Seniors Life Insurance

We aid seniors in living with peace of mind, ensuring their loved ones’ financial security upon their passing. Address funeral expenses, outstanding debts, safeguard investments, or fulfill all these needs.

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4.8 Stars
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Our Reviews

Excellent4.8 Based on 352 reviews from ★★★★★ Artmiz was very pleasant and efficient to deal with. She was prompt in her replies, and in answering any other questions we had. Her travel insurance pricing was the best that we found,Jean BamfordJean Bamford ★★★★★ Artmiz was totally great!! She is so pleasant, efficient and she gave us the best price and advice!! It was a pleasure to work with her.Ian BamfordIan Bamford ★★★★★ Very good. LovelyDonna KeenanDonna Keenan ★★★★★ Our agent Artmiz was very knowledgeable and answered all of our hypothetical travel scenarios with ease. The premium savings were significant because Allianz offers "top-up" products to those of us who have existing coverage, but need more.catherine onishicatherine onishi ★★★★★ Ummi is always helpful and professional. She has been helping our family for all travel insurance over the past years.MargieMargie ★★★★★ Ummi is courteous and professional. Good job!Rod SetoRod Seto ★★★★★ Artmiz was very pleasant and helpful in providing the coverage needed for my trip.John CliffordJohn Clifford ★★★★★ Nice Dealing And Nice Explanation…Harman BasraHarman Basra ★★★★☆ I want to let everyone know that when you buy your insurance from Alliance, buy it from Dornaz. I have had 2 separate policies through her and can't say enough about her thoroughness, knowledge of the product and her customer service. It was pleasure dealing with her.Nola DyckNola Dyck ★★★★★ Great customer serviceJennifer PhillipsJennifer Phillips ★★★★★ I had a very good experience with Dornaz. She was very helpful and got my policy together quickly. I will certainly recommend her to my friends.Steve StaplesSteve Staples ★★★★☆ Thank you Theresa and Adam for your help with our travel insurance plans, for your timely assistance and the savings you were able to find for us.Yogashiatsuyucatan DonypaolaYogashiatsuyucatan Donypaola ★★★★★ Artmiz Namazi provided excellent service. She was very professional and took the time to explain the insurance coverage and answer all my questions. She is a great asset to your company and I will not hesitate to recommend her to my friends and familyChris DingsdaleChris Dingsdale ★★★★★ Artmiz was very helpful, friendly and informative. She really knows her subject and was ready to help in any way.Carolyn CassellsCarolyn Cassells ★★★★★ Theresa Heuser is professional and competent in the insurance process. A pleasure!Ronald BironRonald Biron ★★★★★ What a pleasure dealing with Ummi, who took all the pain out of purchasing Travel Insurance for my wife and I, who are both 80 year old Seniors. Sensitive and yet enquiring, Ummi guided us through the minefield of questions with the competant ease of an expert. Ummi was responsive to any unintended omissions and made sure there were no loose ends that could disqualify any future claim. We go on Holiday knowing that we have been professionally prepared with cover for Medical emergencies, if they should arise.John DawkinsJohn Dawkins ★★★★★ great service by the phone and email.h mh m ★★★★★ We bought Emergency Medical policy for our coming trip from Ummi Hanny. She was such a good help and responsive to all our questions, either by phone or emails. Such an excellent service, above and beyond our expectations!! Thank you!Jacob SteinbergJacob Steinberg ★★★★★ We booked travel insurance with Ummi Hanny for a river cruise we are taking this summer. She was very professional, responded quickly and efficiently to emails, calls and questions. Would definitely recommend her and Alliance/Allianz.Kathy CastleKathy Castle ★★★★★ It was a pleasure to deal with Artmiz. Very polite and Patient. Nice to deal with someone who knows and enjoys their job.Tom BrailsfordTom Brailsford ★★★★★ I just finished getting a tailored insurance package with the help of Ummi. I really appreciated the attention to detail and how knowlegable she was on the various packages. Ummi was able to get us an annual package for me and my wife that focused on our need for Trip Cancellation/Inturruption and also a single trip comprehensive package for our 3 grandchildren that will be traveling with us on our next trip. It was a pleasent experience. Ummi detailed the options and made recommendation that ensured we had the coverage we needed at the best possible price. This was all done over the phone and email and we received the comple package immediately after the purchase in our email. Thanks UmmiJeff LangJeff Lang ★★★★★ We were helped by Ummi Hanny she is very professional and helpful.Thanks for your understanding,Heinz KriegerHeinz Krieger ★★★★★ Ummi was our Insurance agent helping with getting medical and cancelation policy -she was very professional and knowledgeable and was able to get us a very reasonable insurance rates.Milos RudolfMilos Rudolf ★★★★★ Eric provided policy information, confirmed my personal details to ensure the policy would be correct, processed my payment quickly.Tracy HastingsTracy Hastings ★★★★★ I dealt with Ummi Hanny, oh my she was wonderful! She even laughed at my jokes. What a great first experience.Lise BeaulneLise Beaulne ★★★★★ Ummi. was very helpful and pleasant. Billwilliam rockwilliam rock ★★★★★ Our purchase of Allianz Emergency Medical Insurance through Alliance Income Services Corp was a breeze. Ummi and Mariam was a pleasure to work with. They were both very patient, knowledgeable, and efficient in presenting the various options available to us. Mariam did a lot of leg work comparing several insurance companies just to find a plan that suit our needs. Ummi then completed the processing of the policy effortlessly and made the process seamless. I would highly recommend anyone who needs an insurance coverage to speak to especially this two ladies.Danny ChinDanny Chin ★★★★★ My agent Artmiz was very helpful and provided me with a quote quickly. When I was ready to accept the quote she responded quickly and sent me all the necessary documents just as efficiently. Happy with my interactions.Stephanie RumbleStephanie Rumble ★★★★★ Eric and Bob were both extremely helpful and attentive to my needs.Paul CodyPaul Cody ★★★★★ Teresa was great. Addressed all my concerns.Robert CarterRobert Carter ★★★★★ The service given by Ummi Hanny was excellent- very pleasant, courteous and professional.Simin MeshginnafasSimin Meshginnafas ★★★★★ I had a top notch experience with this insurance broker. Eric Clementi was the person that helped me from the day that I asked for a quote online. He was very thorough with explaining every minor details that might be misunderstood between the client and the provider. Eric is very professional with his tone of voice which makes a potential client feel at ease. Nonetheless, I’ve tried different insurance broker, their monthly fees are way above the average, Alliance income Services Corp has the most decent fee for a family of five… it’s a bang for the buck kind of thing. Truly recommend this company. 👍Mark EngelMark Engel ★★★★★ Eric Clemente and Ryan were excellent to deal with. Both were very helpful , to the point , and curious .Michael BoudreauMichael Boudreau ★★★★★ Excellent service by Eric Clementi and Ryanmargaret burnsmargaret burns ★★★★★ Eric and Adam were very helpful with my travel medical insurance. Now I realize if I have to use this coverage that I will be in great hands.Bonnie SmithBonnie Smith ★★★★★ Hello...Eric was very easy to work with ....very polite....and set up my insurrance policy very quickly....thank you again Eric....Marsha Risser.Marsha RisserMarsha Risser ★★★★★ I ordered insurance for my husband and myself. It was a very easy process and was helped greatly by Eric and Dylan. Both were very diligent with helping me through it all. Very easy and quick.Marilee Van BuskirkMarilee Van Buskirk ★★★★★ It was a pleasure speaking with Eric Clementi. He was polite, understanding and considerate.Mohinder BangaMohinder Banga ★★★★★ I was quite happy to get excellent & friendly customer services from Artmiz - very helpful & knowledgeable!Bruce YeeBruce Yee ★★★★★ Great service from knowledgeable and very helpful people. Thank you Eric Clementi and Ezarie!Beverley HowickBeverley Howick ★★★★★ Eric Clementi is the manYunus PatelYunus Patel ★★★★★ I had to sign up for my own health and dental insurance. The staff at this company were quick to get back to me and provide suggestions on insurance plans. The sign up process was very easy to do over the phone. I communicated with Eric Clementi who was very professional and efficient.Muhammad KoyaMuhammad Koyajs_loader
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Shopping for Seniors Life Insurance? We Can Help!

