Life Insurance
Life insurance is one of the pillars of personal finance, deserving of consideration by every household.
It can help your loved ones deal with the financial impact of death of bread winner.
The benefit paid from a life insurance policy is a tax-free, lump-sum amount that can be used to:
Replace your income so your family can maintain their standard of living
Provide for your children or dependents
Pay for final expenses and debts
You may also choose to leave the money to your estate or to a trust
Do I need a life Insurance?
Answer is simple: If anyone relies on you financially, you need life insurance.
With so many products and companies in Canada, getting and understanding the life insurance policy can be confusing. We armed you with the proper information, so you can simplify the decision-making process and arrive at the right choice for you and your family.
Term Life Insurance:
Term Life Insurance products are most affordable and provide coverage for more commonly 10,20 or 30 years term. If policy is in effect, your beneficiaries will be paid the benefit. Once the term ends, the coverage ends.
Rates are guranteed for the term and most products are renewable and convertible to another term or permanent coverage.
Permanent Life Insurance
Pernament Life Insurance provides coverage for entire life and coverage never expires. Premiums are guaranteed and you have choice to pay in 20 years or whole life, in both cases coverage is for life as long as policy is in effect. Permanent life insurance policies build up a cash value, that means you will get a cash back if you cancel the policy.
Universal life policies have a investment component. The death benefit and cash value of your investment component may increase or decrease depending on the type of investment and return on those investments.
Mortgage Life Insurance
In typical mortage life insurance products, the coverage amount reduces every year as your mortage balance goes down. Our products are flexible and premiums are guaranteed and very affordable. You premiums and coverage stays the same even you sell your house. The greatest benefit of getting Mortgage life insurance from us that you choose the beneficiary and your beneficiary will get the full coverage amount, NOT your bank or mortgage lender. You are the Onwer of your policy and in control, not your bank or martgage lender.