Life insurance can step in to cover big things like a mortgage, any debt, or university tuition. It can also replace lost income. It may also help with everyday costs too: groceries, bills, or whatever your loved ones need most. The payout is tax-free, and your loved ones can use it in the way that supports them best.

Employer-sponsored life insurance usually covers only about 1-2X your annual salary, which is often far less than what your family would actually need.

Most financial experts suggest having closer to 10X your income in coverage. That’s why many people choose an individual policy to supplement what they get through work.

If you are a Canadian citizen or permanent resident between the ages of 20 and 85, you may be eligible for coverage.

• If you’re 65 or younger, term life insurance is usually available with coverage lasting up to age 80.

• If you’re over 65, a guaranteed issue whole life policy can be a simple way to secure coverage without delays.

Coverage is offered across Canada. Our services are available in every province except Quebec.

To help your application move quickly and smoothly, it’s best to have this information ready:

• Driver’s license

• Social Insurance Number (to verify your identity)

• Personal and family medical history

• Current prescriptions

• Details about your most recent medical consults, as well as any diagnostic tests or treatments

Why do we ask for this?
We use your driver’s license and Social Insurance Number to verify your identity securely in real time. Your medical history, prescriptions, and recent health information give us a clear picture of your overall health—often without the need for a medical exam.

Your privacy matters. All information you share is kept secure and confidential, and is used only to support your application.

Depending on which of our products you qualify for, the application process will vary.

In general, you can expect questions related to:

• Your health

• Your legal and driving history

• Your health insurance history

• Your employment and income status

• Your lifestyle and hobbies

• Your drug and/or alcohol use

You can start an application anytime and stop at any point without penalty.

Before any coverage is issued, we’ll show you the amount of insurance and the premium. If you’re happy with the offer, you’ll add your electronic signature to confirm your details, and your coverage will begin.

You also get a free-look period of at least 10 days after your policy starts. During that time, you can cancel for any reason and get a full refund.

If you pass away while your coverage is active, your beneficiary can file a claim with the insurance company. Once approved, they’ll receive a tax-free, lump-sum payment for the value of the policy. For example, if you have $250,000 in coverage, your beneficiary would receive $250,000.

This money can be used however they need—whether that’s covering daily expenses, paying off debts, or planning for the future.

Exclusions to know
In rare cases, a claim may not be paid. This could happen if false information was given on the application, or if the insured dies by suicide within the first two years of the policy. Details vary by policy, so it’s important to review your documents carefully.

Yes—we’re happy to assist and support you anytime. You can get in touch with our advisors and consultants by sending us an email at hello@openconceptfg.com.

Or book an appointment