We make finding the right insurance coverage fast and simple by connecting you with the best insurance providers in Canada.

Browse options, compare rates, and save more on HealthRates.ca.

Understanding Seniors Life Insurance

Life insurance plays a crucial role for seniors in Canada, providing financial security and support for their dependents. Seniors often invest in life insurance to provide for their children and grandchildren even after they’re gone. The death benefit payout can cover outstanding debts, funeral expenses, and ongoing living costs. Married seniors may opt for joint first-to-die life insurance policies, ensuring a death benefit payout when one of the policyholders passes away, supporting the surviving spouse with end-of-life expenses.

By securing life insurance, seniors leave behind a legacy of care and support. The policy can fund education costs, future goals, and offer peace of mind to dependents. Before shopping for life insurance, consider whether you need coverage based on your financial situation and goals. Types of life insurance for seniors include term life (affordable and suitable for covering debts or providing support during a specific term), whole life (provides lifelong coverage with a cash value component), and guaranteed or simplified issue options for seniors with pre-existing medical conditions. Even if you’ve tackled major expenses, life insurance remains important for peace of mind and financial security

Key Benefits

Having a seniors life insurance in Canada offers several key benefits:

Funeral Costs:

Seniors life insurance ensures that your funeral expenses are covered. Your loved ones won’t have to worry about the financial burden during an emotional time.

