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.
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.
Universal life insurance combines the benefits of a lifetime insurance policy with a tax-advantaged investment component that you select and manage based on your objectives. It also offers the added convenience and flexibility of adjustable premium and payment schedules.
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.
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Naoto Horita Inc