Life insurance is an important part of a responsible financial plan, and can provide many benefits.
Life insurance can mean much more than making sure your loved ones are provided for and final expenses are paid. Some policies can cover you as you recover from a critical illness, protect a business, or provide funds you can use or borrow against for major life expenses.
At The Co-operators, we have life insurance products to provide coverage for all the stages of your life.
Benefits of Life Insurance
Covering final and ongoing expenses
Funeral expenses and final taxes resulting from the ownership of high-value assets, like a seasonal property or investment portfolios, can be significant. A properly tailored insurance policy will cover funeral costs, final taxes and other expenses that your family may not be expecting.
Providing for your loved ones
Life insurance policies can provide for your loved ones in the event of your death. You can choose a plan that helps to offset your income so your family or loved one doesn’t have to worry about how to maintain their current standard of living.
Cash value for lifelong expenses
One of the great features of permanent life insurance plans is the potential for building up tax-advantaged cash values in your policy. These values can be used in conjunction with loans as financial instruments to supplement retirement planning, assist with a down payment on a property, start or expand a business, or provide long-term or home care when you retire. This equity in your life insurance policy is a versatile financial asset that you can use in many different ways.
Your local advisor can tell you even more about what you can do with a Co operators life insurance policy.