Life Insurance

Term insurance policies provide protection for a specified period of time. Term insurance typically provides coverage toa specified age or for periods of time spanning one, five, 10, 20 or more years.

Term insurance policies tend to have lower premiums while the life insured is young, but premiums can rise significantly whenthey are renewed at the end of the term. Term insurance policies are ideal to cover large obligations over a short period when funds available for insurance are small.

Under certain conditions, most term insurance policies can be converted to a longer-term or a permanent policy without medical underwriting to provide maximum coverage over the long term at a manageable cost in the short term. Term insurance does not typically accumulate cash values.

Term-to-100 insurance policies are generally regarded as permanent insurance with the main characteristics of term insurance policies.

Most term-to-100 policies don’t build cash values or pay dividends, but provide a death benefit to age 100 and havelevel premiums, regardless of changes in age or health as long as the policy premiums are kept up to date.

Permanent insurance differs from term insurance in that it provides lifelong protection and usually accumulates cashvalues.


Whole life insurance policies provide a guaranteed death benefit and their premiums are usually guaranteed to remain level throughout your life, regardless of age and health changes.

Whole life policies often pay dividends and accumulate a cash value that may be used to continue coverage if premiums are missed, withdrawn, or borrowed against.

Universal Life is a more flexible, interest-sensitive permanent life insurance policy that is divided into basic insurance and an investment account.

Within certain limitations, you determine how much goes into each account (basic insurance and selected investment vehicle) and you can increase or decrease your premiums and the death benefits.

The flexibility in universal life insurance allows for premium and benefits readjustments at specified times, depending on your insurance needs and on your investment choices.

Living Benefits

Disability Insurance is paid out alongside government disability programs on a regular basis after your selected elimination period to ensure that you and your family are able to meet financial obligations during your absence from work.

Short-term or long term disability can happen at any age and strikes far more frequently than premature death. Disability can happen suddenly, from an accident or illness, or develop over time. About one third of all people currently aged 35 will be unable to work for at least six months before reaching age 65 due to a disability. (Source: CIA 86?92 Aggregate Table & 1985 Commissioner’s Disability Table A, Experience Table)

Having adequate disability insurance is crucial. Whether it is to pay the bills while you recover and rehabilitate before resuming your previous career or to provide the funds necessary to prepare for a new career, disability insurance can mean the difference between your family being financially ruined, or financially secure.


Critical illness insurance provides a lump sum benefit, after a pre-determined survival period, if you suffer from one of the illnesses covered by your policy. Most insurance providers cover 18 serious illnesses, including heart attack (as defined by provider guidelines), cancer, stroke (not a TIA), and Parkinson’s and Alzheimer’s disease.

Because it is a lump sum payment, what you choose to do with the benefit is entirely up to you. You can use the money to help you pay recovery costs, improve your care if beyond recovery, seek alternative care, pay off your mortgage, hire a health care worker, or cover expenses until you can return to work.

Coverage spans a wide range of coverage amounts – from about $10,000 to $2 million -and coverage terms – including up to age 65, to age 75, and even lifetime coverage in some cases. People aged 35 to 50 typically purchase critical illness insurance due to the relatively low premiums for that age group. Premiums for term Critical Illness insurance are generally reasonable up to age 55. Some critical illness policies provide a return-of-premium option at a certain age or upon death if no claim has been made.