"Try not to become a man of success but rather to become a man of value."
- Albert Einstein (1879-1955)

Personal Life Insurance Products

Life insurance is a way of saving and providing a financial cushion upon death. The basic need to be fulfilled is the provision for the financial security of family, loved ones, and others who are dependent upon your income in the event of early demise.
With tax-leveraging, life insurance can also be a component of many financial plans, it can not only help reduce risk but can enhance savings and improve estate planning. Regardless of your objective, our intent is to provide you with sources for a variety of insurance products, and advice
on such matters.

Whatever you reason, we want you to be satisfied that you have received good advice before
you do it.

There are several differing types of life insurance, some of which have been available for many years, and others which are more recent innovations. They can generally be divided into two categories: term insurance and permanent insurance. These two categories can be further subdivided into four main types of life insurance currently available in the Canadian marketplace:
· Regular Term Insurance
· Term to Age 100
· Participating Whole Life
· Universal Life

Term Life Insurance

Term life insurance is the most basic life insurance product it has no savings component, and no cash value. By the name, it is purchased for a 'term.' Term Life covers you against death for a specific term. It pays benefits only if you die within the term and does not build up cash value, so it costs considerably less than Permanent Life.

Term life however comes in many different flavours, with differing terms and conditions, guarantees, etc. As with any financial services product, it is wise to do your research and seek advice so that you purchase a product which best meets your needs. We can help guide you though the jungle of term insurance to choose the product that is right for you.

Universal Life Insurance

Universal Life policies include insurance and savings in a single tax-advantaged plan.
With Universal Life you have the ability to change your coverage, deposits and investment choices in response to your changing needs, conditions, or circumstances. Deposits are applied to the policy as they are paid each month or year. The insurance company deducts the insurance cost from the deposits. The excess deposit is then applied to the saving account, which is made up of an investment mix which you may often select and manage.

Universal Life policies offer a selection of investment options within the policy. As a result, these policies can develop significant cash values which the owner of the policy may use through surrender, policy loans or leveraging. The excess deposits and cash value accumulates in the policy on a tax-deferred basis.