Email us : info@stonewellfinancial.com Call us today : 1-833-645-3858

Life Insurance

What is Life Insurance?

Life insurance is a legal contract between an insurance company and person, where the insurance company obliged to pay beneficiaries a sum of life insurance benefits upon the death of an insured person. Life insurance is the foundation of a sound financial planning and it can help you as you plan for the future of family or business. Choosing a life insurance plan is a very important and complex task and our licensed professional will access your requirements and customize a plan to fit your needs and budget.

Why Do You Need Life Insurance?

Of course, everyone needs life insurance. Death is inevitable to everyone, and life insurance is an essential plan when we do not know When, Where and how death occurs to us.

Bring peace of mind

Protect loved one

Pay off debt

Protect your estate

Types of Life Insurance

You should spend more than enough time to choose right types of life insurance plan. Most people spending time to create wealth creation but not to wealth protection. We are facing of rising inflation, longevity and rapid changing in lifestyle, purchasing life insurance with right types should be considered first step in financial planning.

What is Term Insurance?

Term life insurance, sometimes known as pure life insurance, is a type of life insurance that ensures the payment of a given death benefit if the insured person dies within a certain time period. When the term life insurance policy's term expires, the policyholder has the option of renewing it for another term, converting the policy to permanent coverage, or allowing the policy to lapse.

Benefit of Term Insurance

Most afforable benefit
Temporary protection
Tax-free payout

Is term life insurance right for you?

Term insurance is an effective solution if you are:

Looking for affordability and higher death benefit supplementary of whole life insurance
Looking for temporary protection (for example, to cover a mortgage or business loan, or until your children are finished school)
A business owner who needs key person protection and/or a way to fund buy/sell agreements

When you need Life Insurance

You may want to purchase life insurance in the case of premature passing for a variety of life events.

New to canada

Immigration to Canada can be exiting and facing new challenges. Life insurance will provide you and your family peace of mind in every aspects

Starting Business

Staring your own business or changing to new job? If you die suddenly, it will be financially chaos to your business partner or family

Getting Married

Now you have financially linked each other and may want to create a financial planning for future. Life insurance is one of key elements when it comes to financial planning.

Having a Baby

This might be the best time to purchase life insurance. no more excuses and procrastination

Buying Home

Congratulation! now you have especially important asset which leverage to bank mortgage. more debts? Then you need more life insurances

Estate Planning

Life insurance proceed can be used to pay off liabilities such as final taxes and debts. Your remain family do not have to sell your estates which can preserve the value.

Life insurance is more affordable than you think

Frequently Asked Questions

What is and isn’t covered by life insurance?

It is up to your budget and time of life insurance needs. If you want to give life insurance proceeds to your child then its long term needs then certainly, permanent life insurance will deliver your giving to child. If you want protect your mortgage, child’s educations, business partnership, or until your retirements then Term insurance plan is that you should consider. Remember! Term is for short term needs and Permanent if for long term needs. You will get what’s pay for.

How much life insurance coverage do I need?

There are many formulas or calculation tool available in internet, you will get ideal amount of life insurance amount based on your income, debts, and expenses. Determining coverage amount will be required few things such as your budget, short term or long-term needs, inflations, beneficiary’s lifestyles changing without you, retirement income, your assets, total debts and most importantly willingness to leave money to your family in other word, love. Best way of doing all those are, have a time available with insurance advisor go over with your needs

Which insurance company I should purchase from?

We get these questions very rarely since most people usually recommended by insurance advisor unless you purchase product directly from a specific insurance company’s website. Even if it’s recommended by your insurance advisor you should consider below,

How much does life insurance cost?

It depends on insurance product type; generally shorter-term insurance is the lowest premium than traditional permanent whole life policies. Other than product types, there are many factors affecting the cost of insurance, such as, your age, gender, family health history, occupation risk, lifestyle (driving record, drinking, smoking) your own health history along with current health situation. You should contact insurance advisor to see if you can qualify for life insurance first before you are selecting type of policies.

Can be my life insurance application declined?

Do not forget, purchasing of life insurance is not a right its privileges. This privilege can be taken away due to your health, fraudulent and old ages. You should consider purchasing life insurance when you are young and healthy for future.

how long I should ‘not smoke to qualify as non-smoker rate?

You may be eligible for non-smoker rates if you have been a non-smoker for the last 12 months. This means you no longer smoke, consume, or use cigarettes, cigars, chewing tobacco, nicotine patches, nicotine gum or vaping.

Why Stonewell Financial?

We get paid by insurance company to help you acquire most suitable product based on your needs and budget. We as the broker represent our client’s best interests and our duty is to understand your situation, needs, and requirements due deligently to find best solutions.

Personalized advice

You should consult with us to design the best insurance product for your individual budget.

On-going Relationship

We are here for you all the way to the end this is our value over others.

No favour

Choosing the right plan is quite complicated and it can not be biased by price and name of company all the time.