Life Insurance is designed to provide income due to loss of life, disability or living to long.  It also functions as a means to protect your assets, create an estate and help you save for the future.  It is a critical part of ensuring your financial well-being.

With most forms of insurance, you the applicant are charged a premium.  For this premium, you would receive a certain dollar amount of insurance protection, depending on the policy’s coverage.  Life insurance premiums are based on such criteria as your health and age, as well as amount and length of coverage.

You can buy insurance directly through an insurance company or through a broker, like myself, who may shop the insurance marketplace on behalf of the customer. 

Each insurance policy is unique in its request and structure.  It will depend on the insurer, the terms and the conditions demanded.  The following are basic types of insurance available at Newton Financial.

Term Life Insurance - Is usually inexpensive and covers a short-term need.  One would use this to cover their Mortgage, Personal/Business Loans or to help with debts, taxes and/or final expenses.

Universal Life Insurance – This is the combination of term insurance and investment.  Premiums do not increase with age unless the sum insured increases, while being able to invest in a tax-deferred policy and increase your death benefit.

Critical Illness Insurance - Is intended to provide financial assistance for medical costs or time off work to people diagnosed with certain medical conditions such as cancer, stroke or a heart attack.  However, it must be purchased before the perspective client is diagnosed with any of the above-mentioned illnesses.  Benefits are given tax-free.

Disability Insurance - In the event you can’t work due to a short or long-term illness or injury or a permanent disability, this insurance provides you with a source of income.

Group Insurance – Provides coverage for a group of people under one master contract. The contract is arranged between the insurer and the employer.

*Additional Products and information concerning Life Insurance Products available through Newton Financial.  Please email info(at)newtonfinancial.ca with any questions!