Term Life
Provides guaranteed rates and coverage, with prices renewing depending on the term selected, most commonly every 10 or 20 years . It lasts for a specific period of time, which can be a fixed number of years or until you reach a certain age.
Term life insurance is a contract between you (the individual being insured) and a life insurance company. The insurance company agrees to make a lump sum, tax-free payment to a beneficiary should you die during the entire term of the policy.
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Cost Effective
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It’s Renewable & Convertible
Whole Life
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.As long as premiums are paid, the insurance company pays out a tax-free death benefit to your beneficiary, when you pass away.
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No expiry date. You get lifelong coverageas long as premiums are paid
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Tax-free death benefit to your beneficiary, when you pass away.
Universal Life
Universal life insurance is the same as whole life insurance, except you have more choice of where your cash value is invested.Universal life insurance provides permanent protection, along with the option to invest in a tax sheltered environment by over-funding the policy.
It gives an opportunity to generate a larger return than what is guaranteed from a traditional whole life policy.
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Premium Flexibility
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Maintain coverage while also building wealth
Mortgage Protection
In the unfortunate event of your death, with your mortgage loan still outstanding, this insurance will pay off the remainder of your mortgage debt.
When compared head-to-head, term life insurance beats mortgage insurance for protecting your home and your loved ones.Instead, Canadians are better served by mortgage protection through term life insurance..
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Your lender is the beneficiary
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Mortgage insurance is not a waste of money in specific circumstances.
