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ATTENTION - Until further notice, Hubbard Insurance Group will be working remotely from home offices. We will all be available through regular avenues of phone and email; however, we are eliminating in person meetings.

 


Individual Life Insurance

WELL ADVISED, WELL PROTECTEDTM.

Life Insurance - providing the benefits of protecting your family in the event of your death, paying off mortgages, debts, or other related expenses.

(905 696-9090)

Marriage, mortgage, children are all reasons to have a financial security plan. Hubbard Insurance Group help individuals and families like you plan for this security.

We pride ourselves on developing a relationship with you so we know what you need and can anticipate some areas of planning you may not have thought of. We have the expertise, experience and the resources to make this a simple process. We can offer a wide variety of insurance and investment products for you.

Life Insurance benefits will vary depending on the type of coverage and protection you are looking for. There are a variety of options to select based on your individual needs. A life insurance policy can provide the benefits of protecting your family in the event of your death, to pay off mortgages, debts, or other related expenses.

The two most important attributes of life insurance you need to understand are the premium and the death benefit.

The death benefit is the amount that will be paid be paid out to your beneficiaries when you die.

The premium how much are you paying monthly for the insurance. This is the ‘cost’ of the insurance and the attribute that varies the most in life insurance policies. Insurance premiums are based on the concept of risk, the higher the risk means the higher the claim amount and that dictates a higher premiums. With life insurance the primary risk factors are age and health status. Therefore the younger and healthier you are when you sign up for life insurance the less costly it will be.

Types of Life Insurance

Term Life Insurance

Term life insurance is an affordable option for those looking for temporary insurance for specific concerns, such as providing income to survivors so that they may maintain their standard of living, cover mortgage payments or stay home with young children. Insurance companies smooth out the premium costs (and increases as you age) over periods of time or ‘terms’. Terms can be 10 year term, 20 year term, 30 year term. Rather than increase your premium each year as you age, they charge you the average premium over the term.

Permanent Life Insurance

Permanent life insurance levels your premiums over your life. There are two types of Permanent Life Insurance.

1. Whole Life Insurance

As the premium is level over your life, in the early years your premiums are actually far higher than the company’s costs. This additional premium is saved up and placed on “reserve” inside your policy. These “reserved” premiums build up and are then used to manage the additional cost of life insurance at the later ages. This is a “pay more now to pay less later” concept.

If you cancel your policy, the insurance company will actually refund you a percentage of that reserve as they will no longer need it to pay the later costs since you just cancelled. This refund of your overpayment of premium is called a cash surrender value or cash value.

Whole life insurance policies build equity similarly to purchasing a home with a monthly mortgage. It can be used as part of estate planning. Most whole life policies have fixed rates, which make them a great choice for those who like to plan their budgets with fixed costs.

2. Universal Life Insurance

For maximum flexibility and lifelong financial protection, Universal Life insurance gives you all the benefits of permanent life insurance with added investment options. Any premiums paid above the insurance costs are placed into an investment account. The amounts are variable and defined by you. This allows you to decide how much over the total premiums you wish to make as contributions into the investment component of the policy.

Those investments should increase and grow over time, however they are not guaranteed as they follow the trends of any investment. For example a stock market crash can cause a decrease in your investments of your universal life insurance policies.

What is the best type of life insurance? Well that depends on you! We at Hubbard Insurance Group are able to review all these areas of your insurance portfolio. We build a relationship with you to learn your needs, wants and goals so we can work with you in protecting the areas of your life and lifestyle.

Contact one of our Benefits Specialists today and let’s get working with you! Email us at better@hubbardinsurance.com or call 905.696.9090 where you’ll be “Well Advised. Well ProtectedTM.”

Alternatively fill out the Get a Quote form and we will contact you as soon as possible. 

Other Insurance Coverage to Consider

AUTO INSURANCE

Buckle Up Safely Knowing You Are Protected.

Learn more

PROPERTY INSURANCE

Protection for your home and personal belongings.

Learn more

Health & Dental Insurance

Significant unexpected healthcare and dental care expenses can be covered relieving the burden from you and your family.

Learn more
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Recently, I had the misfortune of having my car stolen, along with many personal belongings inside. I wanted to thank your team for all the help and support throughout my ordeal. I was so relieved to have you guys on "my side" and working with me during the claims process.
-Brent K.
Just a quick note to express our gratitude to you and your staff on a job well done. It is nice to know that when the chips are down we can count on your company to back us up.
-Robert E., Ontor Ltd.
Not only did they put me back on track with a very competitive rate for both my cars, both my boats and my home, she was able to undo the damage the other broker had managed to do in record time.
My heartfelt thanks to Hubbard Insurance Brokers!
-Doug D.
As you know, we have had our business & personal insurance through your office for over 10 years. I just thought you would like to hear that we have been extremely pleased with the work yourself and your team have done for us.
-Carlo F.
Customer service is exceptional, they always answer any questions right away and go out of their way to make sure you're happy. Without a doubt they source the best possible price. I highly recommend Hubbard Insurance Group!
-Rose P
Selecting this team of professionals at Hubbard Insurance Group to handle all my business policies, gives me the peace of mind I require to focus and grow my business.
-George P, GasGuys.ca
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Hubbard Insurance Group
55 Superior Blvd. Unit #200 
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