Life Insurance

Assuring your Life and Covering All Your Bases Using Insurance

When it comes to living life, not having insurance for your family risks their losing everything. Think about what you have to lose, and think about what would happen to the people you know if you were suddenly out of the picture. Without life insurance, you have no protection for your mortgage, your business or your family, and those who remain would be left to manage it all by themselves.

CanEquity Insurance is in the business of helping prevent these kinds of difficulties. Drawing on our experience working with Canadians for over 7 years, we have a unique perspective on managing the intricacies of owning a home, balancing your chequebook and doing what's best for your family. We'll take you through the entire process from start to finish, helping you make choices that will concrete your financial wellbeing in the future. We also have extensive experience working with Canadian business owners, protecting commercial mortgages, business loans, and helping setup group benefits for their companies.

The Less Known Benefits of Life Insurance

Many life insurance companies, especially brokers, tend to focus only on the life and death aspect of a life insurance policy. While the life and death aspect is important, they tend to dash over the less known but most exciting aspects of life insurance. Did you know that life insurance can be used to preserve your assets? It can be used to invest tax efficiently. It can make business succession planning seamless. It can be used to fund retirement. It can be used to as collateral for a mortgage. It has many more uses than might be immediately apparent. At CanEquity we work hard to make you aware of the key benefits of using life insurance products.

Comparing Quotes from Canadian Life Insurance Companies

In Canada you can get quotes from over 35 life insurance companies. Each provider has unique product offerings that cater to subsets of Canadians. Finding the answer to the question of whether you have enough coverage, whether you have the right coverage, or if you're paying too much is a broker's job. CanEquity will shop the market for you and find the best life insurance products and lowest rates. Our brokering services are completely free, but our commitment to quality is second to none.

Mortgage Life Insurance

Mortgage life insurance is an industry term referring to any life insurance policy that protects your mortgage. The three commonly used forms of mortgage life insurance are term life insurance, declining life insurance and creditor insurance. Term life insurance is usually the best option among them, but depending on your situation one or the other may be more beneficial.

• There are three types of mortgage life insurance.
• Term life is generally the best type of mortgage life insurance.
• Traditional mortgage life insurance is not portable. Term life used as mortgage life insurance is completely portable.

Term Life Insurance

Term life insurance is temporary life insurance coverage for short-term financial obligations like your mortgage, business loans, and income for dependant family members. Typical terms for coverage span between 5 and 40 years. The Term to 100 permanent life insurance policy also exists as a simple alternative to universal and whole life insurance policies.

• The most cost effective temporary life insurance in the industry.
• Easily convertible to permanent life insurance.
• Renewable at end of term regardless of health.

Whole Life Insurance

Whole life insurance is permanent life insurance with a stable, tax efficient investment component. In a whole life policy you either pay for the cost of insurance over the term of your life or over a period of time such as 10 or 20 years. Your payments contribute to an investment fund that grows stably until the maturity of the policy.

• Permanent life insurance that will protect you for the rest of your life.
• Stable, tax efficient investment component.
• The option to pay for the whole policy in as little as 10-15 years.

Universal Life Insurance

Universal life insurance is permanent life insurance with a separate investment component. Any payments made in excess of the basic cost of insurance grows in a flexible investment fund. Universal life gives the policy holder fairly extensive reach into the types of investments used. Like its predecessor, whole life, these policies can be paid for in as little 10 years, after which you're protected for life.

• Permanent life insurance that will protect you for the rest of your life.
• More aggressive, yet tax efficient investment component.
• The option to pay for the entire policy in as little as 10 years.

Please don't hesitate to contact us about any other type of insurance or coverage because this list is just the beginning. CanEquity Insurance professionals are online now and ready to assist you with all of your insurance and mortgage needs.