Life Insurance

Life Insurance pays a cash benefit to an insured person’s beneficiary after they pass.

Avoid any offer from a bank or lender – for the same investment (usually less) you receive more value with an individual life policy.

It is critical to use a licensed, professional broker when searching for a life insurance policy to protect your family or business.

There are a few basic types of life insurance coverage:

Mortgage Life Insurance
Guaranteed premiums and protection for a certain period of time – designed to match a decreasing mortgage amount. Individuals considering this type of coverage should always have an individual policy and avoid an offer of insurance from their lender. Having an individual policy offers more security… usually at a lower premium.

Term Life Insurance
Guaranteed premiums and life coverage the length of the term chosen – generally Term 10, Term 20 or Term 30. Term Life is commonly used to protect mortgages and young families. We only recommend coverage that is renewable and convertible to ensure you will have the flexibility of choice in future years should it ever make good sense to convert into a permanent life policy – either Universal Life or Whole Life coverage.

Universal Life Insurance
Very flexible permanent life insurance. The premium is the pure cost (lowest cost) of permanent insurance and has the flexibility of a tax sheltered investment account that can be used for your benefit or sit dormant. Universal Life premiums are more in early years but premiums never increase and the coverage will not expire at any age.

Whole Life Insurance
Considered by some an individual asset class. For those looking for cash values and guaranteed growth whole life insurance is an excellent option. Policies can be purchased and paid up in 10, 15, 20 years or invested in for life. Policy values can be used for inter-generational wealth transfer or to supplement one’s own retirement plans.

Key Person Life Insurance
Would your business suffer a loss of income or productivity if one of your key employees was lost? Insuring the life of a key person ensures your business has immediate cash to find a suitable replacement and supplement a loss in earnings due to the loss of your key employee.

Shareholder Life Insurance
The most cost effective way to fund the buyout requirements of shareholder agreement is to insure the lives of each shareholder. The company owns and is the beneficiary of the policy – and pays the premium. When a shareholder dies the company receives the benefit and has the liquid cash to buy out the estate of the deceased shareholder.

Guaranteed Issue Life Insurance
Some people are no longer insurable due to declining health – Guaranteed Issue plans offer coverage without requiring medical evidence of good health.

Special Risk Life Insurance
Sometimes due to extensive travel, extreme sports, unique exposures, high income or corporate contracts – key person and executives will fall into the special risk category. We are experienced in high limit, global coverage to suit corporate risks including.

Estate Planning
Estate planning is the process undertaken to ensure that loved ones are well cared for after the death of an individual, the transfer of assets to intended beneficiaries takes place according to the deceased`s wishes…

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