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  UNDERSTANDING YOUR INSURANCE OPTIONS

💡​Choosing the right insurance is key to securing your family’s financial future.
As a licensed insurance advisor, I provide expert guidance on a wide range of coverage options tailored to your needs. Whether you're seeking affordable term life insurance or exploring permanent coverage that can support retirement income strategies, here’s what you need to know to make informed decisions.

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Father & Son

TERM LIFE INSURANCE

​Term life insurance provides coverage for a fixed period—typically 10, 20, 30 or 40 years. If the insured passes away during this term, their beneficiaries receive a tax-free lump sum death benefit.

✅ Coverage Period:
Choose flexible terms. Some policies extend up to 40 years.

✅ Renewable Options:
Many term policies are renewable without a medical exam, though premiums may increase at renewal.

✅ Ideal For:
Young families, homeowners with mortgages, or anyone needing affordable temporary coverage.

✅ Death Benefit Can Cover:

  • Mortgage or rent payments

  • Daily living expenses

  • Debts and loans

  • Children’s education

  • Final expenses

Family at the Park

UNIVERSAL LIFE INSURANCE
 

Universal life insurance combines lifelong protection with the ability to grow tax-deferred savings inside your policy. You can adjust your coverage and premiums over time, making it one of the most flexible permanent life insurance options in Canada.

✅ Coverage Period:
Lifelong coverage—your beneficiaries receive a tax-free death benefit regardless of when you pass away, as long as premiums are maintained.

✅ Investment Component:
Part of your premium goes into a tax-sheltered investment account. Choose how your funds are invested to match your goals and risk profile.

✅ Ideal For:
High-income earners, business owners, or individuals with long-term estate and tax planning goals.

✅ Policy Can Support:

  • Estate planning and legacy gifting

  • Business succession planning

  • Tax-sheltered investment growth

  • Charitable donations

  • Supplementing retirement income

Couple in Raincoats

WHOLE LIFE INSURANCE
 

Whole life insurance offers guaranteed lifetime coverage, along with a built-in cash value that grows at a steady, predictable rate. It’s a stable and low-risk way to protect your loved ones and build long-term financial security.

✅ Coverage Period:
Permanent coverage—your beneficiaries receive a guaranteed, tax-free payout no matter when death occurs.

✅ Cash Value Growth:
The policy’s cash value grows guaranteed over time, often with dividends (if it’s a participating policy). You can borrow against this value or use it in retirement.

✅ Ideal For:
Families looking for guaranteed protection, legacy planning, or conservative long-term savings.

✅ Death Benefit Can Support:

  • Final expenses and funeral costs

  • Inheritance for family or heirs

  • Paying capital gains tax on assets

  • Donating to charities or religious institutions

  • Leaving a guaranteed legacy

Key Person Insurance protects your business financially if a vital employee, founder, or partner becomes disabled or passes away. This coverage helps your company survive and adapt during a sudden loss of leadership or expertise.

✅ Goal:
Provides immediate funds to help your business recover from the loss of a key individual—ensuring continuity, stability, and financial protection.

✅ Coverage Includes:

  • A tax-free benefit paid directly to your company

  • Funds to cover lost revenue or profits

  • Capital to recruit, train, or replace the key person

  • Support for restructuring or stabilizing business operations

✅ Ideal For:

✔️ Business owners and incorporated professionals
✔️ Founders, executives, or lead salespeople
✔️ Anyone whose absence would impact revenue, operations, or investor confidence

✅ Protects Against:

  • Operational disruptions due to sudden absence

  • Loss of client relationships tied to the individual

  • Delays in project delivery or performance

  • Costs to replace highly specialized talent

INSURANCE FOR

BUSINESS OWNERS
 

Confident Businesswoman
Hospital

CRITICAL ILLNESS INSURANCE
 

Critical Illness Insurance provides a tax-free lump sum payment if you’re diagnosed with a covered life-threatening illness such as cancer, heart attack, or stroke. It gives you the financial freedom to focus on recovery—not expenses.

✅ Coverage Overview:
A one-time tax-free payout is provided if you survive a specified period after diagnosis (usually 30 days), covering over 20+ critical conditions.

