Book a Consultation

Take the first step towards securing your family's financial future by scheduling a personalized life insurance consultation with our experts.

Book Now

Unable to find form

Frequently Asked Questions

Common Questions Answered for your convenience.

Why would I need Life Insurance?

The main reason to consider life insurance is to ensure your loved ones are financially secure in case of a premature death. Other reasons include covering final expenses, debts, and outstanding taxes as well as protecting your business.

What type of policies are there?

There are 2 main types of insurance “TERM” and “PERMANENT”. Under these main categories there are many various types and variations such as “Whole Life” “Universal Life” “Quick Pay” “Cash Value” “Pay to 65” “Term To 100”

What is the difference between “TERM” and “PERMANENT” insurance policy?

The primary difference between “Term Insurance” and “Permanent Insurance” is the fact that term policies have no cash value and provide temporary protection which in most cases will expire before the age of 85. Permanent policies can accumulate cash value and will provide coverage for life. There are many different ways you can structure your policy, a “Whole Life” policy gives you limited investment options and dividends that are based on the performance of the insurance company. “Universal Life” offers a wide range of investment choices such as “GIC’S” “Bond Funds” and “Mutual Funds”. Both types provide for customised premium payment options.

How much does it cost?

Life insurance premiums are based on the applicants’ age and health status. The older you are, the higher the cost. Health is the biggest factor regarding the potential cost of a policy, if you are in exceptional health and have a good family history you may qualify for preferred rates. If you have ill health, your policy may be rated (cost more) or in extreme cases declined.

What is Critical Illness?

Critical Illness is a type of coverage that provides a one-time lump sum payment to the insured if they suffer a critical illness and survives it for 30 days after diagnosis(90 days for cancer). Most policies cover up to 25 illnesses with the majority of claims being for Cancer, Heart attack and Stroke. Like life insurance, you can buy “Term” or” Permanent” policies depending on your need.

What is disability coverage?

Disability coverage provides the insured with monthly income in the event that they are unable to perform the regular duties of their job. The coverage amount is based on your pre-disability income and will not exceed that amount. Benefits can be paid (depending on your policy) for a disability resulting from accident only or you can purchase a policy that covers both accident and illness claims. Most policies will only pay the benefit until age 65.