Ready to shop for life insurance?

Life insurance is an agreement between you and the insurer that if you die, they will pay a tax-free lump sum benefit to your beneficiary. This could be your spouse, children, other family members or friend. The choice is yours. In exchange, you pay the insurer a small amount of money over time known as a premium.

If your loved ones would be financially impacted if something happens to you, life insurance offers peace of mind.

What is Life Insurance?

Life insurance protects the financial future of the ones you love by paying a tax-free cash benefit to your beneficiaries. This is particularly important if your loved ones would experience financial hardship in the event of your death. This money can help:

• Pay off loans, debts, mortgages
• Maintain their lifestyle and pay day-to-day expenses
• Pay for your children’s education
• Cover funeral expenses

What about my work plan?

While you may have basic life insurance through work, the coverage may not meet your needs and typically ends when you leave your employer. With your own plan, you’re covered, regardless of what happens with your job. The first step in getting that independent peace of mind is asking for a life insurance quote from a variety of companies.

Benefits of Term Life Insurance

• Term life insurance provides simple and affordable protection for a defined period when insurance needs are high but available funds are limited.
• In the event of your death, the policy pays a cash benefit, tax-free, to your beneficiaries.
• The costs never increase for the entire term.
• Ideal for people who want to ensure debts, like mortgages or loans are paid off, children’s education needs are met or to replace the income of loved ones if they were no long able to support their family.

Term Life Insurance vs Mortgage insurance

There are many reasons why a term life insurance policy is a better choice than mortgage insurance:

• Premiums - With mortgage insurance, there are no discounts for being a non-smoker or for being healthy. Everyone pays the same premiums.
• Underwriting - Mortgage companies use “post-claim” underwriting, which means they’ll only decide if you qualify after you pass away, at which point they may decide that you never qualified.
• Declining Benefit - Mortgage insurance declines as you pay off your mortgage, but the premiums stay the same.
• Beneficiary - With mortgage insurance, the beneficiary is the bank. With personal term insurance, you assign the beneficiary.
• Portability - Mortgage insurance is tied to your home. A simple term policy is portable and covers you regardless of who holds your mortgage.
• Consolidation of coverage - Mortgage insurance only covers your mortgage; a personal term policy can cover all your insurance needs (mortgage, income replacement, education, childcare etc.)

Disability Waiver of Premium

This optional benefit is designed to waive the premium if the individual insured under the basic plan becomes totally disabled prior to attaining age 60 and is disabled for 6 consecutive months. Upon receipt of proof of disability, all premiums paid during the 4-month waiting period will be refunded.

Ask us anything.

Our in-house team of licensed life insurance experts are
available to offer advice when you need it.

Phone - (800) 679-2640 Ext 416

E-mail – info@easyinsure.ca