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There are three types of Life Insurance, we have access to all life insurance companies so we can better serve our valued clients:

1) Term insurance, you buy a block for 10, 20 or up to 40 years that gives you a level premium during that time period, it is guaranteed renewable to age 85 at a much higher rate monthly, you can convert to permanent life (term100, universal or whole life) before age 71 with no medical, but price is at your current age. This option gives you the highest face amount / death benefit coverage for the least cost, but costs you more later on in life on renewal. Good for mortgage insurance, short term requirements in life or business, and as a rider to top up permanent life policies. Let's meet to discuss further.

2) Universal Life insurance is a permanent policy that has options for annually increasing or level cost of insurance, many investment options, tax advantages to have tax-sheltered growth and can create tax-free income, early paid up options are available, ability to have term riders within the main policy and other benefits we can review with you.

3) Whole Life Insurance, been around since 1847 and is the best permanent policy you can buy, similar to owning a home. you lock in the cost of insurance at purchase age, you can add riders and other benefits and you can prepay the plan in 20 years. There is two types, non-participating has guaranteed interest cash value returns, built into the contract so if the company does not earn a penny you will get these guaranteed returns every year. A Participating policy has the guaranteed cash values just mentioned plus the policy owner shares in the profits of the corporation in the form of an annual tax-free dividend. the growth in the policy purchases Paid-Up-Additions to increase death benefit of policy and dividends are added to the guaranteed cash values giving the policy owner a higher Total Cash Value to access within the policy for partial withdrawal, full surrender, loan from the policy, take the Dividend yearly as paid out, or to use the policy as collateral to secure a tax-free loan from any Canadian Charted Bank that can be used for retirement. There are many tax-effective strategies that can benefit the personal policy owner / business owner with wealth accumulation and withdrawals. 

Let"s set up an appointment to discuss what is beneficial for you, your family or business! If you are not sure what life insurance coverage you have, we can do a complete review with you, to assess what coverage you currently have and may need.

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