Life is unpredictable. No one wants to leave their family with financial stress or burdens if they were to pass away suddenly.
Life Insurance Advice
With proper financial planning, your family’s needs will be taken care of for years to come. A life insurance policy will protect your family and beneficiaries, and ensure they maintain their current standard of living no matter what happens. So, you don’t have to worry about whether your mortgage will be paid or if your children’s education will be funded if you pass away.
Life Insurance Policies
Life insurance is an essential part of any investment management plan. And, financial planning with an insurance adviser is key. There are many life insurance options available, and each one is customized to suit your unique needs and life situation. Applestock & Associates offers clients financial planning, insurance policies, and investment management solutions. We offer the following life insurance options:
- Term Insurance (1, 5, 10, 20, and 30-year premium period)
- Universal Life Insurance
- Whole Life Insurance
- Mortgage Insurance
- Health Benefits (Dental, Prescription drugs, eye glasses, etc.)
- Critical Illness Benefits
- Buy and Sell Agreements
Temporary Coverage vs. Permanent Coverage
Your life insurance needs will change throughout the years. For example, the life insurance policy you require as a young parent and new homeowner might be totally different when you retire. As you pay down debt and your liabilities lessen so too should your insurance coverage. An individual who has no debt and their net worth is high might not need the insurance coverage they once had.
A financial adviser will review your investment management options with you during each life stage— making changes to your policy when necessary. Depending on your needs, there are two types of life insurance options: temporary coverage or permanent coverage. Which option is best for you? A financial adviser will help you decide.
Temporary Coverage & Term Insurance: An affordable option
- Gives you coverage for a specific period of time
- Provides a guaranteed death benefit
- Is less expensive than permanent life insurance
- Policy costs, or premiums, remain the same each year
- Once expired, the price to buy a new policy will increase
- Permanent Coverage
Permanent Life Insurance: A way to save money
- Gives you coverage for life (the policy never expires)
- Provides a guaranteed death benefit
- Part of your premium is invested each year in a savings account
- Policy owners can borrow funds or, in some cases, withdraw money from the policy
- Your investment will grow on a tax-deferred basis annually
- A more expensive option than term insurance
- Includes both whole life and universal life insurance
Mortgage insurance will pay the outstanding balance of your mortgage should you become terminally ill, have a major accident or die unexpectedly— up to a specified maximum amount. Ensure your spouse and children can remain in the family home no matter what happens.
Critical Illness Insurance
Receive a lump-sum payment should you become seriously ill. You can use this money for medical expenses, to pay off your mortgage and other debts, or fund a leave of absence so you can focus on your recovery. You decide how to spend the money. Illnesses must be covered under the policy guidelines (and you must meet other policy conditions).
Buy and Sell Agreements
Wondering how your death could affect your small business? A buy and sell agreement will protect your business, its co-owners, shareholders, and your heirs should you pass away or become disabled. It’s a “will” for your business. A contract, agreed upon and signed by all parties, will ensure that your business runs smoothly even after your death.
Applestock & Associates has over 15 years experience offering life insurance advice to clients. Our investment advice service is highly valued, appreciated, and trusted. We’ll help you protect your family, heirs, business, and ensure you’re taken care of if you become seriously ill or pass away. We’ll also ensure your current medical expenses are covered with health care insurance.
Seek insurance advice from a financial adviser you can trust. Contact us today.
Applestock & Associates is located in Markham, ON. We service clients in Toronto, Scarborough, Etobicoke, East York, North York, Richmond Hill, Aurora, Newmarket, Vaughan, Maple, Woodbridge, Markham, Pickering, Whitby, Ajax, Mississauga, Brampton, Hamilton, Oakville, and Milton. We also make house calls to individuals who cannot get to us.
Mutual funds provided through FundEX Investments Inc.