Life Insurance

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To put it simply, life insurance provides a tax free death benefit to insured person’s beneficiaries. It is available in three main forms:

Term Life Insurance: provides guaranteed rates and coverage, with prices renewing depending on the term selected, most commonly every 10 or 20 years (known as Term 10 or Term 20). This is a cost effective coverage type, and is often used to protect mortgages. The plan you select should be renewable and convertible, so that in the future you have the option to change your coverage to a permanent Whole Life or Universal Life plan as your needs change.

Whole Life Insurance: provides permanent protection with guaranteed level premiums and death benefit. This type of coverage can gain cash values the longer the policy is in force. This coverage is excellent for
those who know they would like lifetime protection and are willing to spend more than for Term Insurance.

Universal Life Insurance: provides permanent protection, along with the option to invest in a tax sheltered environment by over-funding the policy. This coverage is well suited for those who are concerned about estate preservation and estate planning.

Mortgage Insurance

Just bought a home or renewed your mortgage? You’ve probably given a lot of thought about how to provide for your loved ones with the right insurance.
If you want to protect your family with life or critical illness insurance, make sure it’s with an individual policy and not through the bank. Here’s why:

1. The right to choose your own beneficiary; with bank insurance, the bank is the beneficiary.
2. Coverage is portable and you are the owner. If you move, your insurance moves with you, and there’s no need to reapply.
3. Lock in your rates with guaranteed pricing and coverage. With a bank plan, your coverage and rates may not be guaranteed.

We’re often able to save our clients money, usually between 10% and 30%, over their bank insurance with individual life, disability and critical illness coverage. Our recommendations are prepared based on a full market survey of top Canadian carrier rates and products. We shop the market on your behalf.

Individual Health and Dental Plans

Individual Health Plans are specially designed to fill the gaps left by provincial health plans.

They are an excellent solution for the self-employed who may be able to deduct this expense, and also for those who do not have access to an employee benefits program.

Coverage is available in modules that range from basic to enhanced, plus optional add-ons for eyewear, paramedical specialists (RMT, chiro, physio) and out-of-country travel medical insurance.

Some plans require completion of a medical questionnaire in order to qualify, and pre-existing expenses (such as an existing prescription) are often excluded from coverage.

Premiums are based on your age and how many people will be covered; insurers reserve the right to adjust premiums each year for their product.

If you are looking for coverage after losing your employer plan, make sure you apply within 60 days of leaving the old plan to take advantage of the special products that allow medical evidence free applications.