Life Insurance
Term or Whole Life Insurance Policies tailored to your budget
key Highlights
Financial protection for
your Family
Preservation
of your
legacy
Tax-free
death
benefit
Insurance with an investment component
Fully customizable products
Access to major Canadian Insurance Companies
why Life Insurance is Important
Life Insurance can help your loved ones deal with the financial impact of your death. The death benefit paid from a life insurance policy is a tax-free, lump-sum amount that can be used to replace your income so your family can maintain their standard of living and live a debt-free life.
Term Life Insurance
This is the most simple and affordable life insurance product to cover your short-term or fixed-term needs. The “term” is the period of time during which the coverage is guaranteed to remain in place, as long as the policy’s premiums are paid.
Affordable and customizable
Coverage for 10, 20, or 30 years
Renewable and convertible
Guaranteed rates for the length of your policy
Whole Life Insurance
This is a permanent life insurance product to provide coverage for the entire lifetime. Whole life insurance typically offers several benefits that are not found on term life insurance such as cash values that accumulate over the life of the policy.
Lifetime Protection
Guaranteed premiums for life
Build Cash Surrender Value (CSV) over time
Ability to obtain a policy loan against CSV
No Medical Life Insurance
This is a very popular life insurance product amongst those who have or had medical conditions that disqualify them from fully underwritten life insurance. The process of getting life insurance policy with a medical condition is now quick and easy.
No medical examination
Affordable premiums and competitive rates
Quick and easy application process
Term and permanent life insurance options available
Other complementary benefits available
Life Insurance for Children
This is can be a term or permanent product for your children. Typically families opt for permanent policies with investment components since the premiums are significantly lower for younger individuals. You can design products, such as participating whole-life plans, that can be paid off in 10 or 20 years with increasing coverage amount over the lifetime of the child. Some plans can basically pay for themself over time, see the sample illustration below:
Age
Total
Premiums Paid
Accumulated
Cash Value
Life Insurance
Value
20
$52,950
$65,793
$516,859
35
$0
$174,284
$877,723
45
$0
$306,503
$1,124,086
65
$0
$880,201
$1,756,915
75
$0
$1,429,587
$2,199,672
Illustration based on $2,648 annual premium for twenty years starting when the child is less than 1. Cash and life insurance values are based on Equitable Life dividend scale from Oct 2020. This exhibit is for illustration purposes only and dividend scale is not guaranteed.
Affordable premiums guaranteed for life
Permanent insurance for lifetime
Build Cash Surrender Value (CSV) over time
Use Cash Value for Education, House Purchase, Business Loan, Retirement, and much more
Did you know?
Your employer-paid life insurance policy only covers you until you are employed with the same employer. Once you decide to change your job, your policy may cease to exist.