Life is Change

There are many reasons Canadian consumers purchase life insurance and just as many for surrendering a policy.

The policy may have been purchased some years ago to maintain your young family’s cost of living expenses or lifestyle in the event of a catastrophe and it may no longer be required or you may be carrying more coverage than you currently need.

You may have purchased the policy to cover existing or projected tax liabilities on RRSPs, real estate or investment gains that haven’t met expectations or been significantly reduced in light of changes in fiscal policy and you may be carrying excess coverage.

You may be eating away at your retirement savings and the original reason for your insurance purchase may no longer exist or be significantly reduced.

Life is about change. Your coverage may no longer reflect your current needs or annual policy premiums may have become a burden.

Coverage may have been purchased to fund a corporate buy-sell agreement, key man or as corporate loan protection. There may have been a change in shareholder structure, the loan may have been paid off or the business is well on its way and the coverage no longer required.

You may be carrying the coverage simply because you purchased it some years ago and can’t bring yourself to let it go having paid all those premiums.

Regardless of the reason we understand the personal nature of this decision and give it the time and attention it deserves.

Learn about your options