Offer financial protection
to your familywith life insurance
Life insurance is an insurance contract that allows you to financially protect your family or spouse in the event of your death.
In fact, the insurance pays capital to the designated beneficiaries or to the estate in the event of the death of the insured. This capital can help provide financial support to your family to cover funeral costs, debts, current bills and future expenses, such as your children’s education or your spouse’s retirement. In addition, it can be used to transmit capital to your heirs while avoiding inheritance tax.
Villeneuve Wealth Management, as an insurance professional, provides you with personalized and informed advice. We will do an in-depth analysis of your situation to determine your real needs and offer you the right product to meet them. Thanks to our expertise and knowledge in the financial field, we will find the life insurance that will adequately protect your family.
When you buy life insurance, you pay regular premiums or one-time premiums to the insurer. In exchange for these payments, the insurer guarantees to pay a fixed amount called capital to the named beneficiaries or estate if you die. Therefore, it is important to choose life insurance that corresponds to your needs, your financial and personal situation. In addition, before purchasing life insurance, you must define the amount of premiums that you will be able to pay each month. These vary according to various criteria such as age, state of health, gender, duration of the contract as well as the type of life insurance.
In Quebec, you can subscribe to three types of life insurance: term life insurance, permanent life insurance and universal life insurance.
Term life insurance provides protection for a specific period, usually 10, 20 or 30 years, determined in the contract. Premiums for term life insurance are much lower than those for permanent life insurance, but increase with age.
Permanent life insurance, also called whole life insurance, provides lifetime protection with fixed premiums. Permanent life insurance can be used for estate planning, as a tax planning tool, and to establish a charitable foundation.
Universal life insurance allows a certain flexibility in the amount and frequency of premiums paid, as well as in the protection period. It is a combination of life insurance and an investment that is used less and less these days.
You should not confuse life insurance and mortgage insurance, as they are two distinct types of insurance. In fact, mortgage insurance will only cover all or part of the balance of the mortgage loan in the event of death or disability of the borrower. It does not constitute financial capital. On the other hand, life insurance will pay the amount provided for in the contract directly to the beneficiary, without tax impact for the beneficiary.
Additionally, the price of mortgage insurance may increase with each renewal depending on your health, age and other factors. There is even a risk that if you
If you decide to change institutions when your mortgage is renewed and there is a change in your state of health, you are no longer insurable.
You should also know that the price of term life insurance and that of mortgage insurance is often comparable. On the other hand, the life insurance premium will be fixed for a specific period and your insurability will never be in jeopardy once you are insured.
Are you hesitating between taking out permanent life insurance and temporary life insurance? At Villeneuve Wealth Management, we will be happy to advise you as best as possible depending on your situation. Indeed, as an independent financial security advisor, our team is able to offer you a wide range of insurance products. We will be happy to meet with you to discuss it. Our office is located in Longueuil, but we have clients throughout Quebec, mainly in the Vaudreuil-Soulanges region, Montreal as well as the entire South Shore of Montreal.
Complete the form below as precisely as possible to determine the approximate amount of life insurance you need. Subsequently, if you wish, one of the financial security advisors from Villeneuve Wealth Management can contact you to explain your different options.
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