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Insurance

Income & Family Protection, Greenfeld Financial Management, Delta, BC

Insurance is a crucial element in financial planning and wealth management. Without it, you expose yourself to financial ruin, both for yourself and for your family. In many cases, the expenses incurred due to a workplace injury, travel accident or death of a loved one can be beyond the savings or wealth that you have accumulated.

 

(*Insurance products are provided through iA Private Wealth Insurance Agency which is a trade name of PPI Management Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund. Travel Insurance products provided through multiple carriers. 

Life Insurance (LI)

What is it?
LI provides financial protection to surviving dependents after the death of an insured person.

Who is it for?
If someone you care about depends on your salary, then life insurance coverage  is not an option: it’s essential. If you die prematurely without the proper coverage, your spouse and kids may be left without any means to pay the mortgage or put food on the table.

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LIFE INSURANCE COMPARISON

Term Insurance

  • Temporary insurance for a period of time, anywhere between 10, 20 or even up to 40 years

  • Policy can be renewed when coverage ends at renewable rates

  • Most cost-effective type of insurance​

  • Easy to understand and premiums are usually quite low​
     

Permanent Insurance

  • Three products: Whole life, Universal Life, and Term100

  • Coverage continues for life

  • Typically has an investment component and a cash surrender value

  • Premiums generally pricier than Term insurance

  • Premiums do not increase once approved

  • Great product for estate planning (helps heirs pay capital gains)

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See how Jim and Deb are using life insurance in their '50s
 

Reduce life insurance premiums with Manulife Vitality!

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Disability Insurance (DI)

What is it?
Disability insurance replaces a portion of your income when you can't work because of an illness or disability.

Who is it for?
Important if you are self-employed and if you do not have any type of group benefit plans at your place of employment or simply don’t have enough through the group coverage.

  • Designed to replace a portion of one’s income if you become disabled or sick and are unable to earn an income for an extended period of time.

  • Benefit amounts are calculated by your income earned

  • Insured generally receives approximately 67%

  • Benefit received on a monthly basis may or may not be taxable to the employee

  • Benefit start date and elimination period is flexible

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See how Lucas Benefited from having a DI policy.

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Critical Illness (CI)

What is it?
provides additional coverage for medical emergencies like heart attack, stroke, or cancer.

Who is it for?
If you are not eligible for disability insurance — for instance, a stay-at-home parent who doesn’t have an income to replace OR to help you prepare for the financial hardships that may come with a critical illness diagnosis such as the cost of medical treatment.

  • Policy holder is given a tax-free lump sum of money if they are diagnosed with, and survive (generally at least 30-day survival period) one of the specified list of diseases

  • Insurer may add the other 20 or 21 CI conditions above the standard for adequate coverage

  • Cost for this type of plan can vary depending on age, health factors and any added features they would like to add to the policy

  • Riders can be added to include return of premiums

Emergency Travel Medical (ETM)

What is it?
Emergency travel medical insurance is critical for travelers planning a trip as it financially protects them from unexpected medical emergencies resulting from an accident or sudden illness that may happen prior or during their trip.

Who needs it?
Everyone that travels but does not have adequate ETM through their group plan

  • Variety of plans available, depending on your requirements and the amount of deductible you wish to pay.

  • Sometimes completing a medical questionnaire is required based on your age and type of plan being considered to determine the rate category and the pre-existing condition stability requirement.

  • Plans include Single trip/Multi-trip/Emergency Medical Top-Up/Trip Cancellation/Trip Interruption/All Inclusive/Baggage Loss/Damage

  • Direct Pay is available with some carriers, saving you out of pocket money

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Need a quote? Click here!

Health and Dental Plans for Individuals

What is it?
Health and dental plans cover things like prescriptions, dental care, vision, specialists, and therapists for massage, physiotherapy, and acupuncture.

Who needs it?
If you’re self-employed or your employer doesn't provide Health and Dental coverage.

Health & dental insurance plans can help fill in those gaps in coverage, and all at an affordable cost. They are designed to fit your specific needs with many options and benefits. Simply select the package that offers the benefits best suited for you and the ones you love:
 

  • Association Health & Dental Plan

  • FollowMe Health

  • FlexCare®

  • GI Enhanced

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Need a quote or more info? Click here!

Disability
Critical Illness
Life
Emergency Travel Medical
Health and dental plans
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