Life Insurance

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A proper financial plan can mean the difference between leaving your loved ones well-positioned financially and leaving them to cope with debts and an inadequate income.

Life insurance can help create financial security for you and your family. If you should die prematurely, it can be used to:

  • Pay final expenses and any debts
  • Provide an income for your family
  • Ensure your family has the resources to maintain a comfortable standard of living
  • Leave a legacy to your favourite charity

While you’re still living, some life insurance policies can:

  • Build tax-advantaged savings you can draw upon as needed for personal or business opportunities
  • Supplement your retirement income or provide for long-term care or home care for yourself or a family member

Depending on an individual’s needs, desires and health condition,

there are many types of insurance available. The right life insurance solution for you depends on your immediate needs and long term goals.

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Term Life insurance

Term life insurance is well-suited to meet high, short-term protection needs for the lowest initial cost. For example, the loss of an income earner, especially early in life can cause extreme financial hardship for those left behind. How will the mortgage be paid? How will the children’s education

be funded? Will the family have enough income to maintain their standard of living?

Term insurance is often used to provide coverage for these temporary situations. With term insurance policies, your premiums only pay for the cost of the insurance; there is no savings

component or cash value. As a result, the initial premiums on a term insurance policy are generally lower than the premiums on a comparable permanent insurance policy. If you stop paying premiums, the coverage expires. Term life insurance premiums often increase every 10 or 20 years, although some policies provide for level premiums over longer periods of time.

Permanent Life Insurance

Permanent life insurance can protect you for your lifetime. Regardless of when an individual dies, there will likely be taxes, funeral costs and other expenses due at death. In addition, some individuals may desire to leave a bequest at the time of their death or wish to maximize their estate value.

For business owners who have accumulated a sizable investment portfolio or estate, permanent life insurance can be an important tool in helping to transfer a business successfully, reducing taxes or as a wealth positioning asset with valuable tax sheltered accumulation and tax effective estate transfer capabilities.

For permanent needs, there are insurance products that provide primarily protection with the lowest annual cost outlay such as permanent term insurance (Leasing) or Limited Pay products (Owning), to those which allow substantial tax sheltered growth and asset allocation potential such as whole life and universal life insurance (Owning with Equity and Growth).

price comarison for life insurance

This graph shows how the premium of different life insurance policies will change during the life time.

Testimonials

"Mahshid has an amazing talent for blending professionalism seamlessly with a friendly and compassionate demeanor. I have been particularly impressed with her ability to convey her expertise in easy to understand language. The depth of her knowledge made the decision making process easy for me in several financial and insurance cases. Her professional recommendations and assistance in selecting the appropriate policies have always given me peace of mind. Mahshid is thorough, educated and it is clear that she has the best interests of her clients in mind. I encourage anyone looking for financial or insurance services to contact with Mahshid right away!"
— Younes Rashidi, MASc, BSc at Simon Fraser University