A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death.
Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole life and universal life, provides lifetime coverage. It's important to note that death benefits from all types of life insurance are generally tax-free.
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Disability insurance can help protect you and your family from an unexpected illness or accident that leaves you unable to work and earn an income.
Generally, disability insurance replaces between 60% to 85% of your regular income, up to a maximum amount, for a specified period of time.
If you're self-employed, you can also get disability insurance that will cover many of your business expenses if you're unable to work.
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Critical illness insurance is a form of health insurance that provides a lump-sum payment should you become diagnosed of Cancer, Stroke, Heart Attack, Surgical Bypass or other covered illnesses.
Critical Illness insurance benefits can be spend as you wish (medical or non-medical purposes) at the time you need to recover.
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Emergency Medical Travel Insurance can help you cover medical expenses you might incur while travelling outside of your home province or country.
Out-of-Province or Out-of-Country medical attention can be extremely costly. Having Emergency Medical Travel Insurance coverage may protect you from the high cost of these medical bills in the event that the unexpected happens.
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ACM & Associates offer numerous investment and savings opportunities in Segregated Funds. Whether you are looking for a RRSP (Registered Retirement Savings Plan), TFSA (Tax Free Savings Account), RESP (Registered Education Savings Plan), LIRA (Locked In Retirement Account) or Non-Registered Savings Plan , we can help you get started. It is never too early to begin saving.
Statistics show that more Canadians are spending their hard-earned income on debt, rather than savings for their future.
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