Insurance

Life Insurance

Insurance providing for the payment of benefits upon the death, whether by accident or otherwise, of the life insured.

 

There are 4 basic types of life insurance:

 

  • Whole Life Insurance: Permanent life insuarnce payable on the death of the life insured, whenever that occurs. Premiums are typically fixed under the contract and payable either until the death of the life insured or for a specified number of years.  

  • Universal Life Insurance: Permanent life insurance where premiums (less expense charges) are credited to an investment account from which periodic charges for life insurance coverage are deducted and to which income is credited. Usually, the policyholder can vary the amount and timing of premium payments.

  • Term Life Insurance: Temporary Life Insuarnce payable on the death of the life insured, provided that death occurs within a specified period of time.

  • Term to 100 Life Insurance: A permanent life insurance policy, where normal cash value and paid-up benefits are reduced, restricted or eliminated when the policy is terminated prior to death.

 


 
Critical Illness Insurance
Accident Insurance

A living benefit product that provides a lump-sum cash payment on the first diagnosis of one of several contractually-specified critial illnesses or events.

 


 

Insurance designed to pay specific benefits in the event of Accidental Death, Dismemberment, Loss of Use or Fractures.

 

Cancer Insurance

Disability Insurance replaces salary or other earnings when the insured is unable to work due to accident and/or illness.


 

An insurance product that provides a lump sum payment in the event of a cancer diagnosis.

 

 

 


 
Disability Insurance
Mortgage Insurance

Insurance that provides a lump sum payment to pay off the mortgage balance in the event of death and/or a monthly payment to cover the mortgage in the event of disability. Insurance to cover the mortgage balance in the event of a critical illness is also available.


 
Credit Insurance

Insurance that provides a lump sum payment to pay off outstanding debts in the event of death and/or critical illness and to cover monthly debt payments in the event of disability.


 
Hospitalization Insurance

A product that provides the payment of a daily benefit when you are hospitalized dut to accident or illness.

 

 

 

DISCLAIMERS

 

Annuities and Insurance Products

Annuities and Insurance products are offered through Industrial Alliance, IA Excellence, Standard Life, Medavie Blue Cross, Manulife, Canada Life, Equitable Life, BMO Insurance and Assumption Life.

 

 

 

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