life Insurance
It’s a very wise decision to protect your family with a life insurance plan. But that’s not where your job is done. There are some things that your family needs to know about your insurance and theirs.
Just like you will still need to unload a washing machine and fold your laundry after it’s done, you will need to pay heed to certain details and share it with your family once you have bought an insurance. These details, as we discuss in this blog, must be shared with your nominee, in particular, no matter who it is, and the family in general.
In order to understand why it needs to be done, here are some things you need to understand.
What’s the aim of Life Insurance?
While one may think that life insurance is for one’s own self. On the contrary, one buys life insurance for the benefit of your family, so as to secure them financially, when you’re gone; to leave them a decent legacy or at least the expenses that they will need to incur when you die.
Since the beneficiaries will be no the insured person but the family, it is the family that needs to know all the vital details about your life cover. This will help them know that they are the beneficiaries, so that they can make a claim, whom to approach for the claim, and so on. if they do not know all this, the whole.
The need for a detailed discussion
No matter who your nominees are, they need to know who your insurance provider is, who they need to consult for the claim and what to do to file the claim. in the absence of this knowledge, it becomes a pain for your family
You’d be astounded to know that there are millions of Canadian who have no idea about their rightful claim on money and physical assets that are available for recovery but are still under the custody of banks and financial companies because nobody came to claim them. These assets could also have been handed over to a provincial government as per unclaimed intangible property legislation. If we go by what experts say, the total value of these experts is staggeringly high.
The main reason for this is that a lot of people forget to keep track of their assets and insurance policies. And to make it worse, they don’t think it is important for them to let their family know about it.
Doing the right kind of talking
We understand that talking about death can be very uncomfortable for most family members. However, in order to keep all confusion and inconvenience at bay, they must have clarity on your life insurance.
Despite that, if you still feel uncomfortable or unconfident about doing the right kind of talk with your family, our insurance/financial advisor can help by being a mediator and facilitator between you and your family and offer them better contexts and insights.
Lesson learnt
There is no “buy it and forget it” concept when it comes to one’s life insurance. But the sad truth is that people do consider it so, thus defying the whole purpose of providing for your family after your death.
Have a clear, open, and honest conversation with your family regarding not only your life insurance but also your financial plans to make sure that the beneficiaries do receive the benefit.
Need a life insurance and make sure that your family gets the due benefit? Talk to one of our expert advisors today.
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