🔹 General Statement of Policy
Purpose of This Policy
This life insurance policy is designed to provide financial protection and peace of mind to individuals and families across Canada.
Its main goal is to ensure that your loved ones are supported financially in the event of your death.
This policy offers a lump-sum tax-free benefit to your chosen beneficiaries, which can help cover living expenses, debts, education costs, funeral expenses, and more.
🔸 Scope of Coverage
Our standard life insurance policy may include the following, depending on the selected plan:
1️⃣ Death Benefit
A fixed amount paid to the beneficiary upon the death of the insured.
The benefit is tax-free and can be used to:
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Cover funeral and burial costs
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Replace lost income
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Pay off mortgages and other debts
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Support your children’s education
2️⃣ Term Life Insurance
Provides coverage for a fixed period (10, 20, or 30 years).
Affordable and ideal for temporary needs like protecting a mortgage or young children.
3️⃣ Whole Life Insurance
Permanent coverage for life.
Includes a cash value component that grows over time.
Premiums are fixed and the policy builds guaranteed savings.
4️⃣ Universal Life Insurance
Permanent coverage with investment options and flexible premiums.
Ideal for those seeking long-term protection and tax-efficient growth.
5️⃣ No Medical Life Insurance
Quick approval without a medical exam.
Suitable for those with pre-existing health conditions or new arrivals in Canada.
🧩 Optional Add-ons (Riders)
You may customize your life insurance plan with additional coverage such as:
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Critical illness insurance
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Disability income protection
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Accidental death and dismemberment (AD&D)
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Children’s term rider
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Premium waiver in case of disability
❌ Exclusions
Standard life insurance policies do not cover:
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Suicide within the first 2 policy years
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Death resulting from criminal activity
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Fraudulent claims or false statements
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Death from participating in war or terrorism
Your official contract will include a complete list of exclusions.
📑 Claims Process
In the event of a claim:
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The beneficiary must complete and submit a death claim form, along with a death certificate.
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Claims must be submitted within the timeframe stated in the policy.
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The insurer will review the claim and notify the beneficiary of the outcome.
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Payment will be made according to the policy’s terms.
⚖️ Governing Law
This life insurance policy is governed by the laws of the province or territory of residence of the insured.
Any legal matters or disputes will be resolved in accordance with local legislation.
📝 Final Notes
This document provides a general summary and does not replace the official insurance contract.
Your specific coverage and conditions will be outlined in your personalized policy documents.
👉 Need help choosing the right plan?
Our licensed advisors are here to help you select a policy that suits your needs, family, and financial goals.
📞 Contact us today for a free quote and protect your loved ones with confidence.
Protect your family. Secure your legacy.
💬 Final Thoughts
Life insurance isn’t about fearing the future — it’s about being ready for it. It’s a gift of love, a sign that you care about your family’s well-being even when you’re no longer around.
👉 Talk to a trusted advisor today. Your family deserves that security.