✅ Covered Conditions May Include:

  • Cancer

  • Heart Attack

  • Stroke

  • Multiple Sclerosis

  • Major Organ Transplant

  • Kidney Failure

  • Coronary Bypass Surgery
    (and more depending on the insurer)

✅ Ideal For:

✔️ Families who want financial protection during recovery
✔️ Self-employed individuals with no access to group health benefits
✔️ Business owners seeking personal or corporate protection
✔️ Anyone with a family history of serious illness

✅ Benefits Can Be Used For:

  • Replacing lost income during treatment

  • Covering medical or experimental treatment costs not paid by MSP

  • Paying off debts or mortgage

  • Traveling for specialized care or treatment

  • Supporting your family while you focus on recovery

Disability Insurance replaces a portion of your income if you’re unable to work due to injury or illness. It ensures you can continue to meet your financial obligations—even when your health prevents you from earning a paycheck.

✅ Coverage Overview:
Receive a monthly income benefit (usually tax-free) if you’re unable to work due to a covered disability, helping you maintain your lifestyle and financial commitments.

✅ Policy Options May Include:

  • Short-Term Disability (STD): Covers temporary conditions—typically up to 6 months

  • Long-Term Disability (LTD): Provides benefits for longer-term or permanent disabilities

  • Own-Occupation Coverage: Pays even if you can work in another job but not your specific profession

  • Business Overhead Expense (BOE): Covers business costs if a self-employed owner becomes disabled

✅ Ideal For:

✔️ Self-employed professionals with no employer benefits
✔️ Business owners who rely on their ability to work
✔️ High-income earners wanting to protect their lifestyle
✔️ Anyone with recurring monthly expenses like mortgage, childcare, or debt

✅ Benefits Can Help Cover:

  • Rent or mortgage payments

  • Daily living expenses (groceries, utilities, bills)

  • Medical treatments and therapy

  • Childcare or dependent care

  • Loan payments and credit card obligations

DISABILITY INSURANCE
 

Wheelchair on the Beach
Security Team Member

ACCIDENT INSURANCE
 

Accident Insurance provides a lump sum payout or reimbursement if you suffer an injury from a sudden, unexpected accident. It helps cover costs that aren’t always fully paid by government or group health plans.

✅ Coverage Overview:
Protects you financially if you experience accidental injuries such as fractures, burns, dislocations, or loss of limbs. Some plans include coverage for accidental death and dismemberment (AD&D).

✅ Common Covered Events:

  • Broken bones or fractures

  • Concussions or head injuries

  • Emergency room visits

  • Ambulance services

  • Accidental death or loss of sight, hearing, or limbs

✅ Ideal For:

✔️ Individuals with active lifestyles or physical jobs
✔️ Families with children involved in sports
✔️ Self-employed workers without extended health coverage
✔️ Seniors wanting extra protection beyond MSP or private insurance

✅ Benefits Can Help Pay For:

  • Medical expenses not covered by MSP or employer plans

  • Transportation and hospital stays

  • Time off work due to injury

  • Childcare or home care support

  • Rehabilitation and therapy

Long-Term Care Insurance provides monthly tax-free benefits if you become unable to care for yourself due to aging, illness, or cognitive decline. It helps cover the high cost of care at home or in a facility, preserving your savings and independence.

✅ Coverage Overview:
You receive a regular income-style benefit if you’re unable to perform two or more daily living activities—such as bathing, dressing, or eating—or if you develop a cognitive impairment like Alzheimer’s.

✅ Covered Services May Include:

  • In-home care and personal support workers

  • Nursing home or long-term care facility costs

  • Assisted living or retirement residence support

  • Physical therapy and rehabilitation

  • Medical equipment and mobility aids

✅ Ideal For:

✔️ Seniors preparing for future health needs
✔️ Individuals with a family history of degenerative illness
✔️ Adults planning for aging parents
✔️ Those wanting to avoid relying solely on family or government care

✅ Benefits Can Help With:

  • Staying in your home longer with professional care

  • Reducing financial strain on your spouse or children

  • Covering costs not included in provincial health care

  • Maintaining dignity and control over how and where you receive care

  • Protecting retirement savings and assets

LONG-TERM CARE INSURANCE 
 

Arms
Group Portrait

GROUP INSURANCE

BENEFIT PLANS
 

Group Insurance Benefit Plans help employers offer comprehensive health and financial protection to their employees. These plans support talent retention, workplace morale, and productivity, while offering tax-effective advantages for both the company and staff.

