Frequently asked questions

Funeral insurance protects your loved ones by covering the costs of the burial or cremation and service. Most funeral insurance policies range between $5000 and $25,000 in value and are available to persons up to age 90, so it never becomes too late to start life insurance plan, earlier the better as your good health and young age can get you lower premiums, which never change over the years and cover you till you live.

funeral insurance can also be used to pay off additional medical costs or other incurred bills so our families will not be hounded by debt collectors at one of the saddest moments of their lives. Funeral insurance benefits are 100% TAX FREE.

Final expense insurance is a smart choice for anyone and everyone because we never know when the time will come. Funeral insurance is easy to get and to afford. Funeral insurance provides tax free money to help them through this emotional difficult time so as at this weakest emotional point they don’t have to worry about money. Funeral insurance also provides us with the peace of mind of knowing we have eased the financial burden and the stress of our loved ones by taking important step of buying a plan now to prepare for the future.

Most of the times we look into Life Insurance when some one close in the family dies; or change in health occurs. Is that the right time to look into Life Insurance?

We suggest at following events in Life as right time to buy Life Insurance and then add on to it, however each person is unique with unique insurance needs; hence sharing your personal circumstances with our licensed Insurance Broker is needed to plan your personal financial security plan. Points below are just to give you general idea:

• When you get your first job and start making money that’s a right time to start buying life insurance, as you are young cost of insurance is very low, starting of a plan like $50,000 or $100,000 selecting paid up option where you don’t have to pay for life time but only for limited time like 10/ 15 / 20 years and then your policy is paid for.
  
• Second time when you get married and start family is also a good time to buy additional coverage in form of Term Insurance where God forbid in the event of untimely death your spouse would be able to replace your income and continue with the same life style you are living, before he or she could adjust to the non replaceable loss.
  
• Third time, when you buy your own home and have taken the responsibility of mortgage from a bank as lender so as in the event of untimely death the mortgage is paid for, again a term plan for this risk coverage is good option with many riders available to help you and your family, please discuss with our licensed Insurance Broker.
  
• Fourth time, When you plan kids and family is growing, buying again a term plan for 25 years is advisable as  during this time kids would grow, complete there education and establish them self in there own careers and then probably need of this coverage is not any more.
  
• Fifth Time, When you start new own business, additional coverage just to cover the additional loans or debt you have taken to start this new venture.
  
• During your life time- estate(Estate Planning) that you have built may be subjected to many taxes like Probate, Capital gain tax and other costs involved including final or funeral expenses at the time of death , so again planning ahead is advised as surely you would like to pass on the entire estate to your loved ones and wont like them to sell a portion of it to pay off these taxes and fees at that time, the first plan that you bought would prove to be helpful as if it won’t coved the whole taxes or cost, it would certainly offset it with the amount of coverage you originally started at first point.

When applying, always apply with three or more insurers or insurance company at the same time, doing that yourself could be troublesome, so taking a help of life insurance broker is a better option, as we can apply for you with three or more life insurance companies at the same time and the advantages are as following:-

• Medical requirements are completed only once and results are forwarded to all companies at the same time.
  
• These insurance companies are informed by us that you are shopping around and are going to accept best offer only.
  
• Insurance companies do want your business hence a healthy competition is created and you as a smart and mature consumer is benefited.
  
• For example if one insurance company rates up policy and this was the only Insurance company where you have applied with then you are out of luck as this info goes to your medical information Bureau- MIB and now every insurance company knows that you have been declined or rated or postponed in the past and its kind of red flag.
  
• Other example if 2 out of 3 companies are willing to accept you at standard premiums but one company might be able to offer you preferred rate in order to get your business.
  
• When you complete app for 3/ 4 companies at same time chances are one of the companies should accept you at better monthly premiums.
  
• With our past experience it has always worked in the best interest of client.

When applying, always apply with three or more insurers or insurance company at the same time, doing that yourself could be troublesome, so taking a help of life insurance broker is a better option, as we can apply for you with three or more life insurance companies at the same time and the advantages are as following:-

• Medical requirements are completed only once and results are forwarded to all companies at the same time.
  
• These insurance companies are informed by us that you are shopping around and are going to accept best offer only.
  
• Insurance companies do want your business hence a healthy competition is created and you as a smart and mature consumer is benefited.
  
• For example if one insurance company rates up policy and this was the only Insurance company where you have applied with then you are out of luck as this info goes to you medical information Bureau- MIB and now every insurance company now knows that you have been declined or rated or postponed in the past and its kind of red flag.
  
