LIVING BENEFITS

Your wealth needs protection
just as much as you do.

Protecting your wealth

Which Living Benefits Insurance
is right for you?

Living benefits are insurance solutions focused on providing protection should something unfortunate happen while you are still living. Living benefit products can help cover expenses and everyday bills should you become disabled or be diagnosed with a critical illness.

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Living Benefits Insurance Products

Critical Illness

Provides a lump sum benefit to help you respond to the financial impacts of the insured person being diagnosed with, and surviving one of the covered illnesses. It protects you, your family and your business. It can protect debt and savings plans in the short term or employment and retirement income for the long-term. Most plans can be customized to fit the current and future needs of the insured. The product features and various optional benefits, such as Long term care conversion option, Return of premium options, Total disability waiver and Owner waiver benefits, can be used in combination to create flexible and affordable coverage to follow a client through every life stage.

Provides you with financial assistance that can be used as you wish and allows you to have the time necessary to devote yourself to your recovery. During a temporary work stoppage caused by a serious illness and the ensuing additional expenses will have consequences for your finances and your standard of living.

Hmmm…what are the odds?

Canadians’ likelihood of experiencing unforeseen events over a lifetime

Disability Insurance

What is Disability Insurance?

Medium or long-term work stoppage due to disability would affect your finances and your standard of living. Disability and salary insurance allows you to benefit from a monthly income in order to meet your financial commitments and assume the costs related to your physical condition.
Not only do you lose your main source of income during a disability, but you often have to incur additional costs due to your medical condition.

This comprehensive protection covers both self-employed and salaried workers at all times in the event of an accident or illness, regardless of the location of the accident (home, work, recreation, etc.). A monthly amount, non-taxable, is paid to you and the duration of benefits is 2 years, 5 years or up to 70 years. Renewal is guaranteed.

It is possible to add certain additional protections, including overhead insurance, which allows you to cover the operating costs of your business.

In the event of disability, Universal Loan Insurance is the solution of choice, because it protects your claims by paying the monthly payments on all your loans in the event of disability due to illness or accident. This protection can also fund buy-out agreements.

Long Term Care

Why include long term care insurance (LTCI) in your portfolio of product solutions?

You’ve put a lot of time and effort into planning for the retirement of your dreams. You understand that retirement is a complex time of life with many changes to finances, health and relationships.

It’s important to recognize and consider your future health care needs and the impact your expectations will have on your plan. Long term care insurance can help with financial protection for the means to pay for the level of care you want and expect.

What is LTCI?

Long term care services address the health, social and personal care needs of individuals who have lost the ability to care for themselves. While a certain degree of public support is available, government programs are not comprehensive and long term care services can be costly.

Long term care insurance helps to pay for care services that other plans don’t provide, bridging the gap between what is provided and the extra care or services you might want to access.

Long term care insurance helps to cover the costs of care, meaning:

You have more choices around the kind of care and amount of care you’ll receive.
Your savings and investments can be preserved.
Freedom, to enjoy your money now and in retirement because you’re prepared.
Having a plan that helps protect their savings means living retirement to its fullest.
Choice, from a product that can be tailored to your needs and which provided features and options that will allow for more choice when needed in your retirement years.
Flexibility, from a benefit that can be used to pay for the type of care that’s right for your needs and your situation - whether it’s purchasing private home care or compensating a child who provides assistance.

Quick facts

The average life expectancy of a Canadian male is 78 years. Over nine of those years are expected to be with a diminished quality of life.

The average life expectancy of a Canadian female is 83 years. Just over 14 of those are expected to be with a diminished quality of life.*

* Source: Statistics Canada, 2012

Your wealth needs protection just as much as you do.