PROTECT MY FAMILY
Protect the people who depend on you.
Life changes quickly. A mortgage, children, income and everyday expenses can create financial obligations that don’t disappear when something unexpected happens.
Understanding the different types of protection can help you decide what actually makes sense for your family—and what doesn’t.
What are you trying to protect against?
If I die
Life Insurance
Life insurance can provide money to the people you leave behind to help replace income, pay debts, cover a mortgage, fund children’s education or simply give your family more financial breathing room.
Learn about Life Insurance →
If I get seriously ill
Critical Illness Insurance
A serious illness can affect more than your health. Critical illness insurance can provide a lump-sum payment if you are diagnosed with a covered condition and satisfy the policy requirements.
The money can generally be used however you choose.
Learn about Critical Illness Insurance →
If I can’t work
Disability Insurance
Your ability to earn an income may be one of your family’s largest financial assets.
Disability insurance is designed to replace a portion of your income when an illness or injury prevents you from working, subject to the terms of the policy.
Learn about Disability Insurance →
How much life insurance do I actually need?
There isn’t one number that works for everyone.
A useful starting point is to consider:
- Mortgage and other debts
- Income your family would need replaced
- Children’s education
- Final expenses
- Existing savings and investments
- Insurance you already have through work
- How long your family would need financial support
The goal isn’t necessarily to buy the most insurance. It’s to identify the financial gap and decide how you want to cover it.
I already have insurance through work. Is that enough?
Maybe.
Employer benefits can be an important part of your protection, but it’s worth understanding exactly what you have.
Ask yourself:
How much coverage do I have?
Does it continue if I change jobs?
Is my spouse covered?
How much disability income would I actually receive?
What happens to the coverage if I leave my employer?
Before buying additional insurance, understand the protection you already have.
Term vs. permanent life insurance
This is one of the most common questions Canadians have about life insurance.
Term insurance is generally designed to provide a larger amount of coverage for a specific period of time.
Permanent insurance is designed to remain in force for life, provided the required premiums are paid, and certain types can include cash values and estate-planning features.
Neither is automatically better.
The appropriate solution depends on what you’re protecting, how long you need the protection and what you’re trying to accomplish.
Read: Term vs. Permanent Life Insurance →
Not sure where to start?
You don’t need to know which insurance product you need before speaking with us.
Start with the problem:
What happens financially to my family if I die, become seriously ill or can’t work?
We’ll help you understand the gap, review what you already have and explain the available options.
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