Personal Insurance

If you believe life insurance is essential but you’re looking for a solution that’s more affordable than permanent, lifelong insurance, you may be interested in term life insurance. This kind of life insurance protects you for a set period of time at the lowest initial cost.

That means term life insurance may be a prudent choice for young adults, people with young families or those looking to protect their small business. But it’s a worthwhile option for just about anyone interested in acquiring life insurance at a relatively low cost.

Term life insurance provides low-cost life insurance protection for you and your family. Because it’s more affordable than permanent life insurance, term life insurance allows you to purchase more coverage. Additionally, premium payments are locked in, meaning they won’t change during your selected term.

If you’re looking for lifelong insurance protection and the chance to build tax-advantaged cash value, participating life insurance may be right for you.

If your goals are to acquire protection for the rest of your life and the ability to build cash value to help support your financial goals, participating life insurance may be the solution you’re looking for. As opposed to term life insurance – which only protects you for a set period of time – participating life insurance lasts your entire lifetime (so long as you continue to pay your premiums).

If you already have term life insurance, you can convert to participating life insurance without undergoing further medical examination. Your financial representative can tell you more about how this process works.

Participating life insurance will provide coverage for life.

It’s simple: Keep paying the required premiums and you’ll always be insured. Money made available through participating life insurance can be paid to your named beneficiaries tax-free when you pass away, potentially making the process of settling your estate much easier for your loved ones.

Finally, the cash value of your participating life insurance policy can grow tax-advantaged over time (within legislative limits). *Overall, a participating life insurance policy can help protect you and your family while having access to cash values during your lifetime.

Permanent life insurance that comes with the flexibility to meet your unique needs.

If you want the ability to make changes to your life insurance, universal life insurance may be right for you. Those who feel that neither term life insurance nor participating life insurance are flexible enough to meet their needs may find what they need in universal life insurance.

Unlike term life insurance, universal life insurance is permanent life insurance, meaning it won’t end (so long as you keep paying your premiums). And unlike participating life insurance, it can be more flexible – for example, you can make changes to your premium payments (within legislative limits), allowing you to match your changing needs and financial situation.

Universal life insurance provides you with life insurance protection and the opportunity to build tax-advantaged cash value to support your unique financial goals. It’s life insurance that gives you the opportunity to customize your coverage to match your changing needs and situation.

In essence, this type of life insurance blends traditional life insurance with a tax-advantaged investment component, meaning it can help build wealth over time. If your investment component performs well, you can use the funds to help reach your financial goals, such as financing a child’s post-secondary education or starting a business.

We can help you prepare for the financial impact of a life-altering illness.

Thanks to advancements in medicine, people today are often expected to survive a life-altering critical illness. But how would you and your family handle the financial impact of such an illness?

By incorporating critical illness insurance into your financial security plan, you may be able to maintain your family’s lifestyle while you recover from a covered condition, including life-threatening cancer, heart attack and stroke. Having a plan in place means that, if you’re faced with a severe illness, you can focus on your recovery.

It’s simple: Critical illness insurance can provide you with a lump sum tax-free payment in the event that you develop a covered critical illness. This may be particularly important if you’re one of your household’s primary income earners and have dependents, such as children or elderly parents.

If you have critical illness insurance and become ill with a covered condition – and you meet the survival period requirement – you’ll receive a tax-free lump sum cash payment you can use however you want. Pay for in-home medical assistance, access private or out-of-country treatment, cover the cost of medications and medical devices, put money towards the mortgage or take time away with your family to recuperate – it’s up to you.

Insurance that can replace your income if you’re unable to work due to an illness or injury.

Disability insurance is designed to help protect you and your family if you’re unable to work due to illness or injury and can no longer earn a regular income. It’s insurance you may need more than you think – in fact, research shows that an average of 1 in 3 people will be disabled for 90 days or more at least once before reaching age 65.

At some point in your life, it’s possible you will be unable to work for a few weeks, months or even years. That could have an enormous impact on your financial situation and the lifestyles of those closest to you, including your spouse and children.

If you’re unable to work due to a disability, after the waiting period is over you’ll receive a monthly payment. You can use this money to cover your ongoing expenses such as housing costs, utilities, car payments and groceries. This can help ensure you keep your plans on track to achieve your financial objectives.

In addition, because disability insurance can provide you with an income if you’re unable to work, you may be able to avoid using your retirement savings, allowing you to protect the nest egg you’ve worked so hard to build.