Living Benefits insurance is a unique kind of insurance. It pays the benefit to you while you’re alive. This is different from life insurance as it pays the benefit to your beneficiary after your death.

There are generally four types of Living Benefits available:

• Critical Illness insurance
• A revolutionary new concept in personal Financial Protection that pays a Living Benefit of up to $2,000,000 in cash directly to you upon diagnosis and survival of a covered critical illness.
• Disability insurance
• If you become disabled, your ability to earn income may be compromised, and your ability to pay bills or save for retirement may decline. Disability insurance plans are designed to help you meet your income requirements so you can concentrate on recovering from your disability and returning to an active life.
• Long Term Care insurance
• We all plan on being healthy throughout our lifetime, but sometimes getting older can prevent us from doing things that we now take for granted. Part of planning for your golden years means considering the possibility that you’ll need long-term care.
• Private Health Care plans
• If you are one of the millions of Canadians without an employee health plan, and therefore, vulnerable to health care expenses not covered by your Government Health Insurance Plan, then private health care coverage could be right for you.