Life Insurance

During 2011, about 83,600 individual life insurance policies were purchased in Alberta. The average size of new individual life insurance policies was $390,900, compared with $301,500 in all of Canada.”

- CLHIA, 2012

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