Beneva: Life, Critical Illness and Disability Insurance for CanadiansFounded Date: 2023
  • Term Insurance
    Permanent Insurance
    Universal Insurance
    Critical Illness Insurance
    Disability Insurance

LICAT Ratio 2023
141%
Financial Rating: A

Beneva insuranceNavigating the intricate world of life insurance can be daunting, but Beneva is here to simplify the process and provide you with the coverage you need to protect your loved ones.

As a leading provider of life insurance solutions in Canada, Beneva offers diverse products tailored to meet the unique needs of individuals, families, and businesses.

They were formerly known as SSQ (founded in 1944) and La Capitale Life Insurance (founded in 1940). On January 1, 2023, La Capitale Civil Service Insurer Inc. and SSQ, Life Insurance Company Inc. joined forces to become Beneva Inc.

Exploring the Beneva Life Insurance Advantage

Beneva's life insurance offerings are designed to provide you with the flexibility and security you deserve. Whether you're looking for term life insurance, permanent life insurance, or a combination of both, Life Insurance Solutions has the expertise and online services to guide you through the decision-making process and buy life insurance for yourself or a loved one.

What is Term Life Insurance? Affordable Life Insurance Rates

Term life insurance is often a popular choice for those seeking cost-effective insurance premiums for a specific period, such as the duration of a mortgage or the years when dependent children are still at home.

Beneva's term life insurance policies offer a range of benefits, including:

  • Flexible term life insurance coverage: To match your evolving needs, choose from 10, 15, 20, 25, 30, or even 40-year terms.
  • Fixed premiums: Your premiums remain the same throughout the initial term, allowing you to budget confidently.
  • Convertibility: If your circumstances change, you can easily convert your term life insurance policy to a permanent life insurance plan without needing a medical exam.
  • Decreasing or fixed coverage: You can opt for decreasing coverage as your financial obligations diminish or maintain a fixed level of protection for the duration of the policy.

Permanent Life Insurance: Lifelong Security and Savings

Beneva's permanent life insurance solutions are an excellent choice for those seeking long-term protection; unlike term life insurance, permanent whole life insurance can potentially gain tax-sheltered savings.

These permanent life insurance policies provide coverage for your entire life, with features such as:

  • Consistent premiums: Your premiums will not increase over time, ensuring predictability in your financial planning.
  • Cash value life insurance: A portion of your premiums is allocated to a cash value account, which can be accessed for additional income or to supplement your retirement.
  • Flexible payment options: Tailor your premium payments to suit your budget, with the option to pay for a specific number of years or throughout your lifetime.
  • Guaranteed inheritance: Your beneficiaries will receive the total insured amount, regardless of when your permanent life insurance policy matures.

Universal Life Insurance: Blending Insurance and Investments

Beneva's universal life insurance plans are similar to their permanent ones and offer a unique combination of life insurance protection and tax-sheltered investment opportunities.

This versatile solution allows you to:

  • Adjust your coverage as needed: Increase or decrease your death benefit to accommodate changes in your life.
  • Contribute additional funds: Allocate a portion of your premiums to a savings component, which can grow on a tax-deferred basis.
  • Customize your investment options: Choose from various investment accounts, including segregated and equity index funds, to align with your risk tolerance and financial goals.
  • Protect your children: Universal life insurance provides additional coverage, including guaranteed insurability and critical illness protection.

Enhancing Your Coverage with Supplementary Options

Beneva understands that your insurance needs may extend beyond the core life insurance products. That's why they offer a range of supplementary coverage options to provide you with comprehensive protection:

Critical Illness Insurance

If you are diagnosed with a covered critical illness, such as cancer, heart attack, or stroke, Beneva's critical illness insurance provides a tax-free lump-sum payment. This financial cushion can help you focus on your recovery without worrying about the financial implications.

Disability Insurance

Protecting your most valuable asset – your ability to earn an income – is crucial. Beneva's disability insurance offers flexible coverage options, providing a monthly benefit to help you maintain your lifestyle and financial obligations in case of a disabling illness or injury.

Children's Insurance

Beneva's children's insurance bundles various coverages into a single policy, including life insurance, critical illness, and fracture protection. This comprehensive solution ensures your family is prepared for unexpected health challenges with your children.

Loan and Mortgage Insurance

Beneva's loan and mortgage insurance solutions integrate the advantages of term life insurance with additional benefits that traditional lending institutions often cannot match.

This individual insurance coverage can provide peace of mind and financial security for your outstanding debts.

Tailored Advice and Exceptional Service

Life Insurance Solutions offers Beneva insurance and investment products, including annuities, registered and non-registered assets, RRSP, TFSA segregated funds, and savings plans. The client experience is at the heart of everything we do.

Our online services and team of knowledgeable and experienced advisors are dedicated to guiding you through the complexities of life insurance cost evaluation and financial information gathering, ensuring you make informed decisions that align with your unique needs and goals.

Personalized Recommendations

Our advisors take the time to understand your circumstances, including your financial situation, family dynamics, and long-term goals. We then leverage our expertise to recommend the most suitable insurance solutions tailored to your requirements and financial budget.

Life Insurance Quotes and Ongoing Support

Our team streamlines the application process, providing comparison quotes on coverage amount, guidance and support to ensure a smooth and efficient experience.

Once your policy is in place, we remain available to address any questions or concerns, ensuring you feel confident and secure in your insurance coverage.

Online Life Insurance Digital Tools and Client Centre

Beneva's online services platform and mobile app offer a range of convenient features, from managing your term life insurance, permanent life insurance or universal life insurance policy to accessing helpful resources and calculators.

These digital tools empower you to stay informed and engaged with your insurance plan, enhancing your overall experience.

call todayCall Today!
Speak with one of our friendly and knowledgeable advisors.
Phone: 613-817-4822

Conclusion

As you navigate the complexities of life, Beneva and Life Insurance Solutions are committed to being your trusted partner, providing the coverage and guidance you need to protect your loved ones and secure your financial future.

By combining flexible individual insurance solutions, personalized advice, and exceptional service, Beneva and Life Insurance Solutions are positioned to help you achieve the peace of mind you deserve.

Explore Beneva's comprehensive life insurance Canada offerings and discover how we can tailor a plan that aligns with your unique needs.

Take the first step towards a future filled with confidence and financial security. Contact us today for a no-pressure consultation.

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