EssentiaLife
Permanent insurance for people from 40 to 80 years of age.
What is EssentiaLife?
Simply answer some basic questions and confirm that your general health is good, and you can purchase up to $25,000 of permanent insurance. It does not require a doctor's visit or medical report. In fact, you can purchase your policy over the phone by calling 1-800-563-6237.
EssentiaLife insurance can ease your passing by removing financial burdens from your loved ones. You can choose to provide a legacy of your life by directing funds to your church or favourite charity. EssentialLife offers the means to do both with one affordable and convenient policy.
Affordable coverage
EssentiaLife rates are competitive with similar life insurance policies on the market today - but only FaithLife Financial flows its earnings back to the Christian community. As a not-for-profit, Christian-focused organization, FaithLife Financial supports the causes its policyholders believe in - locally, nationally and internationally.
The choice is yours
EssentiaLife provides up to $25,000 in tax-free dollars that you direct as you choose:*
Cover funeral costs. Funeral expenses may reach $10,000 or more, and the Canada Pension Plan death benefit may only be $2,500 if you qualify. EssentiaLife can remove the burden of these excess costs from your family. When you purchase an EssentiaLife policy you will be eligible to receive $75 towards the updating of your will or power of attorney.
Pay final medical expenses or outstanding debts. Leave your loved ones with only precious memories, not unexpected expenses.
Enhance your overall insurance plan. Even if you've been conscientious about providing financial security for those left behind, you can address their need for extra assistance with this inexpensive additional coverage.
Provide an opportunity for good works in your name. You can choose to leave funds to your church or favourite charity.
How it works: When you purchase a policy, assign ownership of the policy to your local church or charity of your choice and name that group as the beneficiary, then they will issue a donation receipt to you annually for every premium payment you make. The tax credit resulting from this donation will reduce the cost of the insurance by 39% to 50% depending on where you live in Canada.
A legacy gift from us, in your name
Whomever you choose as the beneficiary of your EssentiaLife policy, FaithLife Financial will donate an amount equal to two percent of your death benefit to a church or charity as you direct. This means as much as an additional $500 - at no cost to you.
Additionally, our EssentiaLife features:
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Premiums that will never increase. We guarantee the premium on your EssentiaLife policy will remain fixed during for life
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Up to $25,000 benefit without medical tests. Qualify for coverage by answering a few simple questions - it's that easy
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Option to pay premiums for a limited period of time
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Accumulating cash value. You can access the value should you ever need it
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Spousal discounts. Lower premiums when you and your spouse purchase plans together
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Up to four times Accidental Death Benefit. Your beneficiary receives double the benefit should you die as the result of an accident… and four times the coverage if the accident occurs on public transportation
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Funds not subject to probate. The value of your EssentiaLife policy is paid directly to the beneficiaries you name
The special trust of FaithLife Financial
If you are not totally satisfied with your EssentiaLife policy, FaithLife Financial will provide a full refund of all previous premiums paid within 45 days of policy delivery.
Talk to us about EssentiaLife today by calling 1-800-563-6237 or contacting your FaithLife Financial representative.
*Death benefit payable may be limited in the first two years of coverage. Please ask your FaithLife Financial representative for details.
