Life Insurance

Life Insurance provides protection against financial loss resulting from death. This benefit provides your family with long term security in the event of your death.

Life Insurance provides funds for final expenses including the cost of a funeral, taxes that have to be paid to the government and any debts that must be repaid (credit cards, loans). Life Insurance provides financial support to a surviving spouse and children to meet the needs of daily living, mortgage or rent payments, day care expenses and post secondary education.

There are two types of Life Insurance policies, term and permanent insurance. A term policy will protect you for a specified period of time called a term. A flat amount is paid to the beneficiary upon death. Term insurance has the lowest cost and is often used to cover a financial obligation such as a mortgage or other loan. Permanent insurance policies insure for life and are not renewed nor do they expire. Permanent insurance provides you with a death benefit with a savings component.