Life Insurance

Protect Your Loved Ones

No one wants to think about his or her own mortality. But, if you have loved ones depending on you for financial support, you should consider the impact if you were to pass away suddenly. Life insurance is designed to help soften the financial blow to your dependents if the unthinkable happens.

Life insurance coverage comes in two main types: Term and permanent. Term insurance is used to meet immediate expenses like short-term debt obligations. Permanent insurance on the other hand, is intended to provide for long-term needs and final expenses.

Affordable Coverage To Offset Income Loss

Term insurance only provides protection for an established period of time or until a certain age. If you die within this period, your beneficiaries receives the insurance proceeds. However, if at the end of the term you are still alive, the policy terminates and the protection ceases. Some term policies may offer renewable and convertible options, allowing you to convert to a permanent policy or to renew your term policy for a specified period of time.

Term insurance is generally priced so that it is more affordable while you are younger and is best suited for families with young children as a way to meet their ongoing financial obligations. It's an ideal way to offset the risk of a family losing one of its key income earners.

A Range Of Insurance Solutions

We can work with you to determine how much insurance you need and which type of insurance is best suited to your needs. Together with Canada's leading insurance providers, we can find a term policy that works for you.

Finding What's Best For You

Determining which type of insurance you need is not always easy. Contact your CIBC Wood Gundy Investment Advisor, who can introduce you to a qualified Estate Planning Specialist (Financial Security Advisor in Quebec). To find out how we can help you, use our Find An Advisor tool to locate a CIBC Wood Gundy Investment Advisor near you.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.

Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc.