Insurance Services
Term Life Insurance
Term life insurance offers individual life insurance protection for a specified number of years (i.e., term). This type of insurance is usually less expensive than permanent insurance with the same face value. However, term insurance does not accumulate cash value.
Permanent Whole Life Insurance
Permanent life insurance, including whole life coverage, remains in effect until the policyholder’s death as long as the premium payments are made, unless the policy lapses or is surrendered. Most permanent life insurance policies also have some type of savings component that can build cash value over the life of the policy.
Participating (PAR) Whole Life Insurance
A participating (PAR) life insurance policy is a permanent type of whole life insurance that pays dividends to the policyholder, which can be used to reduce premiums, accumulate cash value, or purchase additional coverage.
Non-Participating (Non-PAR) Whole Life Insurance
Non-participating Life Insurance is permanent Life Insurance but it does not pay dividends to the policy holder.
DISABILITY INSURANCE
You might say your home, or your car is your most valuable asset. But, have you considered that it’s your ability to earn a living? Over your lifetime, that’s worth far more than your home or car.
Disability insurance works when you can’t. If an illness or injury keeps you from working, disability insurance can give you a tax-free monthly benefit to help you pay your expenses by replacing some of your earnings.
CRITICAL ILLNESS Insurance
Critical illness insurance (CI) is a type of insurance that pays you a tax-free lump sum benefit if you are diagnosed with one of the illnesses covered by the policy. For example, the CI policy may cover life-threatening cancer, heart attack, or stroke. It could be an important part of your insurance portfolio.
HEALTH BENEFITS Insurance
A health benefit plan typically refers to insurance that provides coverage for medical expenses such as health and dental. These plans can be offered by employers as part of a company's group benefit plans, where the premiums are shared between the employer and employees.
INDIVIDUAL PENSION PLANS (IPP)
An individual pension plan (IPP) is a type of retirement savings plan that is specifically designed for self-employed individuals or business owners who want to maximize their pension contributions. It is a registered plan under the Canadian tax system and is subject to specific rules and regulations.