Life insurance is an agreement that assures payment of an amount to the person assured (or his nominee) on the happening of the insured event.

The agreement is valid for payment of the insured amount during:

Date of maturity
Specified dates at periodic intervals
Unfortunate death, if it occurs earlier.

Life insurance is universally acknowledged to be an institution, which eliminates ‘risk’, substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of a person who is the main source of income.

3 Types

Term life insurance :- Term life insurance is an affordable and straightforward type of life insurance that provides financial protection for a set period. The beneficiary gets a lump sum death benefit if the policyholder passes within that timeframe. Term life insurance is for those that want financial protection for a set period, like while raising a family or paying off debt. If someone depends on you financially, a term policy might be for you.
Term policies are often the cheapest life insurance in Canada.

Universal life insurance :- also known as adjustable life insurance is a type of permanent life insurance that offers the ability to adjust your premium payment amounts (within certain parameters). Universal life insurance is distinguished by the ability to adjust your premium payments. This is a valuable feature if your cash flow is variable. You can also adjust your death benefit amount. That means you can lower your death benefit if your need for life insurance decreases over time. Or you may be able to increase your death benefit amount, but you will likely have to go through further underwriting (questions about your health) to get an increase.

Whole life insurance :- Whole life insurance offers coverage for the rest of your life. Unlike Universal Life Insurance you must pay the promised premiums. You’ll pay a fixed amount monthly, quarterly, semi-annually or annually or you’ll pay the entire cost of the policy upfront or you’ll pay regular premiums for a set number of years, such as 10 or 20 years.

Whole life insurance companies offer three kinds of guarantees:
A guaranteed minimum rate of return on the cash value
The promise that your premium payments won’t go up.
A guaranteed death benefit amount

CRITICAL INSURANCE

Critical care insurance includes a variety of illnesses and conditions that can affect any person. Some incidents that are ideally enclosed in critical care insurance are heart attack, heart surgery, cancer, blindness, HIV/AIDS, Parkinson’s, paralysis, transplant, Alzheimer’s and severe burns. Each insurance company has different coverage options available to clients. This benefits/lump sum amount is paid irrespective of the other insurance policies the clients may have.

Benefits of Critical Illness Insurance: 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, pay for medications and treatment not covered by provincial health plans. Outside Canada, pay for treatment that may not be available at home, in addition to your family’s travel and lodging expenses.

Assist in your recovery in the way you choose: Spend more time with your family or use the benefit in other ways that can help you focus on getting well.

DISABILITY INSURANCE

Disability insurance is intended to replace a portion of your income if you become disabled and are unable to earn an income. A disability can result from several causes, including an injury, a serious illness or a mental health issue. And the duration of a disability can be either short or long-term.

There are different types of disability insurance coverage, including individual insurance plans and group insurance plans, as well as government plans such as workers’ compensation and benefits provided under the Canada Pension Plan.

DRUG AND DENTAL PLAN

Drug & Dental Plan benefits normally include dental care, eye care, prescription drugs, semi-private or private hospital expenditure, hospital bills, medical travel, catastrophic coverage, fracture assistance and accidental death & dismemberment.

Government Health Insurance plan does not include many health care expenditure in Canada such as eyewear, prescription drugs, dental services, and registered specialists and therapists. These expenditures are very difficult to manage if you do not have an employee group plan. If any serious illness occurs, then that can put an additional fee on your financial health.

Drug & Dental Plan insurance plan can help to cover these costs without putting any stress on you. Like any other insurance plans, Individual Health Care Insurance not only gives you peace of mind but also provides a safety net for potential financial losses. It also makes easier the burden of day to day medical and dental expenses.

TRAVEL INSURANCE

Visitors who aren't Canadian residents are not covered by our government health insurance plans. That means visitors could end up facing significant out-of-pocket medical expenses if an illness or accident occurs while they're in Canada. Visitor to Canada insurance is available for travellers, those who are visiting family, relatives or friends, landed immigrants or returning Canadians waiting for provincial health coverage, and for individuals in Canada on a work or student visa.

Contact us at least a week before you set off to Canada as insurance companies ask for a waiting period up to 30 days if you apply after landing in Canada.

Fill out a few simple questions below to get a free quote form one of our Travel Insurance experts.

SUPER VISA INSURANCE

To obtain a Parent or Grandparent Super Visa for Canada, applicants must have valid emergency medical insurance. Super Visa applications need to provide proof that they have private emergency medical insurance valid for a minimum of 1 year, from a Canadian insurance company and that it:

Covers emergency medical care, hospitalization and repatriation.

Provides a minimum coverage of $100,000.

Is valid for each entry to Canada and available for review by a port of entry officer. Super visa Insurance is a private Medical Insurance Coverage of min $100,000 to insure parents, grandparents coming to Canada under Super visa for hospitalization, hospital Care, repatriation by Canadian Insurance Company valid for 365 days from the date of entry to Canada.

You get to choose – start date for the plan and you can always change effective date before start of coverage.

100% refund– If no Visa Granted for any reason.

Partial Refunds – In case your parents decide to go back sooner than one year, prorated refund available, as long as certain criteria are met.