Life Insurance Mississauga

Get the best life insurance rates from Canada's largest life insurance companies! Speak to Filip Ambroziak by calling (416) 803-2113 or emailing filipa@pbnet.ca. Term life insurance starts at as little as $25.00 a month for up to $1,000,000 coverage!

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Mississauga Life Insurance

When working with a life insurance advisor, you need to work with the best. Filip Ambroziak has been nominated as a top insurance broker in all of Canada in 2018 by Insurance Business Magazine, was selected as ThreeBestRated’s 2019 top 3 insurance brokers in Mississauga and is currently one of three best insurance brokers in Mississauga according to Insurance Broker Place.

As a Mississauga Life Insurance advisor, the goal is to provide the best coverage for the best price.

 This is done by assessing your current situation, creating the most efficient life insurance package and getting quotes from multiple life insurance companies resulting in a competitive rate. 

For a life insurance quote, contact Filip Ambroziak by calling (416) 803 – 2113, emailing filipa@pbnet.ca or completing the form below. Quotes can take as little as 2 minutes!

How a Mississauga Life Insurance Broker Can Help You!

Keep these three tips in mind when purchasing a life insurance policy.

01

Multiple Companies

As a licensed life insurance broker, I have access to many insurance companies and check the best rates for you.

02

Coverage

Life insurance isn’t just about price, as a broker, my goal is to get the best coverage for your situation.

03

Qualification

As an experienced life insurance broker, I understand how a company qualifies clients and can help you find the right fit.

Mississauga Life Insurance Online.

That’s right, you don’t ever have to leave your home! Quotes, applications and policies all done online through your broker.

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Life Insurance Questions You Should Ask

Here are a few more questions to ask yourself when deciding if its time for life insurance:

Do I have a mortgage? Can I afford mortgage payments without the income of my loved one?

Do I want to create a legacy for my children? Do I own a business? Is my work considered hazardous or high risk?  

If any of those situations apply to you, it may be a good time to look into a life insurance product. You can always start with an inexpensive term insurance policy and upgrade it later as your budget increases. 

If you plan to have a mortgage, family etc. in the future, its a great idea to look into life insurance when you are young. 

You can save a lot of money on the same life insurance product if you start early.

Contact Filip Ambroziak at filipa@pbnet.ca or calling (416) 803 – 2113.



The Right Life Insurance Coverage

Life insurance is a complex topic. There are many advisers and just as many opinions on what coverage is best. In order to make the most informed decision, I would like to simplify the two most popular policies: Term life and whole life insurance. 

Term Life Insurance: The is the most popular of the two policy types. It is a fantastic starter policy because its simple and affordable. The client will first select the sum insured (Ex $1,000,000) and choose the term they would like coverage for (ex 20 years). If the client were to pass away during the term, the sum insured would be paid out to their beneficiary (person/persons selected to receive the amount). 

Term life insurance is ideal for younger families who’s budget for life insurance might be small and have larger overall expenses. If one of the income earners were to pass away, it would leave the surviving family in financial hardship. For young and healthy clients, term life insurance can start at as little as $15.00 a month. Most term policies are both convertible and renewable meaning they can switch it to a whole life policy during the term or renew it for another term at a new price.

Whole Life Insurance: This is the more expensive coverage of the two because as the name implies, its for the clients whole life. The client would select a sum insured (Ex. $150,000) but would not select a term. Instead they select a payment period such as 20 years. Once the client is done paying the 20 years of premiums, the coverage is maintained till end of life. 

Whole life insurance is commonly used as an estate planning tool for more established families with a higher net worth and more assets. Usually the children are no longer completely dependent on the parents and the policy amount can be reduced in order to pass down a guaranteed legacy. Whole life insurance is usually about 10x the price of term life insurance.

If you have any questions or would like to speak to an insurance broker, please call Filip Ambroziak at (416) 803-2113 or email filipa@pbnet.ca.

Do I Need Life Insurance?

In most cases the answer is simple: 

If you have dependants or are self-employed, you should have life insurance. 

Regardless if you are self-employed or employed, if you have dependants, their lives would change drastically without you and your income. Final expenses alone can put a major burden on any family. Small funerals in Canada can start at $15,000.  

Can your family live at their current standard without your income? Does you current employer offer any life insurance coverage? Is it sufficient?  Many employee benefit packages include a small amount of life coverage as part of your benefits package but in many cases, it’s simply not enough.

Are you self-employed with a family? If you were gone, would your spouse and dependants survive on what is left? Will your kids education be covered? 

If you are self-employed, having life insurance should always be in your financial arsenal. 

The real question should be: How much life insurance can I afford?

Life Insurance Pricing

If you are young and healthy, a term life insurance policy can start as little as $15.00 per month. Pricing will vary depending on which coverage you choose and for how many years. As you age, the price does increase.

Term policies are also convertible allowing you to convert them into a permanent policy as your needs change, making them a fantastic start. Permanent policies will be more costly, but they are as the name implies, permanent. A permanent life insurance policy will usually cost about 10x more than a term policy for the same coverage. Example: A $1,000,000 term policy for a healthy, 30 year old female may cost $40.00 per month for a 20 year policy. This policy will expire after 20 years with no coverage left unless renewed (at a much higher rate). A permanent life policy for $1,000,000 may cost $400.00 per month for that same healthy female. 

There are many ways to structure the billing for a life insurance policy. Some policy options such as the “20 Pay” allow you to pay a certain amount for exactly 20 years, after that you are done paying premiums but your policy is guaranteed for life. This is ideal for those who are making a large income but expect it to drop in the future.

The best course of action would be to call a life insurance broker and discuss your options.

Estate Planning With Life Insurance

Most people would like to pass on their possessions to their family in the event of death. In Ontario, upon death, your estate must pay the  Estate Administration Tax, income tax and a capital gains tax to name a few. Once the taxes are settled the remainder is distributed to the beneficiaries. 

Although it sounds complex, the EAT is not as bad as it sounds. In Ontario, it is about 1.5% of the value of your estate. The capital gains tax however, may pack a punch. The tax is calculated by assuming all assets (excluding principal residence) were sold immediately upon death for fair market value. From there, the tax is calculated. 

Check out this Canadian Estate Cost Calculator to get an estimate. The “Total Settlement Costs” (towards the bottom) is your estimate and includes the other fees and expenses owed.

As you can see, the amount can become quite high and more than the average Canadian has on standby. This often forces Canadians to sell off those assets to cover the tax. 

 So what is the solution? Many forward thinking Canadians simply purchase a life insurance policy to cover these costs. 

Since life insurance payouts received by beneficiaries are not taxable income, the life insurance can cover the final expenses and taxes.

Life Insurance Companies

When working with a life insurance broker, one of the biggest advantages is the ability to quote with multiple life insurance companies. Each insurer may offer slightly different benefits and may have different underwriting requirements than another. 

Below you will find some of the largest and most popular life insurance companies in Mississauga as well as all of Canada. 

manulife financial insurance company
canada life insurance company
industrial alliance life insurance company
equitable life insurance quote
wawanesa life insurance quote
ivari life insurance quote
desjardins life insurance quote
empire life insurance quote
la capital life insurance quote
CCP life insurance quote
foresters life insurance quotes