01/22/2022
What's the difference between life insurance and living benefits?
While life insurance protects your family when you pass away, living benefits offer protection while you are still alive. Life insurance pays out a lump sum to your beneficiaries in the case of your premature death. The idea is that the death benefit should be sufficient to replace future income loss, as well as cover expenses and obligations outstanding such as funeral costs, medical expenses, and other debts—or to fund college savings accounts or retirement years. This gives the family financial continuity so they do not struggle, despite the loss of you and your wage-earning capacity.
Supplemental health insurance, on the other hand, helps pay for medical expenses such as unpaid medications, child care, parking, transportation costs, medical appliances (casts, wheelchair, crutches, etc.), hospital stays (private, semi-private rooms), mortgage/rent, etc. This helps ensure that indivualds can focus on getting better without the added stress of paying for bills.
With Combined Insurance, we can protect you and your family in both aspects, life and health.
I am currently giving out FREE financial needs assessments to anyone who is either a labourer, self employed, retired or employee looking to increase their wage protection benefits.
If you are interested, please direct message me and we can set up a time for me to show you what we have to offer 😊