Safeguarding their future?
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Safeguarding their future?
We’ll get you there.
There are plenty of things in life you can’t control, but when it comes to providing financial protection for your loved ones should the unthinkable happen, you can be in the driver’s seat.
At VCU Financial, we work with 17 of Canada’s largest insurance companies to ensure our clients have options when it comes to choosing policies. We’re passionate about providing affordable, straightforward insurance solutions to help our clients protect their loved ones.
Take the first step. Learn more about your insurance options.
There are plenty of things in life you can’t control, but when it comes to providing financial protection for your loved ones should the unthinkable happen, you can be in the driver’s seat.
At VCU Financial, we work with 17 of Canada’s largest insurance companies to ensure our clients have options when it comes to choosing policies. We’re passionate about providing affordable, straightforward insurance solutions to help our clients protect their loved ones.
Take the first step. Learn more about your insurance options.
Life insurance
No matter what stage you’re at, life insurance is a vital financial safety net. It guarantees that if something were to happen to you, your loved ones would be financially protected. It provides peace of mind and helps you to leave a lasting legacy of security and financial independence. At VCU Financial we offer the following categories of life insurance:
Term life insurance
Term life insurance is straightforward coverage that provides protection for a specific period – five, ten, 15, 20 or 30 years – or until age 65. At the end of the term, the policy renews and the annual premium increases to reflect the current age of the insured. If you pass away during the policy term, your beneficiaries receive a payout, known as the death benefit. Generally, term insurance is an affordable option that’s suitable for covering temporary needs, like paying off a mortgage or covering specific expenses, such as funeral costs.
Whole life insurance
Whole life insurance offers lifetime coverage with set premiums and a guaranteed death benefit for your loved ones when you pass away. It also includes a cash value component that grows tax-deferred over time. Your whole life insurance policy has a cash value that can be used to borrow against or withdraw. It provides permanent protection and can be an essential part of estate planning and leaving a legacy for your family.
Universal life insurance
Universal life insurance is more flexible, offering both a death benefit and a savings component. You can adjust the death benefit and premium payments to suit your changing needs. Part of your premium goes towards the insurance coverage, while the rest is invested, potentially growing over time. This type of policy allows you to accumulate cash value, which you can use to supplement retirement income or cover future premiums.
When it comes to life insurance, there’s a lot to consider and the stakes are high.
Talk to an insurance advisor at VCU Financial today.
Other insurance options
Disability insurance
Once you’ve addressed your life insurance needs, the next risk management tool, in order of importance, is disability insurance. Imagine if you got sick or injured and you weren’t able to work. How long would it take before you couldn’t make ends meet? Six months? Six weeks? That’s where disability insurance comes in. If you’re unable to work for health reasons, it covers a portion of your income – typically paying about 65%, or what your take-home pay might be after taxes – until you’re well enough to return to work.
While many employers offer disability coverage as part of their group benefits plan, it’s important to review this coverage and ensure it offers the financial protection you need.
Critical illness insurance
If you’re diagnosed with a critical illness, your immediate challenge is recovery. The next concern is financial – how will your health affect your ability to work and make ends meet?
Critical illness insurance provides a lump sum payment upon diagnosis of a condition covered through the policy. Benefits are paid directly to you and can be used in any way you want, leaving you to focus on recovery without worrying about money matters.
Long-term care insurance
Long-term care insurance is designed to cover the cost of professional daily care required as the result of an accident, illness or aging. Whether you live at home or in a long-term care facility, you can use these benefits to pay for daily care that you’re no longer able to provide for yourself.
VCU Financial provides a range of options for disability, critical illness and long-term care insurance.
Talk to an insurance advisor at VCU Financial today.
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