There are many things that we can do for ourselves that can and will make a difference in our lives. Some of these things can make our lives easier, more comfortable and even better. However, there are few things that can protect the ones we care about from facing potentially life-changing decisions. Life insurance, critical illness insurance, disability insurance and personal health and/or dental insurance are four things that you can purchase that will make a difference in your life or in the life of someone you care about.

Life Insurance is the most essential product because it helps our loved ones to not have to worry about how they will be able to pay the bills in our absence should we pass away. If you are young or old, single or in a relationship, with children or not, life insurance helps those we leave behind not worry about how to pay for the mortgage, rent, debts or funeral so that our loved ones do not have to make any rushed and potentially life-altering decisions.

Critical Illness Insurance helps you to pay the bills by replacing your income should you not be able to work due to illness. This will provide a lump sum of money to help you pay your expenses for a period of time while you recover, pay for renovations if you need to make your home accessible or provide for lost income while you wait for other income streams to start so that you do not need to rely on your personal or retirement savings.

Disability Insurance is one such stream of income that you can buy that is designed to provide you with up to two thirds of your regular income tax free should you become disabled due to injury or illness. This insurance will provide you with the money that you need to help pay the bills if you cannot work. This is very important if you do not have disability insurance as part of your work benefits plan or if you need more insurance if the maximum allowed through your benefits package is less than two thirds of your income.

Health and Dental Insurance is a policy that helps you to pay for many of the costs that OHIP will not cover such as bi-annual visits to the eye doctor for an examination and the portion of the cost of a new pair of glasses if needed; semi-annual visits to the dentist for cleanings and checkups; essential dental surgeries and procedures; timely filling and renewal of prescriptions; weekly or bi-weekly sessions with a non-medical mental health care professional or scheduled visits to a chiropractor, massage, speech or physiotherapist. If you are a student, self-employed or working for an organization without or with a limited employee benefits plan, you can buy an individual, couple or a family health and dental insurance plan to help you to cover these costs. If you are recently unemployed, you can purchase a plan that can cover you until you start your next job and benefits plan. It is also possible to buy either a health or a dental plan.

I would be happy to discuss your current situation with you at your convenience.

Doug Knox

Life Insurance Broker