Life Insurance

  • Paragon is an independent life insurance broker, so we simply find the best (lowest) premium from numerous insurance companies to meet your insurance needs
  • We offer insurance products that cover you for a specific amount of time (5 years, 10 years, 20 years, etc.) or your whole life (whole life insurance, T-100)
  • Insurance not only protects you in case of an untimely death, but also to helps you grow your net worth

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Mortgage Insurance

  • Personally held mortgage insurance is almost always cheaper than bank-held mortgage insurance you get with your mortgage
  • Mortgage insurance is transferable, so if you renew your mortgage with another institution, you do not have to renew your insurance
  • Personally held mortgage insurance is flexible, as you can apply the proceeds to anything. Bank held mortgage insurance can only be applied to the outstanding balance of the mortgage

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Segregated Funds

  • Segregated mutual funds are similar to regular mutual funds, except they are offered through insurance companies. Because they are through insurance companies, they offer extra benefits you cannot get with regular mutual funds
  • Segregated funds are unique as they allow you to add a beneficiary to non-registered accounts, so you can avoid probate and probate fees
  • Segregated funds come with 2 guarantees of principal: one guarantee protects your principal after 15 years, and the other guarantee protects your principal at death, in case the market value is lower when that occurs
  • Segregated funds are protected from creditors, so if you are in a situation like owning your own business, you can rest assured that your creditors cannot touch your assets in segregated funds

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Disability Insurance and Critical Illness

  • These types of insurance products protect you in case something happens, but you survive. So as life insurance covers you at death, Disability and Critical Illness cover you in life
  • Disability pays you a monthly income if something happens and you can no longer do your normal work duties. This type of disability can cover you for a short amount of time, or until you reach age 65, when government pensions kick in. The length of coverage is correlated to the price you pay for the premiums
  • Critical Illness gives you a lump sum payout if you survive one of the major diseases (heart attack, stroke, cancer, etc.) for 30 days after diagnosis. This money can be used for any purpose without restrictions. Critical Illness insurance is very popular in other countries, and is just recently available in Canada. As more and more Canadians are surviving these horrible diseases, a lump sum payment from critical illness insurance would be a helpful tool for recovery.

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