What would happen to your loved ones if something unexpected were to happen to you? Life insurance provides a safety net to make sure that your family isn’t left destitute in the event of a personal disaster.
As brokers, we offer you a complete range of life, disability and critical illness coverage with virtually every insurer operating in Canada. As an independent group, theres no need to recommend one company’s products, so the focus is on your best interest. This means not only selecting the best policy for you from the myriad of available options, but also supporting you in the handling and settlement of your claim, should you need to make one.
Three Types of Life Insurance
Life insurance is designed to provide a lump sum benefit to a beneficiary if the insured should pass away due to either accidental or health reasons. There are a wide variety of products that can be broken down into the following categories:
Term Insurance
This product provides a death benefit for a fixed premium. At the end of each term, the coverage is normally renewable for another similar term up to a maximum age such as age 80. The periods available are as follows:
Term for One year
Term for Five years
Term for Ten years
Term for Twenty years
Lifetime Coverage
Under these policies, your coverage can be continued for your entire lifetime and it comes in several versions including the following:
Term to 100 – Lifetime premium
Term to 100 – Premiums for 20 years
Lifetime Coverage with Refund Features
Under these policies, the coverage is designed to continue for your lifetime, but if you cancel the coverage, there could be a refund. Once again, it comes in a number of versions:
Whole Life – Premiums for life
Whole Life – Premiums for a limited number of years
Term for Ten years
Universal Life – Variable premium including ability to make lump sum prepayments
