The terms “term life insurance,” “permanent life insurance,” “premiums,” and “death benefit” are not well understood. We understand how perplexing life insurance may be, so we’re here to help you understand how life insurance works in Canada, how much it costs, and whether or not you require coverage. Approximately one-third of Canadians do not have...

When purchasing life insurance, you must choose between term and permanent coverage. Term life insurance is the most basic and pure form of insurance, but permanent life insurance comes in a variety of forms, each of which builds account value in a different way. Universal life insurance is a sort of policy that many people...

If you die from a natural cause, an accident, suicide, or murder, life insurance payout to your beneficiaries. In some cases, such as those involving fraud or crime, the insurer may refuse to pay the death benefit. Your beneficiaries have complete discretion over how they utilize the death benefit once it has been issued by...

For some, permanent life insurance coverage is a difficult topic because the cost of insurance rises if the policy must pay out at some point. It also has a component called the policy’s cash value that accumulates funds. This policy serves as both an investment vehicle and a strategy to provide a financial safety net...