Life insurance can give you the confidence to know you’re taking care of your final expenses or are leaving a legacy behind. It may even help protect the lifestyle of those you love. Life insurance is important if there are people who depend on you financially. You can use it to help protect the people that you love and, in some cases, grow your wealth.
Term life insurance helps you meet short-term protection needs over a set period of time. It’s ideal if you’re looking for a cost-efficient way to cover large debt for a specific term – for example, a mortgage.
Simple and affordable coverage for big expenses, so you’re protected when it matters most.
Narrator: We all have someone or something worth protecting.
Description: Amira stands outside with her husband and daughter.
Narrator: A family, a home, a business.
Description: Three graphics enter frame illustrating a family of three, single-story home and small business.
Narrator: At Canada Life, we offer term life insurance for 10, 20 or 30 years or until you turn 65.
Description: Cut to bar graph displaying age from 25 to 65. A bar for “Term 10” appears to show coverage from age 25 to 35. Bars for “Term 20” from age 25 to 45, “Term 30” from 25 to 55 and “Term 65” from 25 to 65 follow.
Narrator: An advisor can help you choose the timeframe that works for you.
Description: Amira’s hand enters frame and chooses “Term 10.”
Narrator: Figure out how much insurance you need.
Description: An outline of a circle appears to show the coverage amount. The amount increases to $650,000 as the circle fills in.
Narrator: And set up monthly or annual payments.
Description: Cut to two buttons labelled “Monthly” and “Annual.” Amira’s hand enters frame and chooses “Monthly.”
Narrator: Either way, your payments will stay the same over the entire coverage term for easy budgeting.*
Description: Cut to Amira outside, sitting on the porch of her home, looking at her phone. She receives a notification from her phone that her insurance payment has been made. A legal line appears: *Payments stay the same as long as you make required insurance payments.
Narrator: If the unexpected happens, term insurance can be used to pay debts,
Description: Cut to Amira’s hand passing an envelope to her husband.
Narrator: like a mortgage.
Description: A graphic enters the frame illustrating the cost of a single-story home.
Narrator: It can cover final expenses or help fund a child’s education.
Description: Two more graphics follow, illustrating a bill for final expenses and stack of books for child’s education.
Narrator: It can even help keep a business running.
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Narrator: If your needs change, you can renew or extend your existing term coverage.
Description: Cut back to bar graph displaying age. A bar for “Term 10” returns, showing coverage from age 25 to 35. “Term 20” is added to extend coverage to age 55.
Narrator: or convert it to a permanent insurance policy.
Description: The bar transforms to “Permanent,” showing coverage from age 25 to 65.
Narrator: Term life insurance helps you protect what matters most today.
Description: Amira plays with her daughter in their living room, while her husband reads a book.
Narrator: Don’t have an advisor? We can help at canadalife.com.
Description: Text “Don’t have an advisor? We can help at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company. canadalife.com 1-888-252-1847
Permanent life insurance provides guaranteed, lifelong coverage that protects the people you care about. It offers cash values that can grow over time to either increase the value of your death benefit or help pay for future goals like an education fund, starting a new business or supplementing your retirement income. There are two types of permanent life insurance: participating life insurance and universal life insurance.
Participating life insurance provides lifelong insurance coverage and pays the person you choose a tax-free payment when you die. Your policy is guaranteed to grow in cash value as long as you make your payments.
We all feel invincible until we suddenly aren’t anymore. But you can help minimize the impact an injury or a serious illness has on your plans. Insurance can provide you a tax-free payment if you’re diagnosed with a serious illness or a monthly income if you can’t work.
Critical illness insurance allows you to focus on your recovery knowing you have the money to help with your expenses if you're diagnosed with a serious illness. You’ll get a one-time, tax-free payment you can use for whatever you need. Through your coverage, you can also connect with healthcare specialists.
Disability insurance works when you can’t. It can give you tax-free monthly income to help pay expenses if an illness or accident stops you from working. Not all disabilities are so easily recognized. Chronic pain or a mental health issue can also qualify as a disability.
As Canadians, we’re fortunate to have public healthcare coverage – but that doesn’t mean your provincial healthcare plan provides all the coverage you need. Health and dental insurance can help pay for prescription drugs, dental, hospital, vision, paramedical and ambulance services. Coverage is similar to a group benefits plan that an employer may offer and is a great option if you’re retiring, self-employed or not eligible for group benefits.
Let's talk about how to protect what matters most.