Individual Insurance

Life Insurance:

Life insurance, in its simplest form, will provide for the immediate cash needs upon your death.  This death benefit is received tax-free, and will bypass probate.  With a wide variety of plan structures, such as Term, Universal Life, and Whole Life, life insurance will provide financial security for your family and/or business. There are extensive uses for these plans, including:

  • Estate planning
  • Mortgage insurance
  • Income replacement for a surviving spouse
  • Tax-sheltered wealth accumulation
  • Charitable giving

Disability Insurance:

Your most valuable asset is your ability work and earn an income. During your working career, there are often ongoing financial and family commitments.  If you become disabled, your ability to earn enough income to pay your bills and save for retirement may be compromised.  An individually owned disability insurance policy will replace your earned income that is lost when an illness or accident causes a prolonged disability. A wide range of different disability plans are available today, and can be custom-designed to meet a variety of protection needs.

Mortgage Insurance:

When you purchase a home, you will be offered mortgage insurance through your financial institution.  While mortgage insurance is an extremely important component of your risk protection program, the coverage offered by your financial institution may not be your best alternative.  An individually owned life insurance policy holds many advantages over bank mortgage insurance, including:

  • Your coverage amount will not decline as you pay off your mortgage.
  • You name the beneficiary and that individual has the flexibility to elect how they want to utilize the funds at claim time.
  • You can continue the coverage beyond the years that you hold the mortgage at that one institution.
  • Since you must medically qualify for the coverage, the premiums are often less expensive than those offered through a bank!

Critical Illness Insurance:

Critical illness insurance is becoming an essential component of any risk management program.  This type of coverage will pay you a tax-free, lump sum of money 30 days after the diagnosis of any covered condition, including a heart attack, cancer or stroke.  These funds can be used at your discretion, whether you wish to pay off your mortgage, take time away from work to spend with your family, or travel outside of the country for special medical treatment.

TriAccessâ Health Care:

When a serious illness or injury strikes, you want to make sure that you have access to the best medical treatment at the best facility right away.  This is where the triAccess™ health care plan can help!  triAccess™ will provide you with access to the best medical information for your condition and the funds necessary to obtain the best treatment at the top facility in the United States on demand.  The quicker you can receive treatment, the quicker you will recover and return to your normal every day activities.

triAccess™ is partnered with the Best Doctors Program, and will enable you to confirm your diagnosis and recommended treatment with a team at the Harvard Medical School.  They will provide you with a list of the best doctors and facilities for your specific condition, and if you can not obtain immediate treatment in Canada, they will make arrangements for your procedure to take place in the United States.   triAccess™ provides up to $3,000,000 USD to pay for diagnostics; surgery and treatment; and transportation and accommodations for both you and a travel companion.

Tax Sheltered Wealth Accumulation:

Most people are aware that life insurance plans offer a death benefit payout in the event that the life insured passes away.  However, a little known but extremely valuable feature available with Whole Life and Universal Life permanent plans is that they provide you with the opportunity to create significant tax-sheltered wealth accumulation. 

In essence, you would submit additional funding to the policy than what is required to satisfy the actual cost of insurance, and the money invested inside the plan accumulates tax-free.  If you wish to access the cash inside the policy at some point in the future (i.e., to provide retirement income), you have the option of either withdrawing it or using a collateral bank loan.  A Whole Life or Universal Life policy is a versatile tool that allows you to build tax-sheltered accumulation, enhance retirement income, and give permanent insurance coverage