LIFE INSURANCE IN ONTARIO

Life Insurance from Desjardins Financial Security Independent Network

We offer our clients a host of comprehensive life insurance plans designed to suit a wide variety of needs because the team at Desjardins Financial Security Independant Network (DFSIN) knows how important planning for the future is, especially where your family and assets are concerned.

The perfect plan for you will depend upon your life insurance expectations, as well as what stage you’re at in your life. But don’t worry, our expert team of financial advisors can help assess your needs and come up with the best life insurance quote for you.

Types of Life Insurance We Offer

DFSIN offers four premium types of life insurance in Ontario, all of which have different benefits. They include:

Term Life Insurance

Generally considered to be the most affordable life insurance type we offer, term life insurance provides life insurance coverage for a set period, often 10, 20, or 30 years. Individual plans we offer under this umbrella include:

Term 10: This type of life insurance is designed to meet the varying needs of individuals, as well as families and businesses. This option provides the lowest possible cost for each applicant by employing a preferred method of underwriting with multiple premium categories, in addition to taking factors like health and lifestyle into account. It also includes competitive renewal rates and additional coverage options for those interested.
Term 20: Similar to above except for coverage duration.
Term 30: Similar to above except for coverage duration.
Term to 65: This term life insurance package differs from the ones mentioned above in that it’s designed for those interested in replacing their income in the event of a death, as well as the mortgage borrower market. Often, young professionals and families are the target market for this solution because it provides access to premiums better adapted to their personal circumstances.

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Permanent Life Insurance

Rather than providing you with life insurance for a set duration, like term life insurance, permanent life insurance is designed to provide coverage for the rest of your life. When compared with other policies, this type is more cost-effective over the long term. The permanent life insurance options we offer include:

Whole Life Guaranteed 10 Pay: This plan provides permanent life insurance with a guaranteed cash surrender value that’s payable for 10 years. It also offers other benefits like reduced paid-up insurance as of the 8th year, and more.
Whole Life Guaranteed 15 Pay: This plan is ideal for those who want more for their money and offers a generous surrender value scale and can be presented as a refund for premiums. It’s payable for up to 15 years.
Whole Life Guaranteed 20 Pay: For those looking for a great value for their investment, this plan provides fully guaranteed permanent life insurance at a fixed rate, as well as benefits like eligibility for term insurance conversions without proof of insurance.

Whole Life Guaranteed to 65: This plan is ideal for those looking for a sound investment and offers paid-up premiums and additional benefits at the age of 65, as well as generous guaranteed cash returns after the 5th year.
Whole Life Guaranteed to 100: This plan provides paid-up additional benefits from the age of 65 (excluding dismemberment or loss of use, accidental dismemberment or loss of use, and accidental death), as well as reduced paid-up insurance available as of the 8th year.
Term to 100: This option is considered the most economical permanent insurance and is available as a joint or individual protection. Often used to cover taxes payable at death, it also provides no cash surrender value and the amount and cost of the insurance are guaranteed for life.

Permanent Life Insurance

Rather than providing you with life insurance for a set duration, like term life insurance, permanent life insurance is designed to provide coverage for the rest of your life. When compared with other policies, this type is more cost-effective over the long term. The permanent life insurance options we offer include:

Whole Life Guaranteed 10 Pay: This plan provides permanent life insurance with a guaranteed cash surrender value that’s payable for 10 years. It also offers other benefits like reduced paid-up insurance as of the 8th year, and more.
Whole Life Guaranteed 15 Pay: This plan is ideal for those who want more for their money and offers a generous surrender value scale and can be presented as a refund for premiums. It’s payable for up to 15 years.
Whole Life Guaranteed 20 Pay: For those looking for a great value for their investment, this plan provides fully guaranteed permanent life insurance at a fixed rate, as well as benefits like eligibility for term insurance conversions without proof of insurance.

Whole Life Guaranteed to 65: This plan is ideal for those looking for a sound investment and offers paid-up premiums and additional benefits at the age of 65, as well as generous guaranteed cash returns after the 5th year.
Whole Life Guaranteed to 100: This plan provides paid-up additional benefits from the age of 65 (excluding dismemberment or loss of use, accidental dismemberment or loss of use, and accidental death), as well as reduced paid-up insurance available as of the 8th year.
Term to 100: This option is considered the most economical permanent insurance and available as a joint or individual protection. Often used to cover taxes payable at death, it also provides no cash surrender value and the amount and cost of the insurance are guaranteed for life.

