Insurance
We’re here to serve you.
We stay in touch to make sure you’re properly protected. If your financial situation isn’t where you want it to be, we’ll help guide you back on track. Connect with one of our advisors to see if we’re the right fit for you.
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Life Insurance
Ease the uncertainty and protect your loved ones’ livelihood and future with reliable security, health, and financial coverage.
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Critical Illness Protection
In life’s most unpredictable moments, receive benefits that help protect your family during times of crisis.
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Disability Insurance
Secure income protection in the event of disability or physical limitations that prevent you from working.
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Travel Insurance
Travel with confidence as you explore new experiences around the world.
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Business Protection
Protect your company’s growth and financial stability in the event of business interruption or the need for operational support.
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Mortgage Term Protection
Enjoy peace of mind knowing your home is protected for the full term of your mortgage.
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Home/Condo Owners Insurance & Renters/Tenant Insurance
Coverage that safeguards your space, your belongings, and your peace of mind—whether you own or rent. Want to compare your current coverage and see if you could save?
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Final Expense Insurance
Prepare for final expenses in advance and ease the financial burden on your loved ones during their most difficult time.
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Not sure which of these you actually need? Call 778-878-5742, email ishwinder.chharahhan@mygreatway.ca, or browse the FAQ.
Frequently Asked Questions About Insurance in Canada
What types of insurance should Canadians consider?
Common types include life insurance, health and dental insurance, disability insurance, critical illness insurance, home insurance, tenant insurance, auto insurance, and travel insurance. The right coverage depends on your finances, family situation, assets, debts, and lifestyle.
What is the difference between term life and permanent life insurance?
Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years. Permanent life insurance is designed to provide lifelong coverage as long as required premiums are paid and may also include a cash-value component.
How much life insurance do I need?
There is no single amount that works for everyone. Canadians should consider their mortgage and other debts, income-replacement needs, children’s education, funeral expenses, and future financial obligations.
Is life insurance taxable in Canada?
In most situations, a life insurance death benefit paid directly to a named beneficiary is generally received tax-free. However, taxation can become more complicated when policies include investment or cash-value components.
Can I have more than one life insurance policy?
Yes. Canadians can hold multiple life insurance policies, provided they qualify for the coverage and the total amount is considered reasonable based on their financial circumstances.
Do I need life insurance if I already have coverage through my employer?
Employer coverage can be useful, but it may not provide enough protection and may end when you leave your job. Personal life insurance can provide coverage that is independent of your employer.
What is mortgage life insurance?
Mortgage life insurance is designed to help pay the outstanding mortgage balance if the insured borrower dies. It is different from an individual life insurance policy, where the beneficiary generally decides how the insurance proceeds are used.
