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What is Life Insurance?

A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured’s death.

Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage. It’s important to note that death benefits from all types of life insurance are generally income tax-free.

“The changing nature of money is only one facet of the financial services revolution”. – Scott Cook

Durham Region Financial specializes in insurance and savings plans for individuals, families, and businesses.  I can help you plan against unforeseen life events such as illnesses and how to properly prepare to be financially secure when a loved one passes or gets diagnosed with a critical illness. I also am a firm believer in giving your children a strong foundation to be financially stable from a young age. How to achieve Peace of mind and financial freedom when it comes to your family’s well being is my specialty.

Our Services

Click on the services below to learn more about them.

Critical Illness Insurance

Critical illness insurance is an insurance product in which the insurer is contracted to typically make a tax free lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.

RESPs

A Registered Education Savings Plan, or RESP, is an investment vehicle used by parents to save for their children’s post-secondary education in Canada. The principal advantages of RESPs are the access to the Canada Education Savings Grant (CESG) and a source of tax-deferred income.

Segregated Funds

A Segregated Fund or Seg Fund is a type of investment fund administered by Canadian insurance companies in the form of individual, variable life insurance contracts offering certain guarantees to the policyholder such as reimbursement of capital upon death.

Disability Insurance

Disability insurance is designed to replace a portion of your income if you become disabled and are unable to earn an income. A disability can result from a number of causes, including an injury, a serious illness or a mental health issue. And the duration of a disability can be either short- or long-term.

Long Term Care Insurance

Long term care insurance provides an income-style benefit if you become unable to care for yourself due to aging, an accident, illness or deteriorated mental abilities. The money is for you and your family to use as you wish – you do not need to submit receipts for reimbursement – giving you more control and choice while helping to protect your savings and income..

Get Peace of Mind

Spend your time where it matters most. Being secure financially will help you in the long term.

Companies We Work With

Office: 905.626.5650

Feel free to call or send us a message via email by filling out the form below.