• Other example if 2 out of 3 companies are willing to accept you at standard premiums but one company might be able to offer you preferred rate in order to get your business.
  
• When you complete app for 3/ 4 companies at same time chances are one of the companies should accept you at better monthly premiums.
  
• With our past experience it has always worked in the best interest of client.

If you were recently or some time ago declined for life insurance, that does not mean its end of story. There could be various reason of decline accordingly a right match of the life insurance company could be found which would be able to take or consider your risk. For example reason for decline could be as under:-

• Poor health conditions.
• Health conditions not under control.
• Health conditions pending for proper diagnose.
• Bankruptcy
• Criminal History
• DUI – Driving under influence of alcohol

These are just main reasons; there could be more depending on case to case basis. Best option at this time is to talk to one of our experienced licensed Life insurance broker and they will be able to suggest you based on individual circumstances.

• A fee-for-service, self-employed professional
• Doctors
• Specialist Physicians
• Medical Practioners
• Registered Nurses
• Psychologists
• Dentist
• Dental Hygienists & Dental Therapists
• Pharmacist
• Engineers
• Structure Engineers
• Architects
• An executive
• A business owner
• An employee

Transplant Surgery Benefit

If you become disabled from a surgical procedure in which you are the donor of a body part transplanted to another person, you will be considered to be disabled due to sickness if your policy has been in force for at least 6 months.

Waiver of Premium

If you’ve been disabled for 90 days, we will refund the premium you’ve paid during this period and waive the premium while your disability continues.

Presumptive Disability Benefits

Presumptive disability is another insurance term that has a specific definition of total disability. If certain events occur, even if they result in only a temporary disability, you are assumed to be eligible for monthly income benefits. you still may be eligible for disability retirement benefits. : Speech | Hearing of both ears | Sight of both eyes | Use of both hands or both feet | Use of one hand and one foot

If you are presumptively disabled, the waiting period will be waived and you will be considered totally disabled, even if you engage in any occupation.

For certain occupation classes only, the monthly benefit will be increased by 25% and we will pay a lump sum benefit equal to the lesser of 3 times the increased monthly benefit and $15,000.

Catastrophic Disability Benefits

(available for certain occupation classes only)

Catastrophic disability means you suffer a “Loss of Independent Existence” as defined in the policy. If you are catastrophically disabled, the waiting period will be waived and you will be considered totally disabled, even if you engage in any occupation.

The monthly benefit will be increased by 25% and we will pay a lump sum benefit equal to the lesser of 3 times the increased monthly benefit and $15,000.

Survivorship Benefit

If you die while receiving disability benefits, a lump sum death benefit of 3 times the monthly disability benefit will be paid to your estate.

Rehabilitation Benefit

While you are receiving total disability benefits, you may qualify for the payment of the direct cost of services in connection with a pre-approved vocational rehabilitation program.

Recurrent Disability

Your monthly disability benefit may resume immediately if the same or a related disability recurs within a specified period.

Recovery Benefit

You may qualify for a recovery benefit for 2 months after you return to full-time work in the occupation you had before you became disabled.

Term or Permanent Life Insurance, which one is better?

The purpose of life insurance that you are buying for. For example If you are buying life insurance to protect a mortgage, so as in the event of untimely death family behind does not have to bear the burden of mortgage payments then a term policy for the duration of mortgage would be a better option where you can cover the risk with small monthly premium and if the purpose of life insurance is to pay final expenses, probate taxes, capital gain taxes and other related fees a permanent insurance is better option as you know for sure one day these funds would be required for the intended purpose so permanent policy would pay a lum sum benefit for sure one day when the time comes and will never run out on you even if you live to age of 115.
Term Insurance offers low-cost protection for a temporary period, say 10, 15, 20, 25, 30, 35 years. But the cost rise many fold at renewal. For example a 40 year old male non-smoker can take out $100,000 of term-20 coverage with a monthly premium of $28.42 however, when it comes for renewal premiums jump to $102.45 a month.
Uses of Term Life Insurance: cover short term risk for responsibilities like mortgage, line of credit, or business loan.
Permanent insurance have higher initial premiums than term policies to begin with, however generally it provides a level cost or paid up options and lifetime financial protection. For same example 40-year-old male non-smoker can get $100,000 of 20-pay whole life coverage with Empire Life for $77.10 a month. The premiums are obviously much higher, but rather than the plan renewing in 20 years it is then paid up.
Uses of permanent Life Insurance: cover responsibilities like Funeral expenses, legacy to family, Probate taxes, Capital gain taxes and other Estate fees.

