life insurance canada quote
Emma’s life insurance, what’s that?
After working with hundreds of moms, we noticed that no life insurance options were adapted to the reality of young families. So we decided to create a special one just for them.
Emma’s life insurance options stand out from other insurance companies with a simplified questionnaire of about 20 questions, many of which include the reality of a pregnant woman, access to chat every day from 9 a.m. to 9 p.m., and one of the best prices on the market.
Emma makes it easy for young parents to obtain their life insurance coverage.
Here’s an example of life insurance protection based on the profile of a healthy, 30-year-old non-smoking woman.
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What is life insurance?
- Life insurance means achieving peace of mind. Concretely, it is a tax-free payment, that is offered to your loved ones as death benefit.
- Having a life insurance policy means offering the promise of financial security to the people who count on you.
How does life insurance work ?
- First, you choose the term of your insurance policy and then the amount of insurance that will be paid as policy's death benefit by the insurance company.
- Then, you pay a monthly or annual insurance premium to be insured. At Emma, we make sure we find the best life insurance for your needs at the best price.
- In the event of your death, the beneficiaries, those you have chosen to cover with your life insurance, will receive the death benefit to protect them against this unfortunate event.
Why take life insurance?
Life insurance is crucial to find financial security and protect your family. It allows you to leave a tax-free payment (death benefit) in the event of your death. Life insurance can also be used to cover a mortgage, cover final expenses, car loan or personal loan.
At Emma, we offer an effective online solution at a lower life insurance cost than most brokers. Of course, it always depends on your insurability, but we are confident we are your best option!
- The difference is that we compare prices quickly to find the best insurance without you having to leave your house.
- The difference is also that we don’t work on commission. We have no advantage in selling you an overly expensive insurance policy that doesn’t suit your needs.
- As for permanent life insurance, it does not expire, and the amount of coverage can vary over time. This type of life insurance is better suited for people with more complicated financial situations or those who have estate planning needs.
Life Insurance with Emma
Here are the 3 easy steps:
- Validate your eligibility: check your eligibility for Emma’s life insurance by answering a few health questions.
- Calculate your needs: calculate the ideal life insurance coverage to protect your family with our smart calculator.
- Get your price: select your insurance coverage and chat with an Emma’s expert to get your life insurance plan.
Emma ranks among the best prices on the market for young parents.
When do I get the death benefit?
Beneficiaries can receive the death benefit after the insured passed away. The first step is to send the supporting documents to the life insurance company so that they can process the application.
How can my family claim the lump sum?
An insurance company must pay out the death benefit within 30 days of receiving information supporting the death of the insured. These supporting documents are:
- Proof of the insured’s death;
- Proof of the insured’s age;
- Proof that the person claiming the insured amount is entitled to it.
What is the capital of a life insurance policy?
Life insurance provides you with protection in the event of death. It takes the form of a contract in which an insurer undertakes to pay you the sum insured, called the death benefit, in exchange for a premium paid monthly or annually.
If you want information about life insurance, Emma is here. You can use our calculator to get the minimum amount of life insurance you need to protect your family and finally, get your life insurance plan.
How can I proceed?
- First, you’ll need some necessary information. The more information we have about your lifestyle and finances, the more accurate our quotes will be. Insurance companies may ask you to provide more specific information. But, for now, you should be able to answer all the questions.
- Then, you need to ask yourself how much life insurance is necessary for you. This will depend on your debts, investments, assets, future expenses that are already planned and any other factors that may affect your finances. Generally, the amount of insurance that would be paid to your family should be an amount representing approximately 10 to 12 times your current salary. This ensures that your loved ones will not be in trouble for many years to come.
- Finally, use Emma's services to purchase life insurance coverage today. Also, we have the option of comparing the different quotes offered by other insurers. We will help you choose the insurance policy that best suits your needs from among all the offers from Quebec’s largest insurance companies.
No matter your situation, our team of dedicated life insurance agents is there to help you find the best solution at the best available price. All you have to do is sign up and participate in our health quiz.
What is the purpose of life insurance?
The purpose of life insurance is to provide financial protection for your loved ones in the event that you die. If you die, the life insurance policy will pay out a predetermined amount of money to your beneficiaries. This money can be used to cover funeral costs, living expenses, and other costs associated with your death.
Term life insurance or whole life insurance ?
