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Why Canadians Choose Us
Alan has been very helpful in the organization and administration of various insurances, RRSP and investment accounts with personalized attention to my goals and life events. I always appreciate his reliability, responsiveness and efficiency. I have and would recommend him to any family and friends looking for a personal financial advisor.
– Tracy C., Coquitlam –
Term Insurance
Purpose
Term Life Insurance is an affordable kind of life insurance that guarantees a rate for a fixed number of years. After the fixed term is over, you may continue on the policy but the rate will be significantly higher. Term Life policies generally expire at age 85 but most policies will allow for a conversion to permanent at age 65 or 70.
Term Life Insurance policies are most suited to needs that are for a finite number of years, for example, a mortgage.
Types of Term Insurance
- 10, 15, 20, 25, 30, 34, 40 year terms
- to age 65, 70, 75
Permanent Life Insurance:
Purpose
Permanent Life Insurance is a kind of life insurance that will never expire. The rates for Permanent Life Insurance are higher than rates for Term Life Insurance.
Permanent Life Insurance policies are most suited to needs that will never go away, such as funeral and burial expenses or estate taxes.
Types of Permanent Insurance
- Term 100 – A basic permanent life policy that does not offer any cash values.
- Whole Life – A permanent life policy that offers cash values where the investments are managed by the insurance company. It is available as increasing (with minimum guarantees) or level (entirely guaranteed).
- Universal Life – A permanent life policy that offers cash values where the investments are self-managed. It is a flexible type of policy that can be structured to maximize cash value or to maximize guaranteed coverage.
