|
Whether you are the
main breadwinner of your family or not, you want to protect your family
against a sudden drop in income. The purchase of life insurance is one of the most important transactions
you can make. It is an integral part of any good financial plan. Consider how you
will: l Continue your income for your dependants l Provide for your children's education l Maximize the value of your estate l Protect yourself from the untimely death of
a business partner l Fund final charges to your estate including
capital gains taxes, probate, legal and executor fees l Build a tax-sheltered fund outside your
RRSPs l Maximize your retirement income l Donate to your favourite charity We are here to help you
decide which type of life insurance suits you best, according to your means
and your needs. Whole Life A permanent insurance policy which features a level premium throughout
the life of the policy, and an increasing cash surrender value (CSV). The
accumulated CSV can be collected whenever the insured chooses to surrender
his or her policy. Such a policy is useful where there is a need for lifetime
protection against financial needs such as final expenses and also where
money is required for retirement or for dependents. Term Insurance Temporary insurance which covers the insured for a predetermined amount
of time, i.e. five, ten, or twenty years. It is the least expensive form of
life insurance. To provide the same kind of protection as whole life
policies, many term policies offer the chance to renew, at the end of each
term, without further evidence of insurability. This type of policy is often
used to provide protection for temporary costs such as a child's education or
a business loan. Universal Life This type of policy blends term insurance and a savings account, based on
interest rates or equity investments. It offers greater flexibility in that
premiums can be increased or decreased, paid when due or at unscheduled
dates, or stopped entirely and started again at the owners will. When the premium is paid the cost of the insurance is deducted and the
balance is invested by the insurer. Upon death the face amount of the policy
plus the accumulated cash value is paid to the beneficiary. For more information, please
contact one of our
offices or send us an
e-mail. This
information is for illustration purposes only. Actual policy wordings and
conditions may differ. |
|
Life Insurance |
|
Head Office |
Branch Office |
|
INSURANCE
SOLUTIONS |