Frequently Asked Questions

If anyone would suffer financially as a result of your premature then you need life insurance.

Life insurance payouts (death benefits) are not taxable.

The rule of thumb is 15x your annual income, you can call us for a personalized Insurance Needs Analysis.

Permanent life insurance guarantees a payout either when you die or if you cash in. Term Life Insurance offers coverage for specific periods, typically 10, 20, or 30 years. Once the term ends, the coverage might cease, but there's usually an option to extend or convert to Permanent Life Insurance.

Traditional insurance often requires a lengthy application: medical tests, and doctor reports, often taking 4-6 weeks to issue. It's often cheaper for healthier individuals seeking higher coverage. In contrast, No Medical & Simplified Issue insurance is issued quickly with minimal health queries and no tests, suitable for those wanting lesser coverage or with health concerns.

The Medical Information Bureau (MIB) is a cooperative database, used primarily by life and health insurance companies to share information underwritten by individual insurance applicants. It’s much like a credit bureau for insurance companies. Any applications to any insurer, are seen by other insurers.

Age 25: Around $53 a month for a 20-year term policy for standard non-smoker.

Age 30: Around $54 a month for a 20-year term policy for standard non-smoker.

Age 35: Around $60 a month for a 20-year term policy for standard non-smoker.

Age 40: Around $95 a month for a 20-year term policy for standard non-smoker.

Age 45: Around $155 a month for a 20-year term policy for standard non-smoker.

Age 50: Around $269 a month for a 20-year term policy for standard non-smoker.

Yes, life insurance can generally be canceled at any time, but the process and potential consequences depend on the type of policy.

If you don't pay your insurance premium on time, most policies offer a 30-day grace period during which your coverage remains active. However, if you surpass this grace period, your coverage may lapse. Most some insurers allow policy reinstatement upon payment of overdue premiums but may require that you qualify medically.

No, going direct will have an identical premium. Being an independent insurance broker allows us to compare rates from various companies. We can give you the same quote as an in-house insurance agent, but with the added advantage of instantly comparing multiple options to find the best fit for you.

Yes, you can hold more than one life insurance policy in Canada. Many clients in Vancouver choose to combine term and permanent life insurance to balance affordability and long-term financial protection. Our independent insurance advisors in BC can help you customize the right mix of coverage to meet your family’s financial goals.

Your life insurance premium depends on factors like age, health, lifestyle, occupation, and coverage amount. Non-smokers and healthy individuals often qualify for lower rates. By working with an independent life insurance broker in Vancouver, you can compare multiple providers and secure the best policy at the most competitive price.

It’s recommended to review your life insurance policy every 1–2 years or after major life changes such as marriage, buying a home, or starting a business. Regular policy reviews ensure your insurance coverage remains aligned with your evolving financial plan and family’s needs.