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Life Insurance

Until a few years ago, Life Insurance was not a subject many of us preferred to talk about. It was associated with death and thus the sentiments involved, often prevented discussion. Today however scenario has changed. Life Insurance , as a concept, has earned a different meaning altogether. Yes it is about life and health, but it is also about money. Life Insurance has rapidly emerged as a versatile financial tool. Now when we look at Life Insurance quotes, we are talking about investment figures. So irrespective of how you take it, insurance is something, which at the end of the day, we’d all like to have.

Life Insurance Plan a gesture that you care for your family.

Most of us live in a belief of immortality; to us early deaths, families going through bad times are only stories that we hear from a friend or about our friends or distant relative or a neighbour. We sympathize with them but ignore the odds that something similar can happen to us which will leave one’s family in despair and financial difficulties.

The irony is that we buy Car Insurance without a second thought because it is mandatory. But we ignore Life Insurance, which is more important for our family. Life Insurance is needed for everyone who makes an economic impact to somebody else’s life. At any point in time one should have planned in such a manner that in one’s absence, the family will not need to compromise on their current lifestyle and yet-to-be fulfilled needs. In an ideal scenario, one should at least have a Life Insurance cover equal to one’s annual income multiplied by number of years to retirement. However this amount is just a starting point and must be put into the context of other liabilities, expenses, inflation and current ability to set money aside for it.

The decision to over-scrutinize or ignore the decision to purchase a Life Insurance puts the family in a great risk of financial hardship in absence of breadwinner.

Critical Illness Insurance

Critical Illness Insurance is designed to provide assistance to an insured who has been diagnosed with one of a predetermined number of critical illnesses and in some cases survived 30 days.
Critical Illness insurance protects you or your spouse against loss of income on diagnosis of a number of illnesses like cancer, heart attack, stroke, MS, Alzheimer’s, Parkinson’s, ALS, blindness, deafness, loss of speech, coma, severe burns, late onset diabetes, loss of independence to name a few.

With healthy lifestyle choices can be your best defence against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time. Consider the following:

  • One in three Canadians will develop a life-threatening cancer.
  • One in two heart attack victims are under 65 years old.
  • Each year, 50,000 Canadians suffer a stroke. Of all stroke victims, 75% will be left with a disability.

Expenses such as private nursing or modifications to your home or vehicle to improve your mobility won’t be covered under your provincial health insurance plan and may not be covered under typical employer-sponsored health plans. Then there are other challenges that critical illnesses bring – such as finding the best medical care, meeting day-to-day needs (like caring for your children), and managing the stress and anxiety.

Critical illness insurance provides a lump-sum benefit to help support you financially, if you are diagnosed with and survive a covered critical illness. You can use this benefit payment to supplement your health insurance plan and any group disability coverage you may have:

  • Reduce your financial burden: Pay off or reduce your mortgage, credit cards or other debts. Help keep your business running.
  • Maintain your independence: Modify your home or vehicle to improve your mobility. Hire domestic help during your recovery. Fund a leave of absence for yourself or your spouse.
  • Access cutting-edge medical services: In Canada, payments for some medications and treatment are not covered by provincial health plans.
  • Assist in your recovery any way you choose: Spend more time with your family or use the benefit in other ways that can help you focus on getting well.

What’s more, with Critical Illness Insurance, you may not have to go into debt or withdraw money from your retirement savings to remain financially stable and independent during your recovery.

The insured also often has the choice to pay an extra charge and receive a full refund of all premiums paid at a predetermined point if no claims have occurred.

Mortgage Insurance

Mortgage Insurance is insurance in which you can cover your mortgage in the major event of your death. Mortgage life insurance, also known as mortgage insurance or creditor insurance, is offered by most banks and lending institutions. It is a life insurance policy that pays the balance of your mortgage to the lending institution if a person listed on the mortgage passes away.

Purchasing your dream home is often the single largest purchase a person makes in their lifetime. But in times of unpredictable circumstances if you were to become critically ill, suffer an accident or die, the financial burden of paying for the mortgage falls on the family members. Would your family be able to keep making the mortgage payments? Would they have to sell your home?

You can protect your family home with Mortgage Life Insurance, a flexible, low-cost way to protect one of your largest outstanding financial obligations.