Insulin dependent diabetic individuals can also get life insurance, but needs to be observed that for how long insulin dependent and if the diabetes condition is under control or not and other medical investigation including on organs that could be effected with diabetes.
This is more of a case to case basis, so speaking to one of our senior licensed Insurance broker would be better option as they would be able to suggest better based on individual circumstances.

Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.for example Term- 10, Term-20, Term 30, Term 40 are insurance policies with level or same premiums for 10 years, 20 years, 30 years and 40 years respectively. After that period expires coverage at the previous rate of premiums is no longer available and you must either forgo coverage or potentially obtain further coverage with increased premium payments. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
In simple words term life insurance policy pays a monetary benefit to the named beneficiary if the death of the insured happens during the term of the policy. Term life insurance is the most inexpensive way to insure or cover yourself and protect your family or loved ones against financial hardships in the event of untimely passing away.

First Benefit is low cost - In comparison to other form of insurance such as Whole life or Universal life, Term life insurance policy is the most inexpensive way to insure yourself.
Second benefit - ability to buy higher amount of insurance, since the coverage is not that expensive.
Third Benefit - to cover short term business loans, If you have business loan for short time frame few years and just need a coverage to cover the loan amount in the event of death, term life insurance policy is best.

Universal life insurance is another type of permanent life insurance policy. The primary attraction of the universal life (UL) policy lies with its flexibility. Universal life plans offer the policyowner complete freedom with regard to the amount, frequency, timing, and duration of deposits. The only restrictions are the maximum cash accumulation restrictions of the Income Tax Act and the need to maintain sufficient value within the contract to pay for all insurance costs and other expenses.

Applicants must submit proof that they have purchased Canadian medical insurance that:

1. is valid for a minimum period of one year from the date of entry to Canada;
2. provides a minimum of $100,000 in coverage; and
3. covers the applicant for health care, hospitalization and repatriation.

Applicants for Super Visa must also meet all standard admissibility criteria. There are a number of reasons why applicant can be found inadmissible, denied a visa and refused entry to Canada.

partial Refunds - In case your parents decide to go back sooner than one year, prorated refund available.
Canada is famous for many things and one of them is Winter, not all like to stay here in Winter. In case your parents decide to return in few months, we shall refund you unused premiums or in simple words you only pay for months they stay in Canada.
Note:- Partial refunds are possible, only if there are NO Claim(s) on the policy.
Please refer to policy for requirements to apply for partial refunds.

100% refund - If no Visa Granted.
There are a number of reasons why you can be found inadmissible, denied a visa and refused entry to Canada. We understand that posibility of refusal of visa exists and insurance premiums are high, so we offer plans that would refund 100% incase of visa refusal. Feel free to discuss again with our agent to re-confirm before issue of policy.

This represents the amount of eligible medical expenses that must be paid by the insured before the insurance company begins to reimburse for covered expenses. As an example, if you purchase a plan with a $500 deductible and incur $10,000 of eligible medical expenses, the insurance company will begin to reimburse for expenses after you have paid the first $500 of your medical bills, so in this example Insurance would cover $9,500 of medical bill.

PRE-EXISTING CONDITIONS: HBP - High Blood Pressure.
HBP- Controlled with Pills, no change of dosage and no hospitalization in last 1 year.
STABLE and CONTROLLED - any medical condition for which there has been no new treatment or newly prescribed medication; no change in treatment or change in prescribed medication; no new, more frequent or more severe symptom; no test results showing deterioration; no investigations initiated for symptoms whether or not your diagnosis has been determined; no hospitalization and no referral to a specialist.

Evidence of the family's ability to provide that financial support must be submitted with the application. The ability to support visiting parents or grandparents is based on a minimum necessary income (known as the low income cut-off, or LICO). The chart below is also used to determine an individual's ability to sponsor family members through the Family Class. The minimum necessary income is updated each year on January 1.
Size of Family Unit Minimum necessary income 1 person (the sponsor) $22,637, 2 persons $28,182, 3 persons $34,646, 4 persons $42,065, 5 persons $47,710, 6 persons $53,808, 7 persons $59,907 More than 7 persons, for each additional person, add $6,099.