There is a wide array of Life Insurance Products that you can use to protect what is most valuable to you and your family.
Weyburn Security Peak Insurance has contracts with over 10 well known life insurance companies in which we can offer products from.
What do I need to insure?
Many people don’t like to think of the “What ifs?” of their life. We help you work through this. Dying or become disabled can seriously affect you and your family’s quality of life. Things like replacing income in the event of injury or sickness, covering debt in the event of death (ie mortgage payment), covering final expenses upon death or simply setting your children up with funds upon your death.
Term Insurance: A simple and affordable form of insurance. Decide how many years of coverage you need and the amount of debt to be covered of the term. The premium remains the same through the term, as does the death benefit. Term insurance provides great security to you and your family.
Permanent Insurance: A guaranteed payment upon death that lasts a lifetime. Many people like to use permanent insurance to leave a payout for their kids upon death. Permanent insurance can also be used as tax efficient investment. They can have an investment component inside the policy (on top of the insurance coverage) that can grow on a tax-deffered basis until withdrawn, much like a RRSP. Permanent insurance will be more costly.
Critical Illness: In the event of big health emergency’s such as cancer, heart attack or stroke, Critical Illness can provide payment to you for major expenses that you may incur with the onset of one of these illnesses. Ask us about coverage and if it is right for you.
Disability Insurance: If you were not able to work for the long term, how would your family be affected by the loss of income? Disability can help you in the event of a major injury or sickness that can affected your ability to work. Generally, you are eligible to receive 67-75% of your current income under a disability policy. Price will fluctuate based on the type of work you do on a day-to-day basis (ie: dangerous work vs a safe office job).
Riders: A rider is an additional benefit added on to your plan to boost the level of coverage. An example would be an Inflationary rider that increases your death benefit as inflation increases. There are many different riders that we can offer to customize the policy to your specific needs