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Insurance companies use the application process to get to know your health and lifestyle factors so they can assess the financial risk to insure you.
A return of premium (ROP) rider on critical illness insurance allows you to receive a refund of premiums if you don’t make a claim during the policy term, providing a sense of financial security. It adds flexibility to your coverage by offering refunds upon expiry, death, or cancellation. However, the added rider significantly increases the policy cost, often by 30-50%.
Your coverage through work might not be as extensive as you hoped. Check out the facts on life insurance through group benefits.
A life insurance death benefit is tax-free, but other aspects of your policy may cause tax implications.
Our ratings and reviews of the Best Whole Life Insurance Companies in Canada help you make the right choice for your family.
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