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Life Insurance

Life insurance is a crucial step in planning for your future and the future of your loved ones.

  • Life Term Insurance provides life insurance protection for a specified period of time. Term life is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

  • Whole Life Insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy.

  • Universal Life Insurance is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. The savings element, premiums and death benefit can be reviewed and altered as a policyholder’s circumstances change.

Health Insurance

  •  Prescription Drugs

  •  Dental

  •  Vision

  •  Chiropractic, massage, physiotherapy, etc.

Health Insurance is very important to get while healthy and young. By the time health insurance is at the top of your mind, it’s often too late and exclusions apply. When considering different insurance companies, make sure that there are no maximums on prescription drugs, this is the coverage you’ll wish you had if you need it.

You can also add additional coverage for:

  •  Semi-private Hospital rooms

  •  Assured Access (Saves your health while on an employer’s plan)

  •  Travel Insurance (Can be purchased separately)

Disability Insurance

Literally insuring your ability to bring income to your household. Disability is one of the most important insurance policies to protect your financial situation. If you can’t work, you can’t bring home a paycheck.

It’s the most important but also one of the most versatile types of insurance. There are many options that can benefit your financial situation. Unlike worker’s compensation (Worksafe NB Coverage), your very own Disability Insurance covers all injuries and disabling conditions at or away from work. Here are some issues or riders to consider:

  • Partial Disability

  • Own Occupation – take a job outside of your field and still get disability paycheques

  • Variety of elimination periods (the time from disability to disability payments!)

  • Coverage periods from 24 months to age 65

Critical Illness Insurance

Critical Illness insurance is one of the “newest” types of insurance. Having started in the 90’s by doctors who saw a need for an influx of cash when someone gets very sick, recovers, but is left with bills adding up from the illness. Sure, patients had Disability Insurance which helped to replace their income, but their spouses normally had to take time off which was NOT covered by insurance plans. Also, many patients required alterations to their homes such as wheel chair ramps.

Critical Illness for Children: Although the past few generations it has been normal for parents to purchase life insurance on their children, recently Critical Illness has become an important coverage to obtain. The closest Children’s Hospital is in Halifax, NS. This means that if your child becomes sick, they need to travel to Halifax bringing you with them. Again, this doesn’t trigger a disability claim for you and therefore you may require time off work. Plus accruing additional expenses such as meals, gas, hotels, and possibly flights. These items are NOT covered under Medicare.

Here are a few considerations with Critical Illness:

  • Return of Premium available

  • Critical Condition (adds coverage for additional illnesses)

  • Children can qualify

  • Permanent or Term Coverage