Differences between a Bank Mortgage insurance vs. individual mortgage life insurance

  • Bank mortgage insurance is very different from individual mortgage life insurance because with Bank mortgage insurance the coverage declines each year or declines as the mortgage declines
  • The bank is the beneficiary in Bank mortgage insurance while in an individual life insurance policy, the insured can choose their own beneficiary.
  • Bank Mortgage insurance the coverage is not transferable. This means that the insurance is tied to a specific mortgage. With an individual policy, the insured can keep their coverage if they move homes, switch banks, or eventually pay off their mortgage.
  • The Bank Mortgage insurance plan ends as soon as one spouse passes away. An individual policy can be set up as a joint policy, meaning a joint or multi-life policy, which allows the beneficiary to receive a double benefit in the event that both spouses pass away.
  • The Bank Mortgage insurance coverage is not convertible. A Bank Mortgage insurance policy is not convertible to a permanent policy, but an individual term life policy is convertible to a permanent plan without a medical. This allows the insured, who may have developed some health issues over the life of the policy, to convert to a permanent level rate plan without any health questions or without any medical tests.

When purchasing your new home, take the time to shop and compare lowest quotes for life insurance. Compare the cost versus benefits of a term life insurance policy to a mortgage insurance policy. Chances are you’ll find a term life insurance policy will offer better value, more coverage and flexibility than a mortgage insurance policy.

Super Visa Insurance

Super Visa which came into effect in December 2011 and is becoming super popular among landed immigrants and Canadian citizens is a golden opportunity for family reunion. This Super Visa as we are aware is a multiple entry visa which is valid for 10 year allowing parents and grandparents to visit and stay in Canada for up to two years in a stretch without the need to renew it every time.

The process for getting a Parents and Grandparents Super Visa is simple and straightforward. Applicants for the Super Visa must provide proof that the host child or grandchild meets a minimum income level, demonstrate that they have purchased comprehensive Canadian medical insurance and undergo the immigration medical examination.

I am committed to provide you lowest possible Super Visa Insurance quotes with best protection to your parents and grandparents. I strive hard to provide you the best suited plan according to your need. I offer best insurance rates to my clients by comparing all the benefits of different plans offered by different companies.

Travel Insurance

Travelling abroad entails lot of planning to make it a perfect vacation. However, to make sure that your vacation is a complete success, travel insurance is an absolute necessity. Your trip abroad should be without hassles and worries, and comprehensive travel insurance provides you with the same. Whether you lose your baggage or passport, or even need some medical support on your trip, overseas travel insurance will make sure you get what you need. Go on your vacation without any worries in the back of your mind; buy your travel insurance policy.

Protect the cost of your trip and ensure that you are covered for medical expenses while overseas. I offer a complete selection of travel insurance options; Health and Medical; Trip Cancellation; Baggage; and more. I have exclusive student and youth rates. If you are extending your travel, call us for an insurance extension. Don’t think to travel without insurance! Travel insurance enables you to explore and enjoy new destination with heartiness. With our wide range of travel insurance plans that encompasses both business and leisure travel, we always have a plan that will always best suit your travelling purpose and that too at a cost that is soft on your budget. So, be rest assured and enjoy your travelling without worries.

Visitor to Canada Emergency Medical Insurance

Are you planning on visiting Canada, or do you have any friends or family members visiting from another country? Enjoy the visit without disruptions or worries if health emergencies come up, you can relax by covering the expenses with travel medical insurance coverage that’s simple, affordable and easy to use so you don’t end up paying out of your pocket. Get emergency medical care and more with travel insurance for visitors to Canada to cover:

  • Physician services
  • Ambulance services
  • Hospitalization
  • Prescription drugs and more

Emergency medical care up to $150,000 if you’re under 70, and up to $100,000 if you’re age 70 or over.

Covers side trips from Canada. Your side trip must start and end in Canada and be less than 30 days or 49% of the total number of coverage days (whichever is less).

Disability and Income Replacement Insurance

Your entire lifestyle is protected by your income. The chance of becoming disabled due to injury or illness during your working years is very high.

Have you considered how you would maintain your lifestyle if this were to happen to you?

While no one likes to think about becoming ill or being injured you can’t afford to ignore the possibility.

