Term Insurance is an economical solution that provides coverage up to a certain age and then terminates. If you pass away during the term of coverage the policy will be paid out to your designated beneficiary.

Permanent Life Insurance is an economical solution that provides coverage up to a certain age and then terminates. If you pass away during the term of coverage the policy will be paid out to your designated beneficiary.

Universal Life Insurance offers permanent life coverage with the added benefit of allowing you to accumulate money in a side fund. Universal Life insurance is characterized by its flexibility when it comes to modifying the face amount, payment frequency, premium amounts, and investment options. During your lifetime, once you have fulfilled the obligatory wait time, the policy's cash value will come available for withdrawal or collateral.

Whole Life Insurance gives you the security of permanent life coverage and profitability. Whole life builds up a surrender value with the benefit of guaranteed level premiums and a level death benefit.

Public Service Management Insurance Plan (PSMIP) conversions allow Canadian Government executives to convert their government group insurance to an individual life insurance policy, upon retirement, without undergoing any medical tests or providing any medical information. The amount of life insurance you are eligible for is directly linked to your salary at the time of your retirement. This means that as a government executive you are eligible for a guaranteed life insurance plan, regardless of your medical history.

NL Financial has been assisting retirees convert their PSMIP for more than twenty years. We are happy to answer any questions you may have regarding this program.