Insurance secures your family’s financial future. Life is busy and you don’t want to get sidelined by serious illness or be forced to raise a family on your own, without financial means. Prepare for unexpected challenges and feel good knowing you and your family can live your best life without worrying about money.
Three benefits of insurance
Insurance minimizes the financial impact of a serious illness or death. If you have someone who depends on you, such as your spouse, a child, or another family member, insurance secures their lifestyle and financial situation, even if you aren’t able to provide. Customized life insurance and critical illness insurance can:
Understand four types of coverage
- Replace your income if you are no longer able to provide for you or your loved ones.
- Pay off your debts so your family isn’t forced to sell their home or other assets during a difficult time.
- Give your loved ones choices to take time off work, move, or start a new career.
Insurance provides a tax-free lump sum to you or your family, in the event of illness, injury or death, depending on your coverage. Understand the benefits and limits of your coverage to make sure you and your loved ones are protected the way you choose.
- Employment benefits - Your employment benefits may include disability insurance through SISIP Financial and a supplemental death benefit provided by the Canadian Armed Forces (CAF). These benefits are helpful, but often not enough on their own.
- Term Life - Term Life Insurance is an affordable way to ensure your family can replace income, pay debts and care for your loved ones. Cost generally increases with age and tobacco use, and coverage ends at 75.
- Permanent Life – You can use Permanent Life Insurance in addition to Term Life. The cost never increases and you’re covered for your lifetime, a good choice for those who wish to leave a legacy.
- Critical Illness - Critical Illness Insurance can provide a lump sum to cover your personal and medical expenses if you’re diagnosed with cancer, stroke, heart attack, or 22 other specific illnesses.
SISIP policies are specifically designed to meet the unique needs of our military families. Dangerous occupations, war, activities, hobbies or adventure sports aren’t excluded from our policies, and you take your coverage with you when you leave the CAF.
Get in touch with a SISIP advisor to discover affordable and flexible insurance to meet your lifestyle needs.
Give us a call 1-800-267-6681 or book an appointment.
This article is for informational purposes only.