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Things you need to know

Life Insurance

What does the average life insurance policy cost per month?

The cost of life insurance differs depending on various factors such as age, gender, health, medical history, policy length, and the coverage amount.

For a man/woman, ages 35, with a coverage of $450,000 amount, a life insurance policy would cost approximately $35 a month.

Use our 'free get quote' tool to compare quotes from 10 leading insurers in Canada to find the right policy that suits you or, schedule a call with our expert insurance advisors to help you with the right plan.

Buying Life insurance will ensure that your loved ones will have financial security and maintain the standard of living if something happens to you. It can also help pay off debts, provide funds for your child's education or cover final expenses such as funeral costs.

An individual himself or through an insurance advisor can buy a life insurance policy.

Buying life insurance when you are in your 20s or 30rs is ideal, as you will be quoted the best rates. That's because an insurer abides lesser risk when insuring a young, healthy person. However, affordable premium-quality coverages are available to various age ranges.

Will your loved ones be financially affected if something happened to you? If yes, then you should consider buying a life insurance policy.

It will ensure that your loved ones will have financial security even after you are gone.

Usually, there are no penalties to be paid.

You may receive a cheque for a whole life insurance policy equivalent to the cash value of the policy. However, a term insurance policy will not give any significant payout.

Critical Illness

A Critical Illness Insurance policy covers illnesses such as Cancer, Heart Attack, Stroke, Coronary Bypass surgery, Multiple sclerosis (MS), Alzheimer’s/Dementia and Accidental Death and Dismemberment.

If you are the breadwinner of the family and are suffering from a critical illness, it is recommended to have critical illness insurance. It can provide a lump-sum benefit for diagnoses such as Cancer, Heart attack, Coronary Bypass surgery, Stroke, etc.

Yes, a Heart attack is covered under a critical illness insurance plan.

No, you cannot take multiple claims under Critical illness covers for the same disease. Once you receive the payout for the covered critical illness, the policy will be marked complete. Therefore, no other further payouts will be made for the same policy.

The survival period is the length of time one must survive after being diagnosed with a critical illness to receive your critical illness insurance benefit from your insurance provider.

The survival period is typically 14-30 days. It may differ from one policy to another.

Yes, Critical illness insurance pays out a lump sum when one is diagnosed with a critical illness such as cancer, a stroke, a heart attack, etc.

Group benefit

Yes, you can opt for group employee benefits in Canada. Contact our experienced advisors to learn about the plan.

The four major types of employee benefits are Medical, Life, Disability, and Retirement.

You may be eligible for group benefits plans such as Medical, Life, Disability, and Retirement.

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