We have a range of flexible insurance product solutions with protection tailored to the needs of your family or business. Some solutions also offer tax-deferred savings.
- Universal Life
- Permanent Life Insurance
- Term Life insurance
- Critical Illness Insurance
- Long Term Care Insurance
- Personal Health Insurance
- Health Coverage Choice
Talk to your Advisor about protecting you, your family or your business.
It’s important to review any life insurance policy regularly and consider:
- Have your longer term goals for the coverage or policy values changed?
- Is your current coverage sufficient?
An advisor can help you answer your questions or help you review your coverage.
Insuring your mortgage is an important step towards your financial independence. Buying mortgage insurance from your lender is not your best choice. Individually owned mortgage insurance gives you control and flexibility that is not offered anywhere else. Individually owned mortgage insurance should be your only option.
The choice is yours…
Let us help you make an educated decision.
We specialize in:
- Mortgage Insurance
- Life Insurance
- Term Insurance
- Whole Life
- Disability Insurance
- Group Insurance
- Travel Insurance
- Critical Insurance
- Long Term Care
- Health Benefits
Take a closer look!
- Bank mortgage insurance pays only the outstanding mortgage balance at the time of death. Your insurance coverage decreases as time goes by, but your premiums either remain the same or increase.
- Bank mortgage insurance pays out only once on a first to die basis even though you are paying for two individual lives.
- The bank is the owner and beneficiary of your plan, you are jus the insured.
- If your medical condition changes during your mortgage period, you could be subject to a medical to prove your insurability.
- The bank’s mortgage insurance is not convertible or portable.
Personal Mortgage Insurance
It’s about balance, flexibility and control.
- We always pay the original mortgage balance at the time of death.
- There is a double payout with personally owned mortgage insurance because we pay on each insured’s death.
- You are the owner of your plan, therefore your family is the beneficiary.
- Guaranteed insurability with an insurance company states that you will never be subject to another medical through the entire time that you own your personal mortgage insurance.
- By owning your own mortgage insurance policy, it is convertible and portable at any time.
Term Life insurance is designed to provide you with insurance protection for a set period of time, at an affordable price. If you die within the time period, your beneficiaries can receive the amount specified in your policy, tax-free.
Term life insurance is easy to purchase. Simply contact us to speak or arrange a face-to-face meeting with, one of our Insurance Representatives.
Your health and lifestyle can save you money
Depending on your age, health, and the amount of insurance you need and your lifestyle, you could qualify for even lower rates. For instance non-smokers pay less than smokers.
Choose the term that suits you
When choosing term insurance, it’s important to choose the term that will cover you through important life events. With term life insurance, you’re able to choose a benefit amount and a term that will best meet your needs.
Remember too that with our term insurance policies, you have the option of converting to a permanent plan offered for conversion, up to the age specified in the policy.
For help selecting the term insurance that best suits your needs, contact us or:
Compare life insurance solutions
We offer a range of term insurance choices.[list style="arrow" color="black"]
- Term 10 life insurance
- Term 20 life insurance
- Term 70 life insurance
- Term 100 life insurance
- Pick a Term (10 – 30 years)
[/reveal][reveal title="Universal Life Insurance" open="false" color="grey-lite"]All the flexibility you need
Universal life insurance coverage is exceptionally flexible. You can choose the amount of life insurance you need now and change it later when your needs change. You can select a joint policy covering two people that pays out after both people have passed away – or you can choose a joint policy covering up to five people that pays out when the first person passes away.
If you like, you can include several optional types of coverage tailored to your specific needs. Plus, your premiums can also be structured to suit your budget and future plans.
Universal life insurance also gives you access to cash. When your investment plan has accumulated sufficient cash value, you can withdraw cash from it, or borrow money using the policy as collateral.
Let us help you design your policy
Contact us and let one of our professional insurance representative help you choose the coverage and investments that are right for you.
Protecting your family , investing in your future
You need insurance – and you want long term investment growth. Our universal life insurance plan combines permanent life insurance protection with a flexible portfolio of investment options, customized to your financial needs and aligned with your risk tolerance. Contact us and we can help you select the coverage and investments that are right for you.
Help with a complex subject
In today’s world of complex tax laws, you want maximum protection for your estate – and our universal life plan can provide it. However, universal life insurance offers many options, so contact us today to talk to one of our representatives for help in selecting the coverage and investments that are right for you.
How it works
Each payment you make is divided into an insurance premium, a small administration charge, and a deposit into the investment accounts of your choice, where your money grows tax-deferred.
When you choose a universal life insurance plan, we will help you design an investment portfolio that suits your unique risk tolerance. You could choose to invest in interest bearing accounts, which guarantee a fixed rate of return. Or you can choose accounts that fluctuate with market performance.
How universal life insurance works
You make a contribution[list style="arrow" color="black"]
- Part of your contribution pays the cost of insurance and a small administrative charge.*
- The rest goes to an investment of your choice.
You can make withdrawals from your investment account**
You can arrange for a bank loan or a policy loan***, based on the cash surrender value of your policy.
Your named beneficiary receives a tax-free benefit that includes the face amount of your policy, and the value of your investments****
*Provincial premium tax charge included.
**May be subject to surrender charge and taxes.
***If the policy loan amount exceeds the adjusted cost base of the policy, the excess amount is taxable.
****For policies with level death benefit , the face amount is only paid.[/reveal][reveal title="Permanent Life Insurance" open="true" color="grey-lite"]Life insurance for your entire life
Permanent life insurance if designed to provide insurance protection for your entire lifetime. Many people appreciate this type of security, knowing that when they die, their beneficiaries may receive the full amount of their insurance, tax-free.
With permanent life insurance, your premiums never change. Talk to one of our insurance representatives about structuring the right permanent insurance for you.
