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Stewart Financial Services
- Protecting Your Financial Health
Life Insurance
Your need for Life Insurance will vary with your age and responsibilities. The amount of Insurance you buy should depend on the standard of living you wish to assure your dependents. You should consider the amount of assets and sources of income available to your dependents when you pass away. Life Insurance is paid tax-free to the beneficiary and bypasses the estate if a beneficiary other than “Estate” is named.
Having the right Life Insurance protection can mean the difference between leaving loved ones well-positioned financially or leaving behind debts and inadequate financial resources. Life Insurance is paid tax-free to the beneficiary and bypasses the estate if a beneficiary other than “Estate” is named.
A graduation…a marriage…a new child...a new home...a divorce or separation…career change...loss of partner…retirement – so many events in life can change your financial situation and goals. Each of these life events can also change your life insurance needs. Life events like these mean your financial goals may change. Review your financial plan and Life Insurance coverage with Stewart Financial Services to help ensure you are on track.
Life insurance can help create financial security for you and your family. If you should die prematurely, it can be used to:
- Pay final expenses and debts
- Provide an income for your family
- Ensure your family has the resources to maintain a comfortable standard of living
- Leave a legacy through Charitable Giving
While you are still living, some Life Insurance policies can:
- Build tax-advantaged savings you can draw upon as needed for personal or business opportunities.
- Supplement Retirement Income or provide for Long-Term Care or home care for yourself or a family member.
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Thinking about why you need Life Insurance can be an emotional and stressful task. However, Life Insurance is one of the most responsible decisions you can make to help ensure that your spouse, children or other loved ones can continue to enjoy the quality of life they deserve. Contact Stewart Financial Services for more information on how Life Insurance can protect yourself, your family and your business.
Term Life Insurance:
Term Life Insurance is the ideal choice for both temporary and life-time needs of individuals and families. Term Life Insurance can be used to cover a variety of Insurance needs, such as a Mortgage Insurance , personal or Business Continuation Planning or replacement of income after a death, to name just a few. Its real strength is in providing larger amounts of Insurance protection at a lower cost. This can be especially important to a young family with small children where there is a need to provide financial security, at low cost, for the years when the children are financially dependent on their parents.
Whole Life Insurance:
Whole Life Insurance provides permanent, lifetime protection for a level premium. Depending on the plan you buy, Whole Life Insurance spreads the cost of your coverage over the lifetime of the policy or over a limited period of time.
Universal Life Insurance:
Universal Life Insurance is the most flexible Life Insurance available today. You can customize your plan when you buy it, or easily make changes later on. And Universal Life Insurance offers you the opportunity for tax-advantaged investing. This gives you the chance to increase your wealth by investing money within your policy.
Limited/No-Medical Evidence Life Insurance:
Uninsurable? Can't get Life Insurance? It takes more than money to get traditional Life Insurance. It takes health and a healthy lifestyle. If you have experienced a problem getting life insurance due to poor health or other reasons that affect insurability then you may want to consider Limited/No-Medical Evidence Life Insurance protection.
Accidental Life Insurance:
Personal Accidental Life Insurance is a good idea for some people. Another consideration for Accidental Life Insurance is that the younger you are, the more likely you are to die as the result of an accident than any other cause. In fact, injuries excluding adverse events in medical care, are the leading cause of death for Canadians between the ages of 1 and 44 and the fourth leading cause of death for Canadians of all ages*.
•Source: Public Health Canada