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Personal Insurance
 

Sound Wealth Management offers a wide variety of personal insurance products and services from a broad network of insurance providers to provide a tailored solution for your needs. Choose the product that is right for you from the list below and contact your advisor for more information on how to purchase these products.

Life Insurance

What is it?
A form of insurance on the life of a person.  If the person dies then the insurance policy pays out a sum of money to the policyholder's beneficiary.(such as a person's family)

Why do I need it?
It’s not always certain what life will bring.  Life insurance provides peace of mind knowing that you, your loved ones and your business are protected from whatever life throws at you.  A good life insurance policy will allow your family to have the money to meet their financial obligations and fulfill their potential in the event you or your spouse were to die. 

How much Life Insurance is enough?
As you go through life, your needs constantly change.  Similarly, so do your life insurance requirements depending on what stage of life you are in when you are shopping for a policy.
There are several different types of life insurance to cover a person for reasons such as income replacement, final expenses, mortgage and debt or to leave an inheritance for loved ones.

If you would like to determine what kind of insurance you need, contact an advisor today or fill out our needs analysssis form to help start the process!

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Mortgage Insurance

A policy that provides protection for the lender in case of default and/or which guarantees repayment of the loan if the borrower becomes disabled or dies.

Insuring your mortgage through an insurance company rather than a bank allows you to control the policy, the beneficiary and type of policy and benefits you want.  It also allows you more choices and flexibility on amount of coverage, provides stability, allows you to shop for better interest rates, and is fully portable if you move; things that a bank doesn’t offer.

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Travel Insurance

Insurance designed to pay for certain unexpected costs that may arise when you are travelling, such as emergency hospital/medical costs, trip cancellation, lost baggage and accidental death insurance.

We provide travel insurance for the following:

Snowbirds English French
Visitor to Canada English French
Going on vacation English French
Student travelling for school English French

You can purchase online by clicking an option above

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Critical Illness Insurance

A living benefit product that provides a lump-sum cash payment on the diagnosis of one of several contractually specified critical illnesses or events such as cancer, stroke, heart attack and 21 other illnesses from loss of independence to organ transplants.

You or someone you know may be suffering from a critical illness.  There are immediate financial consequences when you suffer from a critical illness: 

  • Absence from work
  • Costs for home care during a period of illness and recovery
  • Treatment outside of Canada or other medical costs not necessarily covered under the provincial healthcare plan
  • Children’s Education
  • Early Retirement
  • Trial Drugs
  • Vacation with Family or other expenses

Critical Illness Insurance is available from age 18 to 65 and benefits range from $25,000 to $2,000,000. 
Click here for our CI Calculator to determine the amount that is right for you.

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Accidental Death & Dismemberment (ADD)

Insurance policy that provides payment if the insured's death is the result of an accident, or if the insured accidentally severs a limb above the wrist or ankle joints, or totally and irreversibly loses his or her eyesight.

Few people who have Accidental Death and Dismemberment Insurance (AD&D) actually understand the importance of this plan. It often appears as a tag-a-long to life insurance. However, it can prove useful to many people who may have never considered it before.

AD&D pays a benefit if the insured person dies due to an accident (as opposed to a disease like heart disease). If the plan is paired with Life Insurance, the benefit it pays is in addition to the Life Insurance benefit in the case of an accidental death. The exact amount and any exceptions are listed in your Certificate of Insurance or Certificate Booklet.

What is the difference between life insurance and AD&D?
But what if you have an accident, and the doctors manage to save your life at the cost of a limb or other essential part?  Life insurance only pays your beneficiary if you die. AD&D pays the insured for certain disabling accidents. Losing the use of your eyes because of an accident, for example, would change your life drastically. The insurance still pays a lump sum depending on your loss.
A Sound Wealth Advisor can help find the right plan for you. They will explain all the details of the plan so that when you purchase the insurance, the coverage is enough to meet your needs.  It will do you no good to discover once you have a disabling accident that your insurance wasn't sufficient.

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Disability & Accident Only Insurance

A form of insurance coverage that provides a portion of monthly income as the result of a total or partial disability caused by either an accident, injury or illness that causes you to be unable to work, or conduct your daily activities.

We have Accident and Disability protection plans for every person with every type of need from those running a business, raising a family, full time and part time employees and students, as well as those retired.  Our plans are available from age 5 to 80 and provide you 24 hour a day coverage anywhere in the world should an accident happen.

Applying for coverage is simple, no medical tests are required to qualify and we offer affordable premiums with reduced rates for employees with W.S.I..B

Click here for our DI Calculator that will help you determine the amount of coverage you will need.

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Long Term Care Insurance

Insurance designed to provide coverage for necessary medical or personal long term care services provided outside of a hospital setting, such as in a nursing home or in the insured’s home.

Long term care may include:

  • nursing care
  • rehabilitation and therapy
  • personal care (help with activities of daily living like dressing, eating and bathing)
  • homemaking services (meal preparation, cleaning, laundry)
  • supervision by another person

Care may be provided in the home, in the community (e.g. Adult Day Centres), or in a facility that provides long term care.
There are 2 types of long term care insurance policies:

  1. One reimburses you for eligible expenses you receive on a given day, up to a pre-set maximum.
  2. The other type of long term care insurance is the income-style plan, which is more flexible. It offers the income when you require the care, without having to prove you had expenses.  With an income style plan, you can use the income benefit to cover any type of service, including care received from family members.

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Health & Dental Insurance

Insurance designed to pay a portion of the costs associated with expenses of specific health and dental care for both individuals and families who don't have group benefits.

The plan is one of the most affordable ways to protect yourself and your family against the ongoing and unexpected cost of healthcare expenses, offering coverage for dental, prescription, and eyewear not fully covered by your provincial health insurance plan or group benefit plan.

Do you need Health & Dental Insurance for yourself or your family?
Apply Now!

Have you recently retired or been terminated?
If you were a member of a group plan within the last 60 days and require health & dental coverage, you can apply for an individual Health & Dental plan with no medical underwriting required. 
Apply Now!

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Body Works Program

If you own a salon or spa or work as a hairdresser, esthetician, or are another type of beauty industry professional, we have a special program designed just for you!  

Below you will find details on the Bodyworks Individual Health & Dental plan, along with the rates and an application to get you started today!

Coverage Available
Special Rates
Application Form

Feel free to Contact an Advisor for more information. 

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