If you already have a term life policy with us, you may be able to convert your term plan to one of these permanent plans. Check your policy for details or contact us.
If you are not covered by a group health plan or not satisfied with the health coverage you have today, a personal health and dental plan may be the answer for you.
We have plans that are designed to fill the gaps left in your government health insurance plan. Whether you focus is prescription drugs, dental care, or a combination of both, there are plans that offer a selection of health plans and levels of coverage from which you can choose.
Worried about losing your group health and dental benefits? Concerned about the many medical expenses you’ll have to start paying for out-of-pocket because of the increasing gaps in your provincial health insurance coverage?
Most companies health and dental plan can give you that security. With four different levels of affordable health insurance coverage to choose from, you’re certain to find the plan that meets your specific needs and budget.
Critical illness insurance provides you with a lump-sum payment to be used however you see fit. If you want to try alternative therapies, be treated outside of the country, hire someone to take care of you, or hire a nanny to take care of your children…you choose how to spend your money.
Critical Illness Insurance covers specific illnesses only.
A critical illness plan provides a way of helping to protect yourself against the high cost of rebuilding your lifestyle following a critical illness. It offers a lump-sum payment while you are living which usually becomes payable 30 days after the diagnosis of one of the critical illness insured conditions as defined in the policy. How you use it is up to you.
Critical Illness Insured Conditions
[vc_row_inner][vc_column_inner width="1/2"][list style="arrow" color="black"]
- Alzheimer’s Disease
- Aplastic Anaemia
- Aortic Surgery
- Bacterial Meningitis
- Benign Brain Tumour
- Coronary Artery Bypass
- Heart Attack
- Heart Valve Replacement
- Life-Threatening Cancer
[/list][/vc_column_inner][vc_column_inner width="1/2"][list style="arrow" color="black"]
- Kidney Failure
- Loss of Independent Existence
- Loss of Limbs
- Loss of Speech
- Major Organ Transplant
- Motor Neuron Disease
- Multiple Sclerosis
- Occupational HIV Infection
- Parkinson’s Disease
- Severe Burns
Most Companies also offer a number of riders to customize your critical illness insurance policy. One of our representatives can assist you in determining which options are best for you.
[/reveal][reveal title="Disability Insurance" open="false" color="grey-lite"]What would you do if your income stopped today?
Where would the money come from for your living expenses?
Would your business survive if you, a partner or an employee were disabled?
Disability insurance coverage to help provide you with a monthly benefit when you are disabled due to an injury or sickness.
Personal Products[list style="arrow" color="black"]
- Lifestyle Protection Plan
For professionals, business owners, executives and employees.
[list style="arrow" color="black"]
- Independence Plan
For lower income occupations, home-based workers, part-time workers, seasonal workers, new business owners and price-sensitive purchasers.
Business Products[list style="arrow" color="black"]
- Overhead Expense Plan
Pays for specific business overhead expenses that remain the responsibility of a business owner even if disable.
[/list] [list style="arrow" color="black"]
- Buy/Sell Plan
Provides funds to help enable one or more business owners to purchase shares of a disabled shareholder or partner in the event of total disability.
[/list] [list style="arrow" color="black"]
- Key Person Plan
Provides benefits in the event of a key employee’s total disability.
[/list][/reveal][reveal title="Long Term Care Insurance" open="false" color="grey-lite"]Long Term Care Insurance
What do you take for granted?[list style="arrow" color="black"]
- Get out of bed.
- Go to the washroom.
- Get dressed.
- Have some food.
Sounds pretty simple. You don’t even have to think about it. These are abilities you take for granted. But we’re all vulnerable to accidents and illnesses that can change the way we live.
Imagine not being as able as you are.
Life is unpredictable. Prepare yourself. Eventually, you may need long term care.
Long term care takes many forms, from in-home nursing to full service facility care. For example:[list style="arrow" color="black"]
- nursing care
- rehabilitation and therapy
- personal care (help with activities of daily living like dressing, eating and bathing)
- homemaking services (meal preparation, cleaning, laundry)
- supervision by another person
It’s not cheap. And the ins and outs of the long-term care service industry are not easy to navigate because of different legislation and different standards across the country.
The value of knowledge
It’s important to have a realistic expectation of what your needs may be if faced with a condition that makes it impossible for you to care for yourself.
Long term care insurance helps pay for long term care services.
We offer a full range of investment products that include:
- Segregated Funds
Barrie Mutual Group has everything you need, all in one place. We can also set up your investment portfolio as self-directed or advisor based, registered or non-registered or a little of each, based on your individual needs.
Your organization is unique, and we understand that. Your group might have thousands of people, or perhaps you can count them all on one hand.
Whatever your group size or benefits goals, our people have the knowledge and tools to help identify and meet your needs. Learn more about our service approach.
Find out more about the variety of benefits and services we offer.
Healthcare and Dentalcare Benefits
Healthcare and dentalcare benefits are important features of any group benefits plan. These benefits help your plan members bridge the widening gap between provincial health insurance plans and the coverage your members and their families need.
Wellness and Disability Benefits
The Ability Partnership is a collaborative approach to managing wellness and disability in the workplace. Drawing on a comprehensive menu of services, we work with your organization to help develop your disability management program.
Life and Accidental Death and Dismemberment Benefits
Preparing for the unexpected is the basis of group life and accidental death and dismemberment (AD&D) insurance. Our plans provide financial support for your plan members and their families in the event of a death or tragic accident.
Benefits Solutions for Small Business
You’ve worked hard to build your business into the success it is today, and we know it’s important for you to exceed your current level of success. A Great-West Selectpac group benefits plan can help you do that, by providing a comprehensive group benefits plan for your group of three to 35 employees.