What is life insurance?
Life insurance can protect the financial security of the people you love by giving them a tax-free payment after you die. The amount and type of coverage you choose will depend on your circumstances and needs. The cost of life insurance you buy as an individual depends on your age, gender, health, medical history and lifestyle.
Whether you want to protect your family, employees, assets, or all of the above, we can provide protection that fits.
We offer insurance plans to cover travelers worldwide. Your plan can include coverage for valuables, trip cancellations, medical expenses, emergency travel services, and more.
Private Client Group
We provide complete protection for successful individuals and families–and all that you hold dear. We provide tailored coverage, as well as world-class services to reduce risk and maximize your safety.
Short Term Health Insurance
In times of change, find short term solutions that help you bridge the gap.
Hospital & Doctor Fixed Indemnity Insurance
Plans pay set cash benefits for covered, common medical services for help with bills when you need it.
A federal health insurance program for people age 65 and older and/or are disabled. Enter your ZIP code to see Medicare plans in your area.
Health care coverage for those with lower incomes. Enter your ZIP code to see Medicaid plans available in your area.
Choose coverage and pricing that will make you smile.
See value with vision insurance.
Other Insurance Plans
Helps pay for health expenses not covered by your workplace or provincial healthcare plans
Provides a lump-sum payment to help manage the financial impact of a life-altering illness
Medical and trip cancellation coverage or emergency medical coverage for your visitors
Choose from a range of car, home, and tenant insurance options tailored to your needs
Helps cover the cost of care and support if you’re unable to care for yourself
Flexible, affordable insurance to help protect the people that matter to you most
Lifetime protection with the advantage of growing cash value over time
Companies big and small offer employees health, dental and other benefits
Types of life insurance:
Term life insurance
- Term life insurance is simple and affordable , providing a fixed amount of insurance for a specific period of time
- In the event of your death, the policy pays a tax-free benefit, to your beneficiaries
- Term life provides temporary protection you can customize to meet your changing needs
Permanent life insurance
- Permanent life insurance is often called whole life insurance because it covers you for your whole life – and some types can build cash value over time.
- Permanent insurance costs are usually guaranteed not to increase from the time you first buy the policy.
- Some permanent insurance plans let you pay for a limited time and and then you don’t have to pay any more.
Participating life insurance
- Participating life insurance is a type of permanent whole life insurance coverage that can be eligible to receive dividends.
- The amount of coverage you choose and your premiums are guaranteed for life.
- You can use the dividends to buy more coverage, reduce your annual premium cost or earn interest inside the plan. Or you can take them in cash. Dividends are not guaranteed.
Universal life insurance
- Universal life insurance is a flexible type of permanent life insurance that combines protection and savings.
- You choose a guaranteed death benefit that your beneficiaries will receive.
- The payments you make above the cost of insurance earn tax-preferred interest.
Do you need life insurance?
Will your loved ones be financially impacted if something happened to you?
If you answer yes, then you should think about how you can help protect them with life insurance.
While you may have basic life insurance through work, it may not be enough to meet your needs, and your coverage typically ends when you leave your job.
Most Canadians who suffer a serious health event, experience a financial impact as a result.1 Have you considered how changes in your health can impact your financial plans and choices available?
Don’t let financial worries complicate a difficult situation or limit your options. Get the coverage you need.
What is health insurance?
Health insurance is personal insurance coverage that protects your savings from the many healthcare costs not covered by government plans. There are 4 different types of health insurance products that provide the protection you need at each stage in life. An advisor can help you understand how these products fit into your financial plan.
Types of health insurance:
Personal health insurance
- Personal health insurance provides coverage for health expenses not covered by your provincial plan.
- You choose the plan with the health benefits that best suit your personal drug, dental and supplementary health and wellness needs.
Critical illness insurance
- Critical illness insurance helps pay the costs associated with surviving a life-altering illness.
- If you suffer a covered illness, once the waiting period expires, you’ll receive a cash payment that’s yours to spend any way you wish.
Long term care insurance
- Long term care insurance helps cover the cost when you require substantial assistance from others due to your diminished physical or mental abilities.
- It can help protect your retirement plans and make it easier to choose the care you want when you need it most.
- Disability Insurance helps protect your income if you become disabled and can’t work.
- A few different types of disability insurance coverage options are available.
1.- WHAT IS A LIFE INSURANCE?
We all know and know cases: life changes from one day to another, from one moment to another. Unfortunately. If your children, your partner, your parents or anyone who depends on you is not guaranteed economic independence, you should ensure your future. Because nobody is safe from an accident.