- There are two types of life insurance: Term life insurance and whole life insurance These types of life insurance While term life insurance lasts only for a specific period, permanent life insurance will always remain in force as long as the insurance premium is paid.
- Term life insurance policies are less expensive and is simpler to manoeuvre: you pay a monthly or annual premium. Then, in the event of your death, a fixed amount is paid to your loved ones. Unlike permanent life insurance, a term life insurance policy expires after a set period. That "set" period is chose by you and your advisor exactly for your needs. Term insurance is, in most cases, used as mortgage insurance or other temporary debts. Note that most people buy term life insurance because it’s less expensive and simpler.
- On the other hand, whole life insurance does not expire, and the amount of insurance can change over time. The particularity of permanent insurance is that it offers a cash value component that is increasing year after year. This is something to keep in mind when talking to your advisor to find out how much coverage is best suited for your needs.
In general, permanent insurance consists of a small death benefit and is used to cover final expenses or to leave a heritage. It is also often suited for people with more complicated financial situations or estate planning needs.
Note that there are several different types of life insurance within term life insurance and permanent life insurance.
There's also a type of life insurance called Universal Life Insurance, which is a bit more complicated. Universal life insurance is a form of long-term life insurance that covers you for the rest of your life or indefinitely. Because the policy owner may usually increase or decrease their premium payments on an annual basis, universal life plans generally have greater adaptability than whole life insurance.
The significant difference is that, in most cases, a whole life insurance policyholder pays more in premiums than they would with a term policy. As a result, universal life is typically only utilized by the wealthy who already have a good amount of money in their retirement savings, therefore, they have extra money to invest.
There are only a few different types of people who should consider getting a universal life insurance policy. First, people who have a lot of money saved up should consider it because they can afford to pay the higher premiums. Second, people who want more flexibility with their coverage should consider it. Finally, people who are at risk of outliving their funds should also consider it.
What is the average cost of life insurance?
A life insurance policy can provide a large amount of money at a reasonable cost. Yet, according to one study, more than half of people think that term life insurance is more expensive than it is. Find out your life insurance needs and calculate your price.
What influences the price?
Several factors will affect the price of your life insurance premium. Like all types of insurance, life insurance is there to protect you in the event of an unexpected death. The higher your risk of death is, the more insurers will increase your premium. Here are some factors that affect your life insurance premium.
- Policy type
First, the type of policy you choose. There are as many life insurance products as there are unique situations. The product you choose will influence the base price of your insurance policy.
Being healthy is good for you!
Insuring yourself at a young age will cost you less, as you are less likely to die unexpectedly. Every year that you wait to get insurance, the price of your policy will increase by 8 to 10%.
Generally speaking, men will pay more than women to get insurance.
Life insurance, who is it for?
A U.S. Federal Reserve Board report released in 2019 shows that nearly 40% of adults would have trouble paying a $400 contingency amount, and 12% would be unable to pay that amount. The role of life insurance is to protect your loved ones who are affected by your financial situation.
There are many different types of people taking an insurance policy.
As long as they are dependent on you, your children have many expenses. Having Emma insurance is about making sure they are never left alone before they need to be.
- Married couples
Legally married couples also mean choosing to share finances and financial problems in the event of an unexpected death.
Having a home often means having a large mortgage. Since this is the most expensive debt for most people, it’s a good idea to protect yourself with life insurance that will last at least as long as your mortgage.
Student debt leaves loved ones in a quandary. You’re never too young to protect yourself.
- Business owners
Like married couples, being in business is a financial union. Many entrepreneurs have life insurance to ensure that their business will continue, no matter what happens.
Whatever your situation, there is a life insurance product that suits your needs. Even if you don’t think you’ll leave anyone in the lurch in the event of your death, there are ways to make your life insurance benefit a foundation or museum, for example.
Life insurance companies
It is essential to deal with an insurer you trust and who is right for you. Most people will choose the cheapest insurer, but your insurer must meet your needs according to your situation.
At Emma, we are affiliated with all the major insurers in Canada. Therefore, you can choose the best life insurance in Canada with confidence.
To help you choose, we’ve put together a list of insurance companies. You can find life insurance companies such as Sun Life, Manulife, Empire Life, Canada Life Humania, iA Financial Group, iA Excellence, Canada Protection Plan, Desjardins, etc.