Insurance Coverage
Determine the best coverage for your needs
Term Insurance
Term life insurance provides coverage at a fixed premium for a limited period of time, or term. Some of the most common terms are 10 year, 20 years and 30 year. When the term expires, the insured must either forgo coverage or potentially obtain further coverage with different payments based on their current age. If the insured dies during the term, the death benefit will be paid to the beneficiary as a tax free benefit. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time. It is most commonly used as mortgage insurance and to cover the requirements of growing families.
Permanent Life Insurance
Permanent life insurance provides for coverage for the lifetime of the insured. The most common forms of permanent insurance are whole life and universal life. Each policy offers the potential for both life insurance and a cash surrender component. These types of policies provide coverage for an insured lifetime with the potential for flexible premiums, cash payout and tax sheltering. Because a permanent life insurance program is designed to be permanent, the cost of insurance is considerably higher than term insurance. These types of policies are more commonly used for estate planning and charitable gifting strategies.
Health Insurance
Health insurance is designed to assist in protecting against the risk of incurring medical and/or health care expenses. Although many Canadians have group insurance coverage through their employers, it may not be sufficient to meet their needs. The various forms of health insurance available include critical illness insurance, disability insurance, long-term care insurance, health insurance and travel insurance.
Critical Illness
Critical illness insurance offers help paying costs associated with life-altering illnesses. If you become sick with an illness covered (ie. heart attack, stroke, cancer) by your policy and survive the waiting period, you receive a lump sum cash payment - you decide how to spend the money.
Disability Insurance
Disability insurance is designed to protect you from the possible loss of income. If the insured is not able to work, the benefit will provide income until such time as a return to work is possible.
Long-Term Care Insurance
Long-Term Care Insurance helps to alleviate the costs associated with nursing home care. Most policies offer or include in-home coverage which would help defray the costs of a health care professional coming into your home to help with your daily living activities.
Health Insurance
Personal health insurance provides coverage for unexpected health expenses and ongoing health-related services not covered by provincial plans. Plans can be built to meet the drug, dental, and supplementary health needs (such as vision care, chiropractic care, hospital stays, etc.) of each individual or family.
Travel Insurance
Whether travelling outside of your province or out of the country, or if you are a visitor to Canada, travel insurance offers personalized coverage to protect against the cost of unexpected emergencies that may occur. Options may include trip cancellation, baggage delay and other travel related expenses.
DISCLAIMER: Life and health insurance products are provided by Stephen Cock, Vickie Snow, and Cristian Gutierrez, independent Life and Health Insurance Advisors. Life and health insurance products and services are not available through Desjardins Financial Security Investments Inc. (DFS Investments) nor are the insurance plans or services available and/or offered supervised or reviewed by DFS Investments. DFS Investments is the mutual fund dealer through which mutual fund products and services are provided.