If you’re like most Canadians, your insurance needs have changed significantly while you have been busy building your career, growing your family and planning your future.
But every now and then, it pays to stop for a moment and review your contingency plans for family, income, assets and quality of life.
Investors Group offers a full suite of life insurance and living benefits products through our partners Canada Life, Great-West Life, Manulife and Sun Life.
There are several options when it comes to life insurance:
- Term insurance – provides protection for a predetermined length of time, usually renewing every 10 or 20 years until its ultimate expiry date at about age 75 or 80.
- Permanent life insurance – designed to remain in force for your entire lifetime, as long as you continue to pay premiums. The most common types are:
- Whole life
- Universal life
Disability insurance pays out periodic income after you have become disabled, due to a medical condition or injury as defined by the policy. We can advise you on a variety of plans, providing options for both coverage and cost.
Critical illness insurance provides a non-taxable lump sum benefit paid should you incur a life-threatening illness as defined by the policy.
Long-term care insurance pays out monthly benefits to use at your own discretion for ongoing nursing, personal care and social services that may be required as a result of a long illness, either within your own home or a long-term care health facility.
Health and dental
A supplemental health plan takes care of expenses beyond your provincial health care coverage. These expenses may include:
- Prescription drugs
- Ambulance services
- Nursing care
- Medical supplies
- Hearing aids
- Eye exams, glasses and contacts
- Dental care
Lifetime Income Benefit
When combined with an Investors Group Guaranteed Investment Fund policy, the Lifetime Income Benefit rider guarantees to pay you income for life. The Lifetime Income Benefit is available in a variety of policy types:
- Registered Retirement Savings Plan (RRSP) or Spousal RRSP
- Registered Retirement Income Fund (RRIF) or Spousal RRIF
- Prescribed Retirement Income Fund (PRIF)
An annuity allows you to invest a single lump sum (single premium) with one of our insurance partners, who in return pay out a regular monthly or annual payment for a specified term, or for your lifetime.
Annuities are available in a variety of types:
- Single life or joint annuity
- Life or term certain
- Registered or non-registered
An employer and their employees can share in the cost of insurance coverage by paying into a fund or pool, under one contract. Group insurance packages may include:
- Life insurance
- Accidental death & dismemberment (AD&D)
- Dependents insurance
- Short-term disability
- Long-term disability
- Extended health care
- Dental care
- Critical illness
- Out-of-country medical coverage
- Employee assistance program (EAP)