Life Insurance that Includes Investment Options

In addition to the life insurance plans above, there are also several that include investment options, enabling our clients to grow their estate while still remaining protected and secure. These life insurance solutions include:

Participating Life Insurance: This option provides lifetime insurance coverage, as well as opportunities to access cash or grow your estate through the use of flexible, tax-efficient dividend solutions. You’ll also be able to increase your death benefit to deal with inflation and adapt coverage options should your needs change over time. With the participating life insurance plans available from DFSIN, you can decide how long you want to pay your premiums (for 20 years or to age 100) and use dividends to purchase additional life insurance or reduce your annual premium.
Universal Life Insurance: This is an attractive option for those who want to grow their assets tax-free in a savings fund and also have flexible life insurance coverage. You’ll be able to leave behind a large, tax-free inheritance, as well as reduce the tax burden on your estate. Additionally, those who’ve already maxed out their RRSP and TFSA contributions will be able to invest money into their universal life insurance plan tax-free. You can also use your savings fund to cover premiums in the coming years or increase your insurance amount.

Benefits of Life Insurance Coverage in Ontario

For all Canadians, life insurance can help protect your family every step of the way. Ensures that your loved ones are financially protected when you pass away. The death benefit can cover final expenses, debts, and living costs, providing peace of mind.

Life insurance costs vary based on factors like age and health, but there are options available to find affordable coverage that fits your budget. This can be a critical part of your financial plan, helping to protect your family’s financial future and providing a safety net in times of need.

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Contact DFSIN for premium life insurance options today!

With more than 80 representatives from all walks of life working throughout Ontario and the Greater Toronto area, our team has made a name for itself and developed a reputation for offering affordable life insurance options and exceptional customer care for Canadian residents.

We serve all of the following areas:

Brampton
Mississauga
Etobicoke
Oakville
Burlington

In addition to our comprehensive life insurance policies, DFSIN also offers critical illness insurance , business coverage solutions, and long-term disability insurance for Canadian residents who are self-employed.

Our financial advisers have the experience and expertise to help with everything from buying a home to planning your retirement To learn more about the financial solutions we offer, contact our Life and health insurance advisor online today for a FREE quote or call (416) 695-1433.

FAQ

WHAT IS LIFE INSURANCE?

Life insurance is a contract between you and an insurance company, designed to provide a death benefit to your beneficiaries when you pass away. This type of coverage can help protect your loved ones financially, ensuring they are taken care of when you are no longer there. In Canada, various types of life insurance are available, including term life insurance and permanent life insurance policies, each offering unique benefits to suit different needs.

HOW DOES LIFE INSURANCE WORK?

In general, most life insurance policies work similarly: in exchange for a fee (your insurance premium) that you pay monthly or annually, a life insurance company provides a certain amount of coverage for your entire life. If you pass away while the policy is in effect, your beneficiaries will get a tax-free payment known as the death benefit.

CAN I BUY INSURANCE ONLINE?

Custom health insurance is designed to be sold by a licensed representative. You’ll need to contact them and express your needs and they’ll be able to give you an adequate quote or discuss your options. Connecting with a representative will be the best way for you to assess your situation, as they’ll be experienced with your type of needs and will have worked with others like you.

If you’re in need of life insurance, critical illness insurance, or any other type of insurance, the professionals from Desjardins Financial Security Independent Network are always available to assist you. Contact them online today or call (416) 695-1433 to get a free quote.

CAN I INSURE MORE THAN ONE PERSON?

Insuring more than one person at a time isn’t unusual at all. However, it all depends on what type of health insurance plan you purchase. Many life insurance plans can cover yourself, as well as your spouse and children. There are also business plans that you can purchase to cover staff members, and often, you can add your spouse or children as employees to cover your family. However, the best way to get a clear idea of who you can and can’t cover on a particular insurance plan is by speaking with a qualified representative. They’ll be familiar with your situation and have the experience to answer any questions you may have about the insurance buying process.

To learn more about purchasing health insurance from a qualified provider, Desjardins Financial Security Independent Network has been helping families and businesses find the right plan for them for decades. They offer critical illness insurance, life insurance, and more so visit them online for a free quote or call (416) 695-1433.

HOW MUCH INSURANCE COVERAGE SHOULD I BUY?

The amount and type of insurance you’ll want to purchase will likely depend upon a variety of factors, such as whether you’re single or have a family, your financial status, your state of health, whether you’re a business owner…the list goes on. Many find that purchasing life insurance is adequate to cover them and their family should an unexpected event happen. However, there are also more specialized plans, such as critical illness insurance, which covers you and your family should you fall victim to a critical illness and be unable to work for a time. Also, take into consideration the debts you have and other financial obligations, as well as your daily living expenses; if something were to happen, what would you need to cover them?

The best way to determine how much health coverage you’ll need and what type of health/life insurance plan you should purchase is much easier when speaking with a professional, like the representatives from Desjardins Financial Security Independent Network Network. For a free quote call (416) 695-1433 or contact them online todayto give you the best deal for life insurance in Ontario!