Life insurance allows you to protect the people in your cargo and helps you avoid it. Your insurance will take care of you that nothing is missing.
People who want to receive receive compensation for the insured capital, once or also in the form of income, so that their children have guaranteed their studies, for example, or for their family to face the mortgage, or for your couple can continue to pay for the letters of the car or the rental of their business …
Compare prices and coverages in the main insurers. Let yourself be advised by an insurance brokerage that analyzes your case, your needs and those of yours. Because life insurance is cheap and ensures the future of your loved ones is priceless.
2.- WHAT COVERS A LIFE INSURANCE?
Basically if you die or you are totally disabled, but can be extended to more coverages.
If you are going to make life insurance, you must have an insurance broker for your hobbies, because some insurances exclude the power of practicing risky sports. Or sea, if you’re passionate about bungee jumping, you should ask them to cover that too.
Your insurance company will not take care of your heirs. Decide to remove yourself from the middle to charge: let him know. And you will not want to know anything in the event that you die to travel to a country at war. Nor can we commit suicide during the first year of having life insurance (we recommend you never do it).
In terms of disability, generally, life insurance only covers the total, but you can choose a broader policy.
Read the conditions of your life insurance to know what is excluded. Life insurance is very cheap and, logically, has limitations. But yes, it must be taken into account.
3.- WHO SHOULD BE THE BENEFICIARY OF A LIFE INSURANCE?
When life insurance policies take over herself as a beneficiary. That is, you die and the insurance company pays the compensation to the bank instead of your family. With this the pending capital of the mortgage is liquidated.
Depending on which community you live in and what inheritance taxes you are required to pay, your bank may receive the mortgage amount.
But what could be better than securing your life for an amount greater than the money you should pay for yourself?
When you are paying a mortgage you never know exactly what you owe, the interest, the outstanding capital and a lot of concepts make you lie and never be clear. That’s why you should not stop smoking in the hands of your bank things that only they understand.
It is logical that the bank copper, but your family too. Paying the mortgage is usually not enough when a family member dies. It is necessary to expand the coverage.
4.- FOR HOW MUCH MONEY DO THE INSURANCE?
To buy life insurance to find the capital you want to insure; that is, how much do you want the insurance company to pay your heirs if something happens to you? Logically, the more necessary, the more you will pay for your insurance.
How is it progressed?
It includes capital that is at least five times its annual gross capital. That is, if you earn € 24,000 per year, it ensures a capital of € 120,000.
If you have a mortgage, the sum of the amount you pay for the account, so that your heirs can meet the bank’s fees.
If you have debts for personal credits or car bills …, add them to the insured capital.
Think, also, about the particular situation of yours. Are your children small or already earn a living? Does your partner have your own resources or do you need your financial contribution? Are there dependents? …
Add all this and calculate the capital that you must insure to protect the people you love.
IS LIFE INSURANCE MORE EXPENSIVE IN A BANK OR INSURANCE COMPANY?
In a bank. Without a doubt.
A comparative study of life insurance premiums, carried out by INESE, the data and information company of the insurance sector, and the consultancy Global Actuarial, has revealed that it is possible to save between 30% and 45% on average if Insurance is contracted to an insurance company instead of hiring it from your bank. In some cases, the report detects up to 42% less price in insurers compared to banks.
It is logical. Your bank is not an insurance company, and the interest is really low. It has to be financed in some way …, but you may not want it to be done at your expense.
If you choose to save money you, instead of saving your bank, it would be better to hire your life insurance in an insurance company.
An insurance broker can offer you the best prices for each company according to your needs.
DO I HAVE TO MAKE INSURANCE WITH MY BANK?
It’s not mandatory.
The law protects you if you do not want to contract life insurance with your bank and prefer to do it in any insurance company. The bank can set its conditions, like telling you that it will penalize you with a higher interest if you do not make insurance with them. It is in his right: who pays sends. But take an account, surely that way everything is cheaper for you to make your insurance in an insurance company.
With the interest rates on the floor and the returns that many banks face because of their bad practices, the best way for banks to take money is to sell you insurance. And, you may have noticed, banks are crazy about selling insurance.
There are abusive practices, such as charging you the bonus included in the money you borrow for the mortgage, or require you to be with them throughout the term of the loan. Stay tuned, because in the banks there are ethical people, but there are also people who are not, as everywhere.
What is clear is that, on average, your insurance with the bank will be 40% more expensive than in an insurance company. You will see if it suits you to accept it, to plant yourself or to change your entity.