Debt Settlement:

If you have outstanding debts (such as a mortgage, credit card balances, or loans), life insurance can help settle these obligations.

Income Gap:

For spouses or dependents who rely on your income, life insurance bridges the financial gap left by your absence.

Legacy Planning:

Seniors can use life insurance to leave a financial legacy for their loved ones or contribute to charitable causes.

Peace of Mind:

Knowing that you’ve taken care of your end-of-life expenses provides peace of mind.

Different Types of Seniors Life Insurance

As a senior in Canada, you have several options for life insurance. Each option has its unique features and considerations: Let’s explore them:

Term Life Insurance

  • Coverage Duration: Term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years). It’s like renting insurance for that time frame.
  • Premiums: Premiums are typically lower than other types of insurance because you’re only covered for the chosen term.
  • Benefit: If you pass away during the term, your beneficiaries receive the death benefit. However, if you outlive the term, the coverage ends without any payout.
  • Flexibility: It’s ideal if you want coverage during specific milestones (e.g., until your mortgage is paid off or until your children are financially independent).

Whole Life Insurance

  • Lifelong Coverage: Whole life insurance offers coverage for your entire life. It doesn’t expire as long as you pay the premiums.
  • Cash Value: Part of your premium goes into a cash value account. Over time, this account accumulates value. You can borrow against it or use it to pay premiums.
  • Stable Premiums: Premiums remain level throughout your life, providing predictability.
  • Estate Planning: Whole life insurance is suitable for complex estate planning needs, such as leaving an inheritance or covering estate taxes.

No-Medical or Guaranteed Issue Life Insurance

  • Accessible Coverage: If you’ve been denied coverage by traditional providers or have health concerns, these policies can be a last resort.
  • No Medical Exam: They don’t require a medical exam, making them accessible even if you have health issues.
  • Higher Premiums: However, they often come with higher premiums due to the increased risk for insurers.
  • Lower Coverage Amounts: The coverage amounts are usually lower compared to other types of insurance.

Tips for Saving Money on Seniors Life Insurance

As a senior in Canada, there are several ways to save money on life insurance while ensuring financial security for your loved ones. Here are some tips:

Buy When You’re Young and Healthy:

  • Life insurance premiums are typically lower when you’re younger and healthier. As you age, the risk of health issues increases, which affects the cost of coverage. So, consider purchasing life insurance early to lock in better rates.

Choose Term Life Insurance:

  • Term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years). It’s straightforward and more affordable than permanent life insurance.
  • Unlike whole life or universal life policies, term life doesn’t build cash value. However, it serves its purpose by providing financial protection during the chosen term.

Shop Around for the Best Rate:

  • Don’t settle for the first quote you receive. Compare rates from different insurance companies.
  • Use online tools or work with an insurance broker to find competitive offers. Factors like your age, health, and coverage amount influence the premium.

Pay Annually:

  • Some insurers offer discounts if you pay your premium annually instead of monthly.
  • By paying upfront, you save on administrative costs associated with monthly billing.

Lower Your Coverage as Your Needs Decrease:

  • As you age, your financial responsibilities may change. For example, your mortgage might be paid off, and your children may be financially independent.
  • Adjust your coverage amount accordingly. Reducing coverage can lower your premiums.

Quit Smoking:

  • If you’re a smoker, quitting can significantly impact your life insurance premiums.
  • Insurers consider smoking a risk factor, so being smoke-free can lead to cost savings.

FAQ’s – Seniors Life Insurance

Find even more valuable answers to the most commonly asked questions about seniors life insurance here:

Seniors can still qualify for life insurance through specialized policies tailored to their needs. Various insurance companies offer coverage options specifically designed for seniors, considering factors like eligibility criteria and coverage choices.

Seniors’ life insurance premiums are influenced by several factors:

  • Age: Older individuals may face higher premiums.
  • Health Status: Existing health conditions can affect rates.
  • Smoking Habits: Smokers may pay more.
  • Policy Type: Different policy types (e.g., term, whole life) have varying costs.

Whether a medical exam is required depends on the chosen policy. While some policies mandate exams, others—such as guaranteed issue or simplified issue life insurance—do not.

Seniors can explore options to switch or upgrade their life insurance policies based on changing needs and financial circumstances. Consulting with their insurance provider is essential to understand available choices.

If a senior misses a premium payment, coverage may lapse according to policy terms. Seniors should discuss available options with their insurer to avoid any disruptions. Remember, securing life insurance provides peace of mind and financial protection for seniors and their loved ones.

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4.8 Stars
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