We offer many different types of insurance for our clients. Which you decide is best for you depends on your individual needs.
Temporary life insurance is used to provide coverage in times of high financial risk (i.e. when you have a mortgage, children's education to fund) in the event of the loss of an income earner. By the name, it is purchased for a term and initial premiums are generally lower than permanent coverage. Temporary life insurance has no savings component, and thus no cash value.
Permanent life insurance offers stable lifelong protection where the sum assured is due to be paid out at the end of the policy (i.e. helps with funeral expenses, taxes). Whole life coverage has a fixed premium and cash value. Universal life offers an investment component.
Disability Insurance - Income Replacement
Injuries can happen. A disability illness could dramatically change your life. Disability insurance provides a benefit in the event the insured becomes disabled and is no longer able to work. Many employers offer this type of insurance however, individuals who are not covered under an employer's plan should ensure they have this coverage.
Critical Illness Insurance
Critical illness can happen to anyone and this insurance pays a benefit to the individual in the event they are diagnosed with a serious illness like cancer, heart attack or stroke. CI insurance pays a lump sum, tax-free benefit after diagnosis so you can focus on recovery and regaining your health.
Long Term Care Insurance
Fewer people buy long-term care insurance, either not thinking about it or hoping that their savings will be sufficient to meet any associated expenses. The expenses associates with long term care (i.e. nursing homes, attendant home care) are very high and are a risk to your retirement savings. This type of insurance should be an integral part of your retirement plan. Once it is determined that the insured is no longer able to care for themselves, the plan pays out a weekly benefit.