Facts by numbers
What do the stats show?
So…what’s the solution? Life Insurance!
Introduction to Life Insurance
When you plan for the future, one of the things you count on is continued income for yourself and your family. Without this income your family’s lifestyle and standard of living may be at risk. Should you die prematurely, a new source of regular income will have to be found. Thus, most Canadians use life insurance to address this problem, as it can create an instant estate in order to support your family in the event of premature death.
How does it work?
Life insurance proceeds can be used to replace lost potential income during working years. This can provide a safety net for your beneficiaries and can also help ensure the family’s financial goals will still be met—goals like paying off a mortgage, keeping a business running, and paying for college
The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by the insurance company in consideration for premium payments made by the insured person.
What type of Life insurance do I need?
Term? Whole Life? Universal Life? Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage.
Talk to one of our licensed professionals.
Why should I buy Life Insurance?
- A considerable bequest to your favourite charity
- A starter insurance plan for your child – YouthPlan Juvenile Insurance
- Key person Protection if your business loses an important employee
- Buy-sell Protection
- Mortgage Protection
- Additional income to supplement your retirement
- Protection for your personal business – Business Continuation Insurance