What are the best life insurance policies in Quebec?
Did you know that 22 million Canadians have life insurance?
Do you want to cover your loved ones or your business in the event of death and not leave debts? Life insurance is for you.
Read exclusively our guide to learn all about life insurance and get the best personalized life insurance quotes in Quebec in seconds.
Summary
What is life insurance?
What are the best life insurance policies?
Why take life insurance?
When do i need life insurance?
How does life insurance work?
What are the different life insurance policies?
Should you choose term or permanent life insurance?
How much does life insurance cost?
How to take out life insurance?
Should we choose life insurance as a financial investment?
How does life and estate insurance work?
Who are the beneficiaries of life insurance?
What is the taxation of life insurance?
What's in a life insurance contract?
Should you choose life insurance or critical illness insurance?
Is group life insurance sufficient?
Mortgage loan and life insurance
Can I take out life insurance for someone else?
Can I take out child life insurance?
8 tips for buying life insurance
Our guides to life insurance
What is life insurance?
Life insurance is first and foremost a provident product allowing the insured to provide his or her relatives with a tax-free lump sum payment in the event of death.
It is also a contract that benefits from an attractive tax and rate of return and can therefore also be used as a financial investment. However, that depends on the type of life insurance chosen.
What are the advantages of life insurance? How to subscribe? What are the specifics to know? Everything is explained below.
If you are looking for life insurance outside of Quebec, consult our life insurance comparator for other Canadian provinces.
What are the best life insurance policies?
While most life insurance policies offer common guarantees, the same is not true for the amounts covered and the premiums offered. The exclusions and exceptions of life insurance contracts are also not the same from one insurer to another. You have to be particularly careful about it. To get a personalized life insurance quote tailored to your needs, use our life insurance comparator.
Why take life insurance?
Life insurance is used above all to protect loved ones from financial debts to be assumed in the event of the death of the beneficiary.
The main advantages of life insurance are:
The payment of life insurance is tax-free. If your coverage is $ 250,000, your loved ones will receive $ 250,000;
You can name specific beneficiaries and thus allow them to receive the payment outside the estate, without administrative delay in the event of death;
This payment can allow your loved ones to pay off your debts and pay your funeral expenses, the amount of your mortgages, the balance of your taxes. They can thus keep the assets that you have accumulated during your existence. It therefore allows your loved ones not to inherit financial problems in addition to the pain of losing a loved one and to maintain a lifestyle.
Life insurance has an attractive tax system.
If you are a corporate shareholder, life insurance gives shareholders the right to repurchase shares to protect the capital of the company. In the event of the death of a shareholder, the other shareholders can redeem his shares by paying the sum to the beneficiaries of the life insurance.
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When do i need life insurance?
The answer is: almost all the time. However, certain situations require even more precautions. For example :
your house is mortgaged
people depend on you financially (spouse, children, parents, brothers, sisters etc.)
you are a company shareholder
you have debts etc.
The permanent life insurance contract also makes it possible to invest large sums in investments with attractive returns to finance studies, retirement, etc. and can thus be useful to any far-sighted person.
How does life insurance work?
In this guide, we try to explain to you how life insurance works, what are the different types and what is unique to each type of life insurance. Here is a summary table
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