We all want to live long, happy, and healthy lives; we cherish every birthday wish and milestones celebrated with loved ones. But experience has taught us that everything can change in an instant.
The loss of a loved one is hardest on those they leave behind, and it’s often felt in different ways — there’s grief that some people never fully recover from, financial losses, and in some cases, even liabilities that fall upon the shoulders of those left behind.
Life insurance protects families from the shock and long-term financial burden that the sudden death of a loved one causes.Apply now for guaranteed life insurance
The Basics of Life Insurance
Life insurance protects families from the impact of sudden loss in the form of a tax-free payment. The amount paid out to listed beneficiaries depends on your selected coverage, which is determined based on your age, health, medical history, and lifestyle.
What Does Life Insurance over?Life insurance is an investment in the future of our loved ones; your commitment to your family is to take care of their needs.
The funds from a life insurance policy have helped countless Canadians after the loss of a loved one. Depending on the circumstances surrounding the loss of a loved one and their current financial situation, beneficiaries can use the coverage amount from a life insurance policy to:
- Pay for funeral expenses in the absence of a funeral insurance plan
- Clear remaining debts and prevent the transfer of liability to surrounding family, as well as incurring debt for funeral and immediate day-to-day expenses
- Cover everyday and long-term expenses to compensate for the sudden loss of breadwinner income.
How Much Life Insurance Do You Need?
A life insurance policy shouldn’t be another financial burden to worry about; it’s a minimal, but rewarding long-term investment in the future of your family. Coverage amounts — or the sum insured — may vary for each policyholder depending on their circumstances.
If you are married with kids, your family will require more resources to afford basic needs and sustain their lifestyle, often including mortgage payments, education, and daily expenses. An insurance expert from Oegema Nicholson will walk you through the process of determining the right coverage for your situation and ensure maximum financial cover at the most affordable price.
Information About Pre-Existing Conditions
Reality is, many people begin to think about securing the future of their loved ones when they have a condition that may impact the quality of life, or worse, result in their untimely death.
Oegema Nicholson is committed to providing the right life insurance coverage for every Canadian — even those with pre-existing medical conditions. Our goal is to equip you and your loved ones with a reliable and affordable life insurance policy.
Do you need life insurance?
Many people question whether they truly need the protection that life insurance offers.
It’s common to think that if you have savings and assets stored away, your loved ones won’t need the amount paid out by a life insurance policy — and you, the added expense.
Life insurance is an investment in the future of your family.
Life insurance provides guaranteed protection and ensures that your loved ones won’t bear the burden of unpaid debt, coupled with the loss of income.
Life Insurance from Oegema Nicholson
At Oegema Nicholson, we’re a family — we understand your needs and specific circumstances. Most of all, we know all too well that life can change in an instant.
Why we’re committed to providing families like yours with the right support and protection. Secure the future of your family with a guaranteed and comprehensive life insurance plan.
Types of Life Insurance
Oegema Nicholson provides various types of life insurance, each tailored to your specific needs, budget, and lifestyle. Protecting your loved ones and securing their future starts with selecting the right coverage.
Our insurance experts work with you to identify risk factors, a monthly budget, and a policy that provides ample coverage. With this information, we can craft a custom life insurance policy tailored to your specific circumstances.
Term Life Insurance
Term life insurance is a savvy investment that’s simple and affordable to maintain. Its key advantage is a fixed amount of insurance coverage for a specific period.
In the event of an untimely passing, term life insurance provides your beneficiaries with a tax-free benefit. Whether you simply want a base amount to cover immediate expenses or you want to upgrade to increased coverage at a later time, term life insurance provides customized protection for your changing needs.
Permanent Life Insurance
Permanent life insurance is a smart investment that grows along with your needs and lifestyle.
An early investment provides a key advantage in long-term savings as premiums often remain the same. But that’s not all; your long-term permanent life insurance contributions only have to be paid for a certain period; after a while, coverage is guaranteed — essentially, it’s paid for life.
Participating Life Insurance
Get the life insurance you need — and be rewarded in the process.
Participating life insurance provides policyholders with dividends while guaranteeing premiums for life. These dividends — or occasional rewards — allow you to increase your coverage, reduce annual premiums, or earn interest. These incentives can go a long way in ensuring the maintenance of a current life insurance plan.
Universal Life Insurance
For the utmost flexibility in terms of guaranteed protection and savings, universal life insurance is the right fit.
This coverage provides a guaranteed death benefit for beneficiaries, ensuring reliable financial assistance for families. As well, payments made towards a universal life insurance policy that is above the cost of the insurance itself earn tax-preferred interest.
Insurance for Life from Oegema Nicholson
At Oegema Nicholson, we’re committed to keeping families alive, happy, and healthy; but we At Oegema Nicholson, we’re committed to keeping families alive, happy, and healthy; but we also recognize the need for guaranteed protection in the event of an untimely passing.
At the core of our process is a recognition that every life is important. This is what we seek to protect when we equip our clients with a life insurance policy that’s tailored to their financial circumstances. For this, our guarantee is 24/7 accessible support and a superior claims process.
Just like you, our love language consists of taking care of loved ones and ensuring that their needs are met — even after you’re gone. We operate on a familiar brand of comfort that’s based on preparedness, financial planning, and protecting those who matter most.
For more information on life insurance that’s built for Candian families, call Oegema Nicholson (613) 224-1455 or contact us here.