Experienced Insurance Planning In Canada

THE INSURANCE ADVISOR CALGARY CAN TRUST

Providing Peace Of Mind On All Insurance Needs

Insurance is the most effective way to provide your family and business with financial protection while also giving you peace of mind. These are three of the most common types of insurance you need:

Disability Insurance

Your greatest asset is you and your ability to earn a living. If you’re disabled and can’t work, disability insurance can mean the difference between having enough to pay your bills and financial ruin. Disability insurance is vital for business owners, but anyone responsible for supporting themselves or their family should strongly consider it.

Unfortunately, nearly 50% of all individuals 35 or younger will be disabled for 90 days or longer before age 65.

Approximately 30% of people aged 35 – 65 will suffer a disability for at least 90 days, and about 1 in 7 can expect to become disabled for five years or more.

Regarding protecting your financial future, disability insurance is a must. Consider the odds…During your working years, you will likely face a disability than die. 

Protect your family and business today. 

We can explain the different features of disability insurance policies and the type of coverage that makes sense for you.

Critical Illness Insurance

With critical illness insurance, you’ll get a tax-free lump sum of money if you have a heart attack, stroke or cancer. This can be especially important if you’re self-employed and don’t have employer benefits to help tide you over if you can’t work while recovering or receiving treatment.

You can use the lump sum any way you see fit, such as paying off bills so you can take time off to focus on your recovery. You may also want to use the lump sum to pay for treatment that the public health system doesn’t cover.

Many critical illness insurance policies come with a return of premium policy that returns your premiums if you make no claims. We can explain this feature to you, as well as what amount of coverage we recommend.

Life Insurance

Life insurance is a must if you have anyone financially dependent on you. Life insurance is generally inexpensive to obtain and provides your family with a tax-free lump sum payment in the event of your death. There are two main types of life insurance – term and permanent life insurance.

With term life insurance, you’re covered for a set period – five, ten, twenty or thirty years. Premiums are lower than they are for permanent life insurance and will rise as you age or if your health deteriorates. Term life insurance is an excellent choice to cover temporary needs such as a mortgage or debt or when your children depend financially on you. 

Permanent insurance provides you with lifetime coverage. The premiums will be more expensive than term insurance at the beginning but cost less overall than if you had term insurance for your whole life. In addition, permanent life insurance can be used to cover final expenses and final taxes. 

There are also permanent life insurance policies that act as an investment vehicle allowing you to contribute additional funds to the policy, where it grows tax-free. Those funds can be used to supplement your retirement.

We can help you determine what type of life insurance is best for you and how much coverage you need.

Reach out to us today to get all the insurance coverage you need!

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