Personal Insurance Toronto, ON – Pamper Yourself, You Deserve It

Personal Life Insurance

Life Insurance is a legal contract between you and a life insurance company. The contract outlines how much money will be paid to your beneficiaries upon your death, how long the insurance will cover you, and the cost of your premium which is the amount of money you will pay every month to get the insurance.

Personal life Insurance protects the financial security of your beneficiaries by paying them a tax free, cash benefit upon your death.

Term Life Insurance is temporary and covers you in case of death for a specified period of time. It pays a tax free cash benefit to your beneficiary. Term Life Insurance provides coverage for one person or you can purchase Joint Term Life Insurance to cover two people who share a joint risk. It offers the lowest initial cost and does offer some degree of flexibility so that you can adjust your insurance as your needs change.

Term Life Insurance Policies may be renewable without providing proof of health; however the cost of the premiums will increase so that they are appropriate to your age at the time of renewal.

Permanent Life Insurance provides coverage for as long as you live and pays a tax free cash benefit to your beneficiaries. The premiums can be guaranteed for life which means that the premiums will not increase as you age and/or if your health changes. Some Permanent Life Insurance plans allow you to pay for a limited number of years although you will be covered for life.

At TSG we have Advisors who can find you the right Group Life Insurance Policy to suit your employees needs. Contact one of our advisors today by phone for a quote or

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to chat with them live online now!”

Critical Illness

Critical Illness Insurance provides a one-time lump sum benefit should you be diagnosed by a qualified physician or specialist with one of the illnesses covered by your policy, and you survive. Critical Illness Insurance coverage varies greatly from policy to policy and the term of the policy may also vary with some policies covering you to age 65, age 75, or for life. All applications are subject to a satisfactory statement of health, and the insurer may request that certain tests are performed.

Critical Illness Insurance policies may offer you the option of insurance for the three most commonly claimed critical illnesses, Heart Attack, Cancer, and Stroke. Depending on the insurer and the plan, up to 25 medical conditions may be covered. There are absolutely no restrictions on how you use the money. You can use it for anything that you choose including medical care, paramedical care, out-of-country treatment, alternative treatment, paying monthly bills, home renovations, adapting your vehicle, or taking a vacation.

At TSG we have Advisors who can find you the right Group Life Insurance Policy to suit your employees needs. Contact one of our advisors today by phone for a quote or chat with them live online now!”

Long Term Care

Long Term Care Insurance, will help to offset the expenses that are incurred as a result of long-term care either at home or in a long-term care facility. A long term care plan will pay you tax free benefits as long as you cannot perform any two of the basic necessary activities of daily living – eating, bathing, dressing, using the toilet, or transferring positions (in and out of a bed or chair).

There are two types of Long Term Care Insurance Policies. One plan reimburses you for eligible expenses you receive on a given day, up to a pre-set maximum. The other type of plan is referred to as income-style. It is extremely flexible and provides you with an income benefit to cover any type of service that you require from any source including family members.

Disability

Disability Insurance replaces a portion of your income should you become unable to work and earn an income as a result of injury or illness. It is not income replacement. Disability Insurance is designed to protect you from possible loss of income and is available for a wide range of working people – business owners, professionals, full-time workers, part-time workers, and home-based workers.

How your Disability Insurance policy defines a disability will vary from policy to policy. It can be described as being:

Unable to perform the duties of your usual job
Unable to work at any job for which you are qualified by education, training, or experience
Unable to work at any job at all

Some Disability Insurance policies will cover you for disabilities as a result of accident or illness while others will cover you for disabilities as a result of accident, but not illness. It is important to make an informed decision on what type of Disability Insurance will best meet your needs.