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lmbf | life insurance

Life insurance helps your financial security. Three categories are available depending on your needs and your age.

Term

Protects you for a specified period.

Meet short-term needs. Example:

  • The time your children grow
  • The time your mortgage is repaid
  • You are a business owner with high origination costs
  • Fixed and inexpensive cost for a defined period.
  • Can be renewed at the end of the fixed term. The cost is then adjusted for a further period.
  • Convertible into permanent or universal life insurance.

Permanent

Protects you all your life.

Meet long-term needs. Example:

  • You want to leave a financial legacy to your loved ones
  • You want to ensure your protection against a change in your health
  • Fixed cost for the duration of the contract or payable in full within a specified period of time (eg. 10 or 20 years).

Universal

Protects you all your life and allows you to make investments that accumulate various tax exemptions.

Meet long-term needs. Example:

  • To leave a larger financial legacy when you die
  • You have reached the maximum contribution to your RRSP or TFSA
  • You are in the business field and want to protect the value of your business

Cost varies according to select coverage. You decide the amount you want to save away outside of taxes. This amount is deposited in selected investment options.