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Mars Empire Group Inc is a BBB Accredited Business. Click for the BBB Business Review of this Insurance Companies in Etobicoke ON
 
Licensed from:
Financial Service Commission of Ontario
 
 
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Frequently Asked Questions

What is the difference between term insurance and whole life insurance?
How much life insurance is adequate to meet my family’s needs?
If I became disabled which gov’t programs would pay me a disability pension?
Are my investments protected from creditors?
Why should I invest in an RESP (Registered Education Savings Plan)?
If my employer does offer an employee benefit plan, can I get a personal benefit plan?
Why are you asking me about my age and gender?


 
 
What is the difference between term insurance and whole life insurance?
 
Term insurance is temporary insurance for temporary needs such as mortgage insurance, dependency period, and outstanding debts. It usually expires at age 70 or 75. Premiums increase at the end of the term

e.g. A Term 5 Insurance Policy; premium would increase every 5 years according to your age at that time.

Permanent Life Insurance premiums remain level throughout your life and there is no expiry date. Because of the level premium throughout you pay higher premiums in the early years to offset higher premiums required to pay for the policy as you get older. The excess premium forms a pool of money “policy reserve” which is invested by the insurance company. If the insurance company does well you receive dividends which can be used to purchase term insurance, offset premiums, and other options.

 
 
How much life insurance is adequate to meet my family’s needs?
 
Click here and use our Life Insurance Calcuator

 
 
If I became disabled which gov’t programs would pay me a disability pension?
 
Canada Pension Plan – You must be disabled according to CPP legislation in order to receive benefits and there is a 3 month waiting period. The disability must be physical or mental, severe and prolonged.

Severe – inability to pursue any substantially gainful employment. Prolonged – indefinite or likely to result in death.

Employment Insurance – Benefits are paid as a percentage of your weekly insurable earnings to a set maximum. E.g. 57% of the weekly insurable maximum or your regular earnings. There is a 2-week waiting period and is paid for a maximum of 120 days. EI is 2nd payor therefore if you receive benefits from any source of employment or group insurance benefits, pension income or compensation for an accident premiums are reduced $ for $.

Workers Compensation – Provides benefits for work-related disabilities only.

 
 
Are my investments protected from creditors?
 
If your money is invested with an insurance company your creditors cannot seize your investments, providing you name a dependant as your beneficiary.

 
 
Why should I invest in an RESP (Registered Education Savings Plan)?
 
With the Canada Education Savings Grant, the government will add 20% to annual contributions up to $2000, for a maximum grant of $400 per year per eligible beneficiary. RESPs grow tax-free and earnings are taxed in the beneficiary’s hands when withdrawn, and since students usually have little or no income, they will owe little or no tax.

 
 
If my employer does offer an employee benefit plan, can I get a personal benefit plan?
 
Many of our partners have personal benefit plans to suit everyone's needs.

 
 
Why are you asking me about my age and gender?
 
Calculating quotes for your compulsory insurance coverage is a two-part process. The first, is calculating your quote under the new rate grid where age and gender are not required. The second part is calculating your quote using the existing underwriting rules of the insurers. For this, age and gender are necessary.

Once both versions are calculated, the lower of the two premiums is the one included in your total quote.

Calculating your compulsory insurance using these two methods ensures the quote you receive after the introduction of the reforms is not higher then the quote you would have received before October 1, 2004.

   


"I would gladly recommend Life Insurance Advisors to my friends or anyone who might be interested in buying life insurance. Mike personally handled my account and was especially responsive to my needs. I was equally impressed with the low cost of my insurance policy." - Alexander & Mary, Peterborough ON

"Your service and assistance in obtaining my life insurance policy has been outstanding in every aspect." "Job well done!!  Will definitely recommend! 
Shaun & Tanya, Etobicoke ON

"AJ was very helpful and non-pressuring. I called him for quotes and after sending them to me, he didn't keep calling every other day to see if I would buy. AJ allowed me a lot of time to make my decision. When I did have questions, he returned my calls promptly and was very helpful. I enjoyed working with AJ on this matter." - Noel & Usha, London ON

 

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10 Four Seasons Place, 10th Floor, Toronto, Ontario M9B6H7 416-900-6871
 
We serve all of Ontario including: Acton, Ajax, Almonte, Amherstberg, Ancaster, Aurora, Barrie, Beamsville, Belleville, Bolton, Bracebridge, Bradford, Brampton, Brant, Brantford, Brighton, Brockville, Burlington, Cambridge, Cayuga, Chatham, Churchill, Clarence, Clarington, Cobourg, Collingwood, Cornwall, Essex, Fort Erie, Georgetown, Goderich, Gravenhurst, Guelph, Grimsby, Gwillimbury, Haldimand, Hamilton, Hawkesbury, Huntsville, Ingersoll, Kenora, Keswick, Kingston, Kingsville, Kitchener, LaSalle, Lincoln, Lindsay, Listowel, London, Milton, Markham, Midland, Mississauga, Napanee, Newmarket, New Alliston, Niagara Falls, Niagara on the Lake, North Bay, Norfolk, Oakville, Orangeville, Orillia, Oshawa Ottawa, Owen Sound, Paris, Parry Sound, Pelham, Pembroke, Petawawa, Peterborough, Pickering, Picton, Port (Pt.) Colborne, Port Dover, Port Elgin, Richmond Hill, Sault Ste. Marie, Sarnia, Scarborough, Simcoe, Stoney Creek, Stratford, Strathroy, St. Catharines, Stouffville, St. Thomas, St. Mary’s, Sudbury, Tecumseh, Thornhill, Tillsonburg, Timmins, Thorold, Thunder Bay, Toronto, Trenton, Vaughan, Vineland, Wasaga Beach, Waterloo, Welland, Whitby, Windsor, Woodbridge, and Woodstock.