Participating life insurance, also called whole life insurance, provides lifelong insurance coverage with an opportunity for a tax-advantaged cash value component (a guaranteed amount of money that grows inside the policy) and death benefit growth.
These policies give you the opportunity to earn policy owner dividends which can be used to purchase additional insurance coverage or reduce your annual premium payments. Dividends when credited to the policy have a cash value. You can withdraw cash from these policies or borrow against the policy’s cash value.
Term life insurance is a simple and affordable way to help you meet short-term protection needs over a defined period of time. It is ideal for those seeking basic coverage when insurance needs/financial risks are highest but available funds are limited – for example, a couple with young children and/or mortgage.
Permanent life insurance provides insurance coverage for life. It also offers cash values that can grow over time to either increase the value of your death benefit or help pay for future goals like an education fund, starting a new business or supplementing your retirement income.
Universal life insurance combines the benefits of a lifetime insurance policy with a tax-advantaged investment component that you select and manage based on your risk profile and objectives. It also offers the added convenience and flexibility of adjustable premium and payment schedules.
Focus on your recovery knowing that you have the money to help with your expenses if you're diagnosed with a serious illness.
Critical illness insurance can give you a tax-free payment if you're diagnosed with a serious condition. Your contract will define which conditions you're covered for, but some examples include cancer, heart attack or stroke.
Protect your paycheque
Disability insurance works when you can't. It can give you tax-free monthly income to help pay expenses if an illness or accident stops you from working.
It can give you a tax-free monthly payment to help replace your income and cover your expenses if an illness or injury keeps you from working.
While a disability can often be visible to the naked eye, not all disabilities are so easily recognized.
As Canadians, we’re fortunate to have public healthcare coverage – but that doesn’t mean your provincial healthcare plan provides you with all the healthcare coverage you need.
You may be left to pay for expenses such as:
Our group benefit plans can help protect you against these and other unexpected healthcare expenses. From basic coverage to the maximum protection available, our plan selections, optional benefits and valuable services can make it easy for you to prepare for your healthcare needs.
Contact me today to learn more