Unbiased insurance planning advice.

Meeting your Insurance Needs

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We can help you choose insurance to reduce financial risk to you and your family. We provide you with unbiased insurance planning advice to help you make life’s important financial decisions. We’ll strive for your satisfaction throughout the life of your insurance policy.

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What is life insurance?

Life insurance provides whomever you choose with a one-time, tax-free payment when you die, as long as you continue to pay your premiums.

There are different types of life insurance, and different ways to make it work for you. It’s not only to  protect your family. It can also be part of your financial plan, so you may be able to access money in your policy while you’re alive.

Types of Life Insurance:

Term Life Insurance

What is Term Life?

Term life is temporary life insurance that lasts for a specific period of time (or term). The most common term lengths are 10 and 20 years, but policies can be issued for term lengths from one year to 40 years, or to a specific age, such as 65 or 100.

Uses of Term Insurance?

  • Income protection: provide your loved ones with a death benefit payout that can help to replace your income if you die
  • Mortgage protection: a death benefit can help your surviving spouse pay down the mortgage, or invest the proceeds and continue regular mortgage payments
  • Debt protection: a term policy can help to reduce or eliminate any outstanding debts at the time of your death, such as credit cards, car loans, or lines of credit
  • Education protection: when a parent passes away, the surviving parent may not be able to save enough to pay for their children’s education. Life insurance can provide a payout that can help ensure that your kids will be able to go to postsecondary school
  • Business protection: term life policies can help business owners protect against the expenses that can arise if an owner passes away

Permanent Life Insurance

What is permanent life insurance?

It’s guaranteed lifelong coverage that protects the people you care about. But it’s more than just insurance. Over time your policy can build value you can access for cash during your life, with certain tax implications.

You can access money in your policy through a loan or a withdrawal. And when you die, the people you’ve chosen receive a tax-free payment, similar to term life insurance.

Two Types of Permanent coverage

  • Whole Life Insurance: combines permanent life insurance with a tax-advantaged accumulation component. It’s built on a foundation of guaranteed values, including guarantees on basic premium, death benefit and basic cash value.
  • Universal Life Insurance: provides permanent life insurance with a tax-advantaged investment component. As your cash values accumulate, you can use it to pay the cost of insurance or, depending on the option you select, to increase the total death benefit. This type of policy is generally non-participating and is attractive for people who want to actively manage their life insurance policy.
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Types of Living Benefits

Disability Insurance

Your ability to earn an income is likely your most valuable asset. A disability insurance policy may help ensure you can meet your daily financial needs if you’re unable to work.

Did you know:

  • One in three people, on average, will be disabled for 90 days or longer at least once before age 65 1
  • The average length of a disability that lasts over 90 days is 2.9 years. 1

We can provide disability coverage that’s designed to help address your needs and protect your ability to earn an income.

1 CIA 86-92 Aggregate Table & 1985 Commissioner’s Disability Table A (Experience Table)

Critical Illness Insurance

No one plans to get sick, but when something unexpected happens, you can help yourself and your family by being financially prepared.

Critical illness insurance is designed to help financially support patients before, during and after treatment by providing a lump-sum benefit when a critical illness, as defined by the policy, is diagnosed, and you satisfy the waiting period.

Consider some of the potential uses for the funds from a critical illness insurance policy:

  • Modifications to your home
  • Private nursing or domestic help
  • Timely treatment outside Canada
  • Additional staff to run your business
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What is the difference?

Everyone is different – some travel infrequently, for long durations, or frequently throughout the year. Depending on your travel tendencies can help determine what plans best suit your needs – it may even help you save money!

So what is the difference?

Single Trip

Single trip plans are purchased on a trip by trip basis.  You need to purchase a new policy for each trip that you go on.  This needs to be purchased every time you leave your province.  This type of policy is good for ones that travel infrequently or for a long duration at a time.


These plans are best for travelers that frequently are on shorter duration trips throughout the year.  These plans allow you to purchase your travel medical insurance policy on an annual basis, giving you coverage for an unlimited number of trips over a full year.  These plans can be designed with flexibility to allow a certain number of days per trip.

Other options you say?

There are other options you can add or purchase as standalone. The other most common parts to a travel insurance plan are:

  • Trip Interruption: covers you if during your trip you need to head back home for various reasons.
  • Trip cancellation: if prior to your departure you need to cancel your trip due to various reasons.
  • Baggage Insurance: covers you up to a specific amount for any lost or stolen luggage during your trip.
  • Rental Car Protection: can ensure a vehicle the rental vehicle is protected if damaged or you are in an accident while on your vacation.
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As Canadians, we’re fortunate to have one of the best healthcare systems in the world, but government healthcare coverage may not provide all you need.

You may be left to pay for expenses such as:

  • Prescription drugs
  • Dental visits
  • Eye exams
  • Paramedic services
  • Ambulance transport

Enhanced healthcare plans can help protect you against these and other unexpected health and dental expenses.

Meeting your Needs

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The information on this website is intended for residents of Ontario only.

* The use of e-mail is not a secure medium and personal information should be transmitted by more secure means.

Insurance products, including segregated fund policies are offered through Monahan Financial Planning Group Ltd., and Sean Monahan, Andrew Horodziejczyk, Brandon Bazinet and Deanne Wells-Hunt offer mutual funds through Quadrus Investment Services Ltd. Legal, Copyright and Trademark information.

Freedom 55 Financial and design are trademarks of Canada Life Insurance Company.

Click here to view legal, copyright and trademark information.

Quadrus, Quadrus and design, Quadrus Investment Services Ltd. and design, Quadrus Group of Funds are trademarks of Quadrus Investment Services Ltd. used with permission..