Losing a loved one can often mean major financial changes for your family. Permanent Life Insurance helps prevents this situation and allows your loved ones to maintain their current standard of living.
Plan your future…
Permanent Life Insurance is part of a comprehensive financial planning that gives you a discipline to set money aside. In a way, it is like your retirement contribution – you will reap tomorrow the sacrifices you make today.
… and protect your loved ones
Permanent Life Insurance provides peace of mind – by knowing that the people you care about the most are protected no matter what happens. Indeed, your insurance will remain in effect throughout your life.
Because each situation is unique, Soummam Prevévoyance’s financial advisors are here to guide you towards the life insurance product that will meet your needs and ensure your peace of mind and that of your family.
Temporary Life Insurance is a cost-efficient option to protect your family’s future.
Insurance for 10, 20 or 30 years, or until 65
As its name indicates, Temporary Life Insurance will only cover you for the period stated in the policy, often for a period of 10, 20 or 30 years, or even until you reach 65. Premiums will remain fixed for the entire term.
This temporary protection is primarily used to cover debts or loss of revenue, or to protect your family, which will receive a lump sum to maintain their lifestyle following an untimely death.
At the end of the term, you can easily renew your policy with no medical exam, up until your 80th birthday. Your premiums, however, will increase at renewal, since the older you get, the higher the insurance risk is.
You will also be able to convert your Temporary Life Insurance into a Permanent or Universal Life Insurance at any time, if you wish to do so.
Because each situation is unique, Soummam Prevévoyance’s financial advisors are here to guide you towards the life insurance product that will meet your needs and ensure your peace of mind and that of your family.
Universal Life Insurance is one of the most flexible life insurance products on the market. It combine “protection” and “savings”, enabling you to create an investment portfolio that fits your risk tolerance and whose growth is tax-deferred.
More than insurance – a savings product
It is a financial solution with a lifetime guarantee that will give you peace of mind throughout your life and will allow you to protect your loved ones. It is also a particularly attractive planning tool offering a wide range of tax-deferred investment options.
Life Insurance can be a valuable investment tool for individuals who have maxed out their RRSP.
You choose the death benefit to be paid to your beneficiaries. Payments exceeding the cost of insurance will be used to build savings sheltered from tax.
For business owners, this insurance product also provides an interesting tax benefit.
If you are interested in purchasing Universal Life Insurance, you should talk to a financial security advisor. They will review your needs, investment profile, and current resources to create a realistic action plan that takes into account short-, mid- and long-term economic outlooks.
Because each situation is unique, Soummam Prevévoyance’s financial advisors are here to guide you towards the life insurance product that will meet your needs and ensure your peace of mind and that of your family.