Life insurance is a contract between the policyholder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. In return, the policyholder agrees to pay a stipulated amount.

Term life insurance suits your needs for a predetermined period of time. It gives you, your loved ones and your beneficiaries’ full protection in the event of your death, during a time period of your choosing.

Life Insurance Products

Life insurance is an attractive tool for estate planning because the proceeds received at death are generally not subject to tax. If you have, or are planning to purchase life insurance, you should be aware that the tax implications would depend on whether it is "exempt" from taxation of the accumulated income or "non-exempt."

Term Insurance

Whole Life Insurance

Endowment Insurance

Annuities

Child Accident

An inexpensive and comprehensive way to protect your family from unexpected expenses year round Each year, thousands of families are left unprotected when their children are injured at school, on field trips or at home without child health insurance.

Travel

Reliable Life underwrites short-term and long-term travel insurance products, which are distributed directly through travel agencies and brokers across Canada. These products are marketed under various private brand labels to meet the specific needs of the traveling clientele of the particular distribution network.

The tax on non-exempt policies must be paid at least every three years. Holders of policies acquired after 1989 must pay tax annually. If you are insured under a non-exempt policy, then upon your death investment income generated from this policy that has not yet been taxed will be considered taxable income. The proceeds received on death from an exempt policy, including the income earned under this policy, are not taxable.

Our role is to protect policyholders by minimizing the loss of benefits and ensuring a quick transfer of their policies to a solvent company, where their protected benefits will continue to be honored.

Term Insurance provides for life insurance protection for the selected term only. In case the person dies during the term, the benefits are payable under the policy and in case of his survival till the end of the selected term the policy normally expires without any benefit becoming payable. Term insurance may be regarded as temporary insurance and is more nearly comparable with "Property & Casualty insurance" contracts than the other forms of Life insurance contracts.

If you have further query please contact Canada Insurance Plan.