Life is unpredictable and is full of shocks and surprises. Nobody knows what will happen the very next moment. Nothing is in our hands but we can be prepared for all the coming situations. This needs a proper planning, awareness and guidance. There are various policies that are there to help us during all bad times but they go unnoticeable. Out of all such policies, there is Income Replacement Insurance which will finish all the worries about generating income when you are incapable of earning. I will provide the best available options for Income Replacement Insurance which will aid you during hour of need. When incidentally you meet an accident that render you disabled for some time, the major area of concern after your disability will be the source of income. If you are the sole earner in your family, it will create uneasiness amongst you and your family. At this point of time, if you had Income Replacement Insurance your life would have been much easier. Income Replacement Insurance substitutes a share of your income if you become unable to earn through injury or illness. This will make your life much easier and will allow you to recover soon without any anxiety. I can provide you with different policies which give you different options of time and benefits.

Companies offer both Earned Income and Gross Revenue choices for obtaining the Benefit that client qualifies for, because of this it is recommended for the following:

  • Self-employed
  • Small business owners
  • Individuals hired on contract
  • Employees with or without group benefits

Drug and Dental Insurance

Now, you and your family can have access to the Health and Dental protection you need. The Health and Dental Plan is specially designed for those who are not covered by a group plan.

Health and Dental Plan

Flexible and affordable, the Health and Dental plan offers four levels of increasing, comprehensive coverage for:

  • Prescription Drugs
  • Dental Services
  • Vision care and Hospital benefits

Our Drug and Dental plan also includes benefits like:

  • Vision Care
  • Extended Health Care
  • Home Care and much more

RRSP

An RRSP is a retirement plan that we register and that you or your spouse or common-law partner establish and contribute to. Deductible RRSP contributions can be used to reduce your tax.

Any income you earn in the RRSP is usually exempt from tax for the time the funds remain in the plan. However, you generally have to pay tax when you cash in, make withdrawals, or receive payments from the plan.

A registered retirement savings plan, or RRSP, is a savings plan for individuals which allows them to defer tax on money to be used for retirement. Contribution limits for registered retirement savings plans are based on income and are tax deductible at the time of deposit. Tax is paid when investment and interest or dividend income is withdrawn

There has been always a discussion about which one is superior, the TFSA vs RRSP. Who knows at 30 or 40 years old how much money they will have 25 or 35 years later, or what the tax system will be like many years from now?

Both are great tools for saving for us Canadians. Given that more people are thinking about the TFSA and the RRSP. In a perfect world, one could max out both the RRSP and the TFSA. That would be perfect. Though in the real world, life happens, and it is oftentimes very difficult to be able to borrow up the money to be able to max out both the RRSP and the TFSA. Generally, the amount you can contribute to your own RRSPs or your spouse’s RRSPs, or your common-law partner’s RRSPs for a given tax year without tax implications is determined by your RRSP deduction limit.

TFSA

Would you like to save money without worrying about taxes?

A Tax-Free Savings Account (TFSA) is an easy way to save and withdraw, without tax implications.1

5 great reasons to open a TFSA:

  • A TFSA is an easy way to save. A TFSA is designed for anyone aged 18 or older looking to save for a short-, medium- or long-term goal.
    • A TFSA gives you the option to place your savings in a Guaranteed Interest Account or a Segregated Fund, providing even more protection!
    • A TFSA allows you to grow your savings tax-free. Amounts deposited in a TFSA and the income generated (e.g. Investment income and capital gains) are tax sheltered, meaning no tax implications for your returns.
    • A TFSA allows you to withdraw your funds anytime. The money you withdraw during one calendar year increases your TFSA contribution limit for the following year to the same amount you withdrew.
    • A TFSA doesn’t affect your RRSP contribution limit. The amount you save in a TFSA during any given year has no impact on the maximum amount you can contribute to an RRSP, which is based on your income.
    • A TFSA lets you take advantage of unused contribution room from previous years. Caution: know your limit! If your annual contributions are over the limit, you will be taxed on the excess amount, which you will have to withdraw from your TFSA.

When TFSA contributions are maximized there will be tax implications if you over-contribute or withdraw and deposit in the same year and do not have contribution room.