Life Insurance

Term Life Insurance

Whether you are looking to protect your family or your business, Term Life Insurance offers flexible and affordable protection that you can customize to meet your temporary needs.

Why choose term insurance?

What term life insurance can do for your family:
• Help you maintain your lifestyle without worry
• Provide you with income continuation
• Pay off existing debts, such as car loans, mortgage or other financial obligations
• Better option to Mortgage Insurance
• Pay funeral expenses

What term life insurance can do for your business:
• Business collateral and buy-sell funding
• Pay estate tax
• Provide key person protection
• Cover a commercial loan

Other benefits of a term life insurance policy:
• Stays active for an entire policy term, regardless of which lender you pick, your age or your health changes.

You know what’s best for you, we just help you get there. Contact us about finding the right term life insurance policy for you.

Permanent Life Insurance

Designed for estate protection or wealth accumulation with potential for dividends, Permanent Life Insurance will provide you with an insurance plan that does not expire. Whether you are paying for your child’s college education, or covering medical expenses, permanent life insurance will last you a lifetime. Typically, permanent life insurance combines a death benefit with a savings portion, allowing policies to build a cash value, against which the policy owner can borrow funds or, in some instances, withdraw cash to help meet needs such as paying for a child's college education or covering medical expenses.

Permanent life insurance policies will provide you with:
• Lifetime coverage: With permanent life insurance, you are covered for life, your coverage does not end after a certain term.
• Guaranteed premiums that remain unchanged: Premiums are guaranteed when you buy your coverage and remain unchanged for the life of your policy.
• A Tax-free benefit: Permanent life insurance provides a tax-free death benefit to your beneficiaries when you pass away.

There are two types of permanent life insurance; whole life and universal life. Whole life insurance offers lifetime protection, and its savings will grow at a guaranteed rate. Universal life insurance has both a savings element and death benefit but offers different premiums and earns based on market performance.

We will find you the right coverage. Contact us about finding the right permanent life insurance policy for you.

Mortgage Insurance

Mortgage Insurance is important for most homeowners and can be seen as a form of life insurance. Mortgage insurance will cover your mortgage debt in the event of bereavement or disability. Most people tend to buy mortgage insurance through their banks during the purchase of a home. What people don’t know, is that mortgage insurance plans offered through a bank are often more expensive than insurance policies that are designed to meet your specific needs. We can offer you something better. 

Mortgage protection insurance is, essentially, a type of life insurance. It covers your mortgage debt if you die or become disabled. Banks generally try to sell homeowners this type of insurance when they sign up for a new mortgage. Insurance premiums are then seamlessly added to their monthly mortgage payments. Bank mortgage life insurance is a type of No Medical insurance, often with very little support to ensure that the no medical questions are answered correctly. That assessment is only made if and when you die! If you have a medical condition and you answer one of the questions incorrectly, your claim may be denied!

In spite of what you might think, bank mortgage insurance often costs more than other insurance policies that are designed to meet your specific needs.

 Here’s what you should know:

Premiums: For creditor insurance, premiums are fixed each month and are based mainly on your age and health and can typically be higher than term life insurance, in most cases almost double
Payout: With creditor insurance, the amount of coverage and subsequent payout (if you die) decreases with your mortgage balance. With term life insurance, the benefit amount stays the same throughout the entire term of the insurance. But the amount of term life insurance stays the same throughout its term.
Beneficiary: With creditor insurance, the lender is the beneficiary. Regular life insurance, you choose the beneficiary.
Portability: All the big banks, including RBC, TD, Scotia, CIBC, BMO and National Bank, offer mortgage creditor life insurance. The problem is, it’s not portable to a new lender. If you change lenders or sell and buy a new home, you will have to apply for a new insurance policy. In most cases your premium will increase as you get older (premiums rise faster with age) and if you’ve had medical issues that will also affect your insurance premiums. Term life insurance stays active for the full term, regardless of which lender you pick, and regardless of your age or whether your health changes.

In other words, a bank mortgage insurance policy works great for the bank – but may not be the best plan for you.

Contact us for more information on our mortgage insurance plans and which one is right for you!

Critical Illness

In the event of unexpected life-threatening illnesses, Critical Illness Insurance has cash benefits that provide you with the time and options you may need when faced with a life-threatening medical condition. Like Life Insurance, Critical Illness Insurance can be an important element in your financial plan. By paying you cash benefits when you are diagnosed with a listed, life threatening illness, it gives you time and maybe a few more options in how you will respond.

Critical illness insurance policies provide you with lump-sum payments that can be used to cover many costs associated with illness, including medical care, travel expenses or income of a family member caregiver. 

The four most common life-threatening conditions covered are:
• Cancer
• Heart attack
• Stroke
• Coronary artery bypass

We will help you decide if critical illness insurance is right for you. Contact us today.

Disability Insurance

Disability Insurance protects you in the event of unemployment due to unexpected disability. Disability insurance will cover you by ensuring your monthly obligations are paid, leaving you with one less thing to worry

Disability insurance will make sure you are covered on the following:
• Your house or condo (loans or home equity lines of credit, including school and property taxes)
• Rent
• Vehicle loans or leases (cars, boats, motorcycles or other recreational vehicles)
• Credit card and lines of credit
• Leverage loans

Disability insurance is both flexible and affordable and provides you with an alternative to products offered by financial institutions.

Disability insurance is:
• Tailored to your needs
• Has a binding contract, regardless of change in financial institution or financing methods
• Covers multiple loans and financial institutions
• Provides full benefits, regardless of whether you receive group insurance or government benefits.
• Customizable pay options; directly to the creditor or directly into your account

Contact us to learn more about how disability insurance can impact your life.

Final Expense Insurance

Dealing with the loss of a family member is already hard enough. Final Expense Insurance will protect your loved ones from any unexpected expenses in the event of your bereavement.

Why Final Expense Insurance?

Final expense insurance will cover the costs of:
• Burial or cremation expenses
• Passive debts or mortgage debt owed
• Taxes owed

Get the comfort of knowing your family is protected. Contact us today about your final expense insurance.

Group Insurance

Are you a business owner looking to provide your staff with employee benefits? We can help find the right group insurance policy for you and your business. Group Insurance (also known as employee benefits) are great to attract, recruit and retain your employees.

Healthy and happy employees are essential for any thriving business, whether big or small. Some common group insurance policies include group plans, pooled plans for small businesses and health and wellness plans.

There are many benefits to choosing a group insurance policy. Some of them include:
• Dollars spent by an employer on a group insurance plan is tax-deductible
• Group insurance is less expensive than individual health insurance
• The issues that prevent people from obtaining individual plans are non-factors when enrolling for group insurance (Ex: family member additions, negative health history, pre-existing conditions)

Keep your employees around longer. Contact us today to see which group insurance plan is best for you.

Buy-Sell Agreement

In addition to finding you the best insurance options out there, we can also help you with your Buy-Sell Agreement. If you are a co-owner of a small business, a buy-sell agreement may be what you are looking for. A buy-sell agreement is a legally binding agreement that protects business owners in the event that a co-owner is faced with unexpected disability or bereavement, is forced to leave a business, or decides they no longer want to be a co-owner.

Disputes among business owners can be stressful, especially in the event of unexpected life changes. In the event of premature bereavement, the death benefits from the business’s life insurance policy will be used to purchase the deceased’s share of the business.

Not only will a buy-sell agreement protect both co-owners, it will ensure your business runs smoothly regardless of the unexpected circumstance you are faced with.

Don’t wait until it’s too late. Contact us today to find out about how you can protect yourself and your business with a buy-sell agreement.