Life insurance plays an important role in the financial security of your family. Look carefully at the multiple options that apply to you in Quebec for life insurance.
Look for a broker certified by the AMF (Autorité des marchés financiers) to clarify your needs and select the best life insurance in Quebec.
All the broker partners or «Compare Insurances Online » have their certification and were chosen among all elite brokers serving all areas of Quebec. Their rigorous selection depends on their performance, professionalism, and their commitment. Only deserving candidates are retained in our network as life insurance specialists.
Let life insurance experts unravel the formula that best serves your needs.
First, determine the reason why you need to take out life insurance in Quebec and calculate the right amount of insurance needed.
The purpose of your life insurance will guide you in choosing the right amount and type of insurance:
Clarify your goals clearly.
BEFORE YOU CHOOSE YOUR LIFE INSURANCE…
Verify the certification of the company or individual (broker) who is assisting you to see if they are qualified to do so by contacting the Information Centre of the Authority at 1-877-525-0337 or
consult the registry of businesses and individuals licensed to practice available on the website of the Authority.
There are many life insurance options in the province of Quebec.
See which one suits you the most before you start shopping.
As implied, it protects you for a specific period such as 30, 20, 10 or 5 years. Many options are provided to you including the right to convert and guaranteed renewal. The latter gives you the option, regardless of your medical condition, to renew your contract when it expires. An increase in premiums is inevitable, according to the terms of the agreement. As for the right to convert, you can convert your term life insurance to permanent life insurance. Your premiums will no longer increase, but they will still be costly.
Permanent life insurance gives you coverage for the rest of your life and guarantees a sum of money reimbursed if your surrender your policy, a surrender value and the total of the premiums. In canceling the contract, you receive cash based on the cash value. Many life insurance policies are paid after a number of years, for instance, 20 years. You still keep your life insurance as a result and stay covered with reduced premiums disbursed every month.
Universal life insurance in Quebec is not an ideal option for everyone. It gives you the choice in terms of premiums to be paid, with a maximum and a minimum amount. Universal life insurance is used to invest for retirement purposes and in hedge funds of your choice with income that is non-taxable. Get more information and the applicable fees.
Please note that the death benefits received from life insurance are non-taxable.
Will a broker hesitate to look for an alternative policy that better serves your interests?
A life insurance broker has an obligation to furnish you with a form comparing details between your current policy and other insurance products to eliminate ambiguity.
Be informed of the advantages and disadvantages of such substitution.
Is someone persuading you to surrender your life insurance?
The only individual who can guide you is a financial security advisor or a life insurance broker. They analyze your needs and your finances, discuss multiple options with you and inform you about the repercussions that could come about.
Insurance companies offer various favorable solutions such as living benefits or loan against a policy. The repurchase of policies is also offered by specialized companies which are not counted as insurers.
You need to know the possible consequences such as the impact on your future insurability, the medical information required, the effect on your taxes, and the effect of those new choices on your beneficiaries before you make a final decision.
Pay attention. There are ruses and fraudulent tricks intended to make you sign an agreement in anticipation of selling it in return for a large sum. Contact the Authority if you believe you are dealing with such a solicitation or transaction.
There is nothing like a life insurance broker to help you get life insurance.
With the help of a free form to fill out (find it at the top of this page), one of our partners (they are life insurance brokers and insurers) will search for a solution for your needs and make you an offer.
This service does not commit you to anything! You can accept or refuse his offer.
Compare Different Life Insurance offers and select the Best, simply by filling out the from below