INDIVIDUAL INSURANCE

At Gryphon, we believe your greatest treasures are your family, your health, and your ability to earn a living. And we believe these treasures should be protected.

“They are very receptive to calls for questions or for clarification. We always know that we can call them and they’ll be there for us.”

Business owner

Life insurance is one of the building blocks of a solid financial plan. Historically, when tragedy struck, it was common practice for the community to help the affected family through financial contributions or other assistance. Today, thanks to centuries of collected data and accurate mortality tables, life insurance is an effective way to mitigate risk and protect loved ones from financial distress.

There are several categories of life insurance products available including:

• Term Life

• Whole Life

• Universal Life

• Term-to-100

Gryphon Benefits & Insurance Inc. provides a thorough analysis of an individual’s circumstances and this will dictate the amount and the type of life insurance required.

Situations that require life insurance protection include:

• Buy-Sell Funding

• Key Person Coverage

• Estate Planning

• Mortgage Insurance

“They appreciate the type of work that we do and understand our needs well.”

Senior executive

“On average, one in three people will be disabled for three months or more before the age of 65, with the average length of that disability being 2.9 years.”—Stats Can, Participation and Activity Limitation Survey 2006

Why play Russian roulette with disability?

A disability is possibly the greatest financial threat facing an individual, but unfortunately, many people continue to be unaware of the danger. We insure our homes, cars, diamond rings, and other assets against theft or loss. And yet, many of us fail to protect the one asset that provides these material goods: our ability to earn a living.

A loss arising from a total disability can have grave financial consequences, often more devastating than death itself. When a disability occurs, there are two main problems: not only does the individual lose income, but he or she is also faced with new medical costs. Unfortunately, day-to-day expenses continue; mortgages must be paid, credit card payments continue, and groceries need to be bought.

At Gryphon Benefits & Insurance, our goal is to protect your ability to earn a living. We provide expert guidance to choose from a wide array of disability products including:
• Individual & Group Disability Contracts
• Business Overhead Insurance
• Key-Person Disability Coverage
• Disability Buy-Sell Insurance

“Gryphon always has solutions for my problems or ideas as to how we can improve things.”

HR Manager

“82% of people will survive their first heart attack.”—Canadian Heart and Stroke Foundation

Dr. Marius Barnard pioneered the concept of critical illness insurance in South Africa in 1980. Barnard saw a need for a living benefit payment for individuals who survived a major illness, but were unable to work and had high medical expenses.

Critical illness insurance provides a lump-sum payout upon diagnosis and survival of a covered critical condition. The proceeds are paid tax-free and can be used in any manner desired. The lists of covered conditions are continually evolving, but the most common critical illness claims are from cancer, heart attack, heart surgery and stroke. The statistics facing Canadians are not reassuring.

Consider the following:

• In Canada, one nine in women will be stricken by breast cancer during their lifetime

• Based on current incidence rates, 40% of women and 45% of men will develop cancer during their lifetimes

• One in four Canadians will suffer heart disease during their lifetime

• 60% of strokes cause long-term disability

Sources: Canadian Cancer Society, Heart and Stroke Foundation of Canada

Luckily, with medical advances, many Canadians are surviving these once-fatal illnesses. However, this requires them to overcome a new obstacle: post-illness debt. A critical illness can quickly wipe out years of savings, and can create an ongoing financial burden.

Odds are, you will survive a critical illness. Will your finances do the same?

Take the financial stress out of your recovery and contact Gryphon Benefits & Insurance Inc. today.