Life insurance

What does life insurance do for you?

Life insurance can create financial security for you and your family. It can help you manage risk and unexpected costs. Having the right life insurance protection can make a big difference in your life and the lives of those close to you. A proper financial security plan that includes life insurance can mean the difference between leaving your estate financially secure and leaving behind debts and an inadequate income.

If you die prematurely, life insurance can:

  • Cover final expenses and pay off debts
  • Ensure your family maintains a comfortable standard of living
  • Leave a legacy to your favourite charity

While you're alive, some types of life insurance can:

  • Build a tax-advantages cash value you can draw on for personal and business opportunities
  • Supplement your retirement income
  • Provide for long-term care and home care

What types of life insurance can you buy?

There are primarily two kinds of life insurance coverage – Term and Permanent. They offer different features to meet different needs. In some situations, the versatility of Universal Life is desired.

How much protection you need, your cash flow, your preferences for flexibility and control, how long you need the coverage – all these factors help determine the type of life insurance you need.