Term Life Insurance
Covers: Death (temporary coverage).
Length: Fixed period (10, 20, 30 years, etc.).
Payout: Tax-free lump sum to beneficiaries.
Cost: Lowest cost option, no cash values.
Best for: Temporary needs, mortgage, kids education.
Whole Life Insurance
Covers: Death (lifetime coverage).
Length: Permanent (to age 105+).
Payout: Tax-free lump sum to beneficiaries.
Cost: Medium cost option, with cash values.
Best for: Estate planning, leaving a legacy, long-term wealth protection.
Extra benefit: Paid up additions to grow policy over time.
Universal Life Insurance
Covers: Death (lifetime coverage).
Length: Permanent.
Best for: People who want the ability to control how their policy grows.
Disability Insurance
Covers: Loss of income if you can’t work due to injury or illness.
Pays: Monthly income replacement (usually 60–85% of income).
Best for: Anyone relying on a pay cheque, business owners & self-employed.
Critical Illness Insurance
Covers: Specific major illnesses (cancer, heart attack, stroke, etc.).
Pays: A tax-free lump sum upon diagnosis.
Best for: Protecting savings when health issues hit unexpectedly.
NG Insurance & Financial Services LTD - #1203 - 10088 102 Avenue NW, Edmonton, AB, T5J 2Z1