Tax-free Living Benefit Protection
The Canada Benefit Plan Tax-free Living Benefit Protection is focused on maximizing living benefits and providing tax-free payments to replace your income in the event of the unexpected.
We work with the top life insurance companies in Canada to bring you a host of protection plans that are well suited for planning for the unexpected and receiving tax-free benefits.
Tax-free Living Benefit Protection is a crucial step of a sound financial plan as it helps to protect your goals and take care of your loved ones if something should happen to you. But the value of tax-free, living benefit insurance goes beyond risk protection. It can be an asset — and offer other financial benefits — throughout your life.
Tax-free Living Benefit Protection Features and Funding:
- Coverage amounts available for ages 18 to 65 up to $50,000
- Instant approval, most coverages issued in 24 to 48 hours
- No denials due to health conditions or previous history
- Receive 2 tax-free payments up to $50,000
- Pay reduced premium after your first claim
- No Medical Exams & No Needles
Eligibility:
- Must be between the ages of 18 to 65
- Must have a valid government-issued photo ID
With Canada Benefit Plan’s Tax-free Living Benefit Coverage, you get the return of the premium which you paid throughout the term of your insurance – gaining a valuable lifeline of capital if and when you need it.
In addition to its living benefits, you will find the tax-free living benefit we offer to be valuable in many other scenarios for providing for your spouse, family, and other dependents.
Take the next step to understand your Canada life insurance options and determine the best course for your individual circumstances and needs.
Get instant life insurance quotes right now.
With Canada Benefit Plan’s Tax-free Living Benefit Coverage, you get the return of the premium which you paid throughout the term of your insurance – gaining a valuable lifeline of capital if and when you need it.
In addition to its living benefits, you will find the tax-free living benefit we offer to be valuable in many other scenarios for providing for your spouse, family, and other dependents.
Take the next step to understand your Canada life insurance options and determine the best course for your individual circumstances and needs.
Get instant life insurance quotes right now.
CALCULATE YOUR BENEFIT AMOUNT
Life Insurance Needs Calculator | Canada Benefit Plan
An easy-to-use calculator to help determine your insurance needs.
Step 1- My debts and final expenses?
The first step is to determine your liabilities (mortgage, loans) and final expenses (funeral costs, tax bills and final medical bills)
Step 2- My family's financial needs?
This step is to consider how much income your family would need and for (how many years) in case of your unexpected death. You are financially worth for your family as your family is depending on your income and financial decisions
Step 3- Are my parents dependent on me?
In this step, you should consider your parents if they are relying on you for basic needs and how they will continue to meet those needs if you are not there.
Step 4 - My favorite charity?
This step is the opportunity to continue to taking care of your favorite charity after your death. What is a better gift than charity?
Step 5- How much are my assets worth?
This final step is to help you evaluate your financial position and add up your total debts (mortgage, loans etc.), final expenses (funeral costs, tax bills, medical bills etc.) family’s financial needs (family income needs for the desired number of years, family emergency need, children education costs, child-care expenses etc.) Dependent parents’ financial needs (parent support, parents funeral cost etc.) charity (lumpsum donations) and subtract all this from your total assets to calculate your life insurance needs.
-RESULT SUMMARY-
| Mortgage | $ {{quantity}}.00 |
| Debts | $ {{price1}}.00 |
| Expected final expenses | $ {{price2}}.00 |
| Current Annual Income | $ {{price3}}.00 |
| Family's income after death | $ {{price4}}.00 |
| Years of income needed | {{price5}} Year/s |
| Emergency funds for family | $ {{price6}}.00 |
| Expected childeren education cost | $ {{price7}}.00 |
| Expected child care expenses | $ {{price8}}.00 |
| Amount for parents after death | $ {{price9}}.00 |
| Parents funeral cost | $ {{price10}}.00 |
| Would like to donate | $ {{price11}}.00 |
| Savings | $ {{price12}}.00 |
| Real Estate Assets | $ {{price13}}.00 |
| How much my other assets worth? | $ {{price14}}.00 |
My life insurance need is : $ {{quantity + price1 + price2 + price4* price5 + price6 + price7 + price8 + price9 + price10 + price11 | number:'1.0':'en-US'}}
The Amount of Life Insurance I Need Is:
$ 0.00
$ {{quantity + price1 + price2 + price4* price5 + price6 + price7 + price8 + price9 + price10 + price11 | number:'1.0':'en-US'}}
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