Buying Life Insurance as parents

Buying Life Insurance as parents

Being a parent is actually the happiest thing that can happen to us.  They are a bundle of joy and as they grow, life becomes increasingly wonderful. Interestingly, the act of parenthood is all about responsibility and hence comes with a lot of demands. As parents, we wish to do all that we can that is the best and sustainable for the child’s bright future.

So the question is: where does Life Insurance come in?  As we know, Life Insurance provides a lump sum benefit to our family for our loved ones in the event of death of the person insured. If something was to happen to the parent and the child is dependent (wholly or partially) on the parent, then important plans for a bright future of the child can get disrupted. One sees that kids have to stop their pursuit of education or a sport due to the availability of funds. In case of life insurance, upon the death of one parent, the life insurance pays out to the family a sum insured which could benefit kids’ education needs and their development.

We at are experts in explaining the the various types of insurances that could protect the entire family. Please feel free to contact us at or at 1 416 509 2540. Please visit us for a no obligation quote or advice.


Term Life Insurance

is an extremely cost effective way to insurance yourself when your temporary ( or time bound) needs for insurance are high. During the years when we are raising our kids, have big loans to pay and also building our assets, term insurance could be a great fit.The cost of insurance ( or the premiums) are constant for the duration of the term. Policies are renewable and convertible.


Permanent Life Insurance

 is essentially a coverage that is lifelong. It runs through our life assuring a payout upon death. The cost of insurance can be level or YRT and the payout is tax free. Its main purpose is :

  • To protect family or business from financial hardship whenever death was to occur,
  • Insure children,
  • Inter-generational wealth transfer or sharing,
  • Provide for debt and tax repayment on death,
  • Enhance and protect estate
  • Fund charitable giving


Universal Life Insurance one of the best things that could happen in the world of Life Insurance. UL policy is when a permanent life insurance is merged with the possibility to have several investment options.

Your policy provides a lifelong coverage and at the same time you can save money within the policy to create tax-sheltered savings…

UL Policy ….an excellent way to build wealth that could actually become tax-free for your family. There are several options that could be customised for an individual.



Combining your term and permanent insurance: both are important.

People often wonder what is better, Term or Permanent Insurance. Both have their advantages and disadvantages. However, both have a significant role in our world of protecting our family, assets, incomes, family etc etc. Therefore, it could be a good idea to take a combination of Term and Permanent Insurance. It can be bought together in one policy , thus there could be some savings on policy fees and in premiums. It is a Think Smart approach to buying Life Insurance. ( Read More and watch a video)


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