Insurance

TERM INSURANCE (OR MORTGAGE INSURANCE)

Protect your mortgage and cover financial obligations in the event of death, critical illness, or disability with term insurance. Unlike many mortgage insurance policies, term benefits aren’t married to the value of your mortgage but are guaranteed for the life of the policy. Should you pass away during the policy term, your beneficiaries will receive tax–free payments that they can use as they see fit, such as to pay off the mortgage, loans, or funeral expenses.

WHOLE LIFE INSURANCE

With whole life insurance, your premiums are locked in for your entire life, even if you get critically ill. This policy also builds cash and interest over time, which can be used to increase the death benefit or purchase additional coverage. You can also opt to receive tax-free insurance dividends or borrow against them if you need quick access to cash.

ANNUITY INSURANCE

Enjoy permanent protection with tax-advantaged investment growth within the policy that will pay you a guaranteed regular income, typically during your retirement. Flexible payment options allow you to choose income payments monthly, every three months, every six months, or once per year. You can even choose to receive payments now or defer them to a later date.

ACCIDENTAL DEATH

Accidental death insurance provides benefits in the event the insured is involved in an unforeseen, unexpected, and undesirable incident that results in their loss of life. Benefits are tax-free and paid in a lump sum to the beneficiaries. We can’t predict an accident, but we can be prepared with financial compensation that helps loved ones cope when tragedy strikes.

FUNERAL INSURANCE

Funeral insurance, also known as a burial or final expense insurance, can help your family through a difficult time by covering the costs of your funeral, cremation, burial, and other related expenses. Saying goodbye to a loved one is never easy, but funeral insurance can help ease the worry of financial burdens during the grieving process.

GUARANTEED LIFE INSURANCE

Regardless of your current health condition or medical history, if you’re between 50 and 75, you’ll be approved for Guaranteed Life Insurance with no questions asked or medical examination required. Your premiums will never increase, and the benefits will stay the same throughout the policy’s life.

UNIVERSAL LIFE INSURANCE

The highly flexible life insurance option gives you complete coverage and a wide range of benefits. You get permanent life insurance coverage and a broad selection of investment options that allow for tax-efficient savings growth. Interest from the savings can be used to pay premiums over time, and any amount above the premium can tip into a savings account or used to increase the death benefit.

PERMANENT LIFE INSURANCE

Just as its name suggests, permanent life insurance plans don’t expire. We can help you choose between available universal and whole life insurance plans, depending on your needs. Permanent life insurance also includes a savings opportunity, from which the policyholder can withdraw to use however they wish, such as paying off their mortgage, helping with a loved one’s college tuition, or investing in an RRSP.

HEALTH INSURANCE

Health insurance allows you to save on healthcare costs not covered by provincial healthcare plans or your employer. Eligible services covered under health insurance include dental, hearing aids, prescription drugs, nursing, home care, physiotherapy, massage therapy, and much more. Also, if you’re self-employed and without health benefits, this product has you covered!

CRITICAL ILLNESS

Suppose you develop an illness that requires long-term treatment and recovery. Critical illness insurance helps you cover basic household expenses, so you don’t have to withdraw from your RRSP or other savings. It’s also an excellent option for self-employed business owners to keep their businesses operating during convalescence. With critical illness insurance, you can focus solely on your recovery.

DISABILITY INSURANCE

If you become disabled and cannot earn an income, disability insurance can help by replacing a portion of your income over the short or long term. Disability can result from several causes, including personal injury, serious illness, or mental health issues. Benefits can cover household or other essential expenses as you see fit.

TRAVEL INSURANCE

Nothing ruins a trip more than having insufficient insurance coverage when you need it the most. Our plans include medical coverage for your entire family, including emergency coverage if you require an out-of-province hospital stay. Whether you travel worldwide or across the country, we have a travel insurance plan that’s right for you.

* Insurance products provided through IBB Financial Services Inc*.