Insurance - GIC Wealth Management

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Insurance

As we get older, it becomes more apparent that there are no certainties in life. Whether it’s an illness, an injury or an unexpected death, individuals and their families are never fully prepared for the emotional and financial implications. Luckily there are many types of insurance products available to help protect you and your loved ones from the uncertainties around us.

Life Insurance:

Although Life insurance is a topic most people do not want to talk about, the fact is, it is a product that we all should have.  Not only can it protect your loved ones, estate and charitable giving, life insurance can also be used as part of a successful investment and retirement strategy. Choosing the right product may seem like a daunting task, but we are here to help narrow down your choices. Whether its term insurance, permanent insurance, or universal life, we can provide you with the right product and company to satisfy your goals.

Guaranteed Issue Life Insurance:

Guaranteed Issue Life Insurance is designed for seniors, the hard-to-ensure and those who do not want to take the time for a medical examination or wait for a doctor’s report. There are a number of options available with this plan. it can be purchased by those 25 to 80 years old.

Benefits range from $1,000 to $75,000

Long Term Care:

Long term Care Insurance has become very popular in the marketplace in recent years. As baby boomers begin to enter retirement, the demographics of the Canadian population are changing. According to Statistics Canada (www.statcan.gc.ca) 21% of the population will be over 65 by 2026. Due to improvements in diet, exercise and education, people are living longer than ever before! People now more than ever are going to have to prepare for their post-retirement lives.

Although pension plans were popular, the workforce has changed considerably as people have become more transient and entrepreneurial. Fewer people can rely on the large company pensions our parents did in the past. We are forced to fund our own retirement through RRSPs, and non-registered savings.

Long Term Care Insurance gives you the choice to receive the care you need in the comfort of your own home, or in a nursing home.

Please contact us for more information on how you can purchase this product. It is readily available to those between 40 and 80 years old.

Critical Illness:

Critical Illness Insurance is designed to provide a lump sum benefit to cover individuals who contract critical illness. It is the insurance proceeds that will help you with financial peace of mind and allow you to focus your efforts on recovery. You may need to make adjustments to your home, supplement your home, and have a fund for home care or rehabilitation.

Plans vary depending on the insurance company, but the most common illnesses covered are: cancer, stroke and heart attack, although most plans also cover more significantly more illnesses.

Travel Insurance:

Travel insurance protects you in case of unexpected medical emergencies and related expenses that may happen while you are travelling outside of your home province or country.

Benefits include:

  • Emergency Medical Insurance: Covers you up to $5,000,000 for expenses as a result of emergency medical attention required during your trip.
  • Trip Cancellation & Interruption Insurance: Available as a single plan or as a Single-Trip All-Inclusive or Multi-Trip All-Inclusive plan, if you are unable to travel or your trip is interrupted due to a covered event.
  • Baggage Loss, Damage & Delay: Available with the Single-Trip or Multi-Trip All-Inclusive Plans. Covers you for loss or damage to your baggage or baggage delay.
  • Flight Accident: Covers you for $50,000 for death or double dismemberment or,  $25,000 for single dismemberment.

Please contact us for more information.