✅ Coverage Overview:
Employers can customize group plans to include a range of benefits such as health, dental, life, disability, and critical illness insurance for their team—often at a lower cost than individual plans.

✅ Plans May Include:

  • Extended health care (prescriptions, paramedical, vision)

  • Dental coverage (basic, major, orthodontics)

  • Group life insurance

  • Short- and long-term disability insurance

  • Critical illness and accidental death & dismemberment (AD&D)

  • Health Spending Accounts (HSAs) and Wellness Accounts

✅ Ideal For:

✔️ Small to mid-sized businesses
✔️ Corporations and professional practices
✔️ Non-profit organizations and partnerships
✔️ Employers looking to compete for top talent

✅ Benefits to Employers & Employees:

  • Attract and retain skilled employees

  • Enhance morale and job satisfaction

  • Reduce absenteeism and improve wellness

  • Group rates are generally lower than individual policies

  • Employer-paid premiums may be tax-deductible

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HEALTH AND DENTAL INSURANCE
 

Health & Dental Insurance helps cover medical expenses not included in BC’s provincial Medical Services Plan (MSP). Whether you’re self-employed, retired, or without group benefits, private coverage protects your health and your wallet.

✅ Coverage Overview:
Plans can be tailored to include a wide range of healthcare, dental, and wellness services, giving you access to care and preventing out-of-pocket surprises.

✅ Plans May Cover:

  • Prescription medications

  • Dental care (cleanings, fillings, major work, orthodontics)

  • Vision care (glasses, contact lenses, eye exams)

  • Massage, chiropractic, physiotherapy, acupuncture

  • Ambulance and hospital accommodations

  • Mental health and counselling services

  • Medical equipment and supplies

✅ Ideal For:

✔️ Self-employed individuals and contractors
✔️ Families without group benefits
✔️ Early retirees or semi-retired individuals
✔️ Students or newcomers to Canada

✅ Benefits Can Help With:

  • Reducing out-of-pocket healthcare expenses

  • Accessing private or faster treatment options

  • Covering costs for dependents and family

  • Maintaining dental and vision health

  • Managing wellness through holistic services

Dentist at Work 2
Traveler in Motion

Travel Insurance protects you financially when unexpected events disrupt your trip—whether you're traveling within Canada or internationally. It ensures peace of mind with emergency medical coverage, trip protection, and more.

✅ Coverage Overview:
Get reimbursed or covered for unexpected medical emergencies, trip interruptions, delays, and lost baggage—helping you travel worry-free.

✅ Types of Travel Insurance Coverage:

  • Emergency Medical Coverage:
    Covers emergency medical care, hospitalization, ambulance services, prescriptions, and medical evacuation while you're away from your home province or country.

  • Trip Cancellation & Interruption:
    Reimburses prepaid travel costs if your trip is cancelled or cut short due to illness, weather, or other eligible reasons.

  • Baggage Loss or Delay:
    Covers personal belongings if your luggage is delayed, damaged, or lost in transit.

  • Accidental Death & Dismemberment (AD&D):
    Provides a benefit in the event of accidental death or serious injury while traveling.

✅ Ideal For:

✔️ Canadians traveling outside their home province or abroad
✔️ Snowbirds, retirees, and frequent flyers
✔️ Students studying internationally
✔️ Visitors to Canada needing coverage during their stay

✅ Important Notes:

  • Policies may have limits or exclusions for pre-existing medical conditions

  • Travel coverage is often not included in provincial MSP once you leave BC

  • Flexible plans available for single trips, multi-trip annual plans, or long stays

TRAVEL INSURANCE​
 

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