Life & Estate Planning

Life Insurance

Life insurance protects against the loss of a life. For a premium a life insurance will pay out a death benefit. There are many kinds of life insurance each with benefits that may suit your personal situation better then another.

  • Universal Life — Purchase insurance protection and invest your money in variable funds at the same time. Let your investment earnings fund your insurance premiums and supplement your retirement.
  • Whole Life — Choose a guaranteed policy with an investment portion to support the premiums at the same level for the life of the insurance policy.
  • Term Life — Term life insurance provides death protection for a stated time period, or term. Term life insurance is perhaps the simplest form of life insurance.

Disability and Health Insurance

Disability insurance is designed to protect employed individuals from financial disaster in the event of a disability that prevents a person from working. Health insurance helps cover the cost of medical expenses not covered by the provincial system. These plans are useful as a means for retaining employees for smaller companies.

Critical Illness 

Critical illness insurance is a form of health insurance that provides a lump-sum payment should you become seriously ill, normally after you have survived the illness for 30 days from diagnosis. Coverage can have term rates of 10 or 20 years, rising at renewal, or level premiums to a specific age when the policy is terminated. Funds can be used for anything that you want: pay off debt, seek treatment or family vacation etc…

Long Term Care

Protect yourself – or your parents or in-laws – from the high cost of long term care services with the financial protection of a long term care insurance plan.

Disability Insurance 

Individual disability insurance is an insurance product designed to replace a percentage of your gross income on a tax-free basis should a sickness or illness prevent you from earning an income in your occupation. Coverage available will have various waiting periods, lengths of coverage as well as definitions of disability. Ensure you are well informed about your disability contract to ensure that you have the coverage you want, when you need it.

Insurance Investment Products

Insurance investment products assist with your retirement savings goals. They differ from other investment vehicles because of the insurance tag component. They offer benefits of creditor protection as well.

  • Segregated Funds — Segregated funds are long – term investments that guarantee 75% to 100% of your original investment, regardless of market performance. Your investment and guarantee are also protected in the event of your death.
  • Annuities — Annuities are a form of retirement income. They offer two major benefits: security and convenience. They’re secure because you have a regular, pre-determined income that is guaranteed for life. They’re convenient because you no longer have to manage your investments and the risk is transferred from you to the insurer. A wide selection of annuities is available.

Please speak to our Credential Insurance Services rep for a full listing of products.

Credential Insurance Services is a member company under Credential Financial Inc., offering financial planning, life insurance, and investments to members of credit unions and their communities. Your insurance contracts will provide details of the coverage available under the plan you choose. Restrictions may apply. ®Credential is a registered mark owned by Credential Financial Inc. and is used under license.

 

Wealth Management