is an insurance policy that pays
a death benefit to
beneficiaries or the owner of the policy, if the insured dies. It is
important that the beneficiaries designated in the life insurance
policy receive death benefit
TAX FREE. In return for this protection,
the owner of the policy pays premiums to the
Every day most people face a risk to lose their income as result of
getting sick or injured and risk of premature death. The risk
insured with Life Insurance is the direct or indirect loss of
money (capital or income) that may occur as the result of someone's
death. Aid to the families of those who dies prematurely may be
sometime provided by relatives, friends, orphanages, poorhouse, etc.
Unfortunately, such help is often unavailable or inadequate to
implement what was planning, for example: the children would get
appropriate education, the family would not lose the home, the debts
would be paid out, and so on.
Whether or not you need to buy
depends on how much you have in the way of assets, how much debt you
have, and whether or not your family could make ends meet without your
income. Since death benefit goes to the beneficiary tax free, wealthy
people may use
Life insurance to
transfer their estate to the heirs with minimum tax expenses.
quick and easy Online
below to estimate
your insurance needs:
There are many life insurance plans
you can choose from, but basically, Life insurance may be for a certain
period of time (Term Life Insurance) and for life (Permanent
offers cost-effective way to cover short-term needs: provide an
ongoing income to maintain the family's current lifestyle, pay off
mortgage or debts,
provide money for children's education,
provide temporary financial support to
supplement the family income, when one spouse dies.
Read more >>
(Whole) Life Insurance
This form of life insurance is able to provide protection for the
entire life of the insured, rather than just for limited period of
time. As distinct from
Term Life Insurance,
in most instances, permanent policies are designed with a level
premium payment for the lifetime of the policy, providing lifelong
protection at a predictable cost.
makes this policy an attractive investment tool.
Participating Whole Life Insurance
is a permanent life insurance plan that
provides you with permanent lifetime insurance protection and enable
you to accumulate a cash reserve to use for
personal or business opportunities,
as a savings plan, for
financial emergency, to supplement your children’s education fund,
or to have additional funds for retirement and
for long -term care and home care. Read more>>
Universal Life has the insurance
and the investment elements, which have a
symbiotic relationship: the investments may
pay for the insurance coverage, and existence of the
insurance elements permits the investment growth to accrue within a
in the policy may be withdrawn and provide additional income or the
value of your investment may be added to the death benefit and will
go to the assigned beneficiary without tax.
Life insurance premiums
depend on the insured's gender, coverage, smoker/non-smoker
plan and insured's age, which reflects unfavorable statistics for
The chart below shows how monthly
premiums change during existence of the policy
for different kinds of insurance: T10, T20 and permanent life
insurance (female, 35 years old, non-smoker, death benefit -
Application for Life Insurance
You can apply for Traditional Life
Insurance, Non-Medical Life insurance
and Guaranteed Issue
Traditional Life Insurance
This life insurance policy may be issued for the
applicants who are from 0 to 85 years old at the moment of application
for the policy. Amount of coverage may be from $10,000 to $10,000,000.
These plans are medically underwritten at the time
of application: you have to complete a detailed
medial questionnaire, have some medical
tests if required (it depends on your age and amount of coverage). Your
application and medical information will be reviewed and the company
will make decision (approved, rated or not approved ).
There is a variety of plans you can choose from:
Term, Whole life, Participating Whole life, Universal life insurance.
We can help you determine the
right life insurance for your needs. You can make a
Face-to-Face appointment with us or complete None Face-to-Face
application. Please contact us for more
Non-Medical Life insurance
Non-medical plans do not require
medical tests at the time of application. However, you have to complete
a simplified medical questionnaire to determine your eligibility for
this life insurance plan. If you are not sure how to answer to any
question, you need to consult your doctor. This plan is medically
underwritten at the time of claim: your medical medical questionnaire
will be verified against your medical records to check your eligibility.
Insurance companies issue term and
whole life non-medical life insurance plans. Amount of coverage depends
on the plan and the applicant's age and usually does not exceed
get more information and free instant quote for non-medical life insurance offered by Humania Assurance.
Issue Life Insurance
When you apply for Guaranteed Issue Life Insurance,
no health questions are asked and no medical exam is required. Your
application will be accepted regardless of your health status, however,
there will be a two-year deferral period.
In the first two years, the benefit of this
policy is the amount of premiums paid
It is Permanent life
insurance and applicants up to 85 year old can apply for this plan.
Amount of coverage usually is no more than
You can choose life insurance from Canada's top insurance companies:
Manulife Financial, BMO Insurance,
Equitable Life of Canada, RBC Insurance,
Empire Life, Industrial
Alliance, Canada Life and other companies.
If you have any questions or concerns