American Income Life

  ***  Relevant Background : With an additional 10 year renewable and convertible policy to a base policy, a a face amount may be allocated to cover credit card debt.

  ***  Relevant Background: Policyholders can get a head start policy where they can add a child rider to their existing policy for up to $10,000 for all their children with same premium. Not to mention, the child can convert this policy to a policy of their own (term or whole life) with five times the face amount (e.g.. $50,000) once they turn 21.

  ***  Relevant Background: Policyholders can withdraw money (cash surrender value) from their whole life policies to pay for obligations such as tax owing, property tax, credit card payments, unforeseen events etc.  *** 

  *** Relevant Material : " In 2022, 27.0% of Canadians aged 15 and over, or 8.0 million people, had at least one disability. This represents an increase of 4.7 percentage points from 2017..." (" New data on disability in Canada, 2022", 2023  )  ***  References  (2023, December 1). New data on disability in Canada, 2022 . Statistics Canada. Retrieved July 2, 2025, from https://www150.statcan.gc.ca/n1/pub/11-627-m/11-627-m2023063-eng.htm

  ***  Relevant Background: The house payment rider at American Income Life works in the same manner as the Income protection rider except the house payment rider focuses on securing mortgage payments which may be very useful without mortgage insurance. Unlike the income protection rider which can be used as income replacement, mortgage, groceries or auto expenses etc. (any purpose), the house payment rider is only used to secure mortgage payments. In a big family, this rider can ensure common good and pay the mortgage for everyone rather than the expenses of one single individual. Also, the house payment rider may be used to pay monthly mortgage payments anywhere from six months up to 8.5 years.

***   Relevant Background : Unlike a term policy, policyholders may withdraw cash from their whole life policy, if need be, for unforeseen events and emergencies such as funerals, vehicle expenses, loan payments and long-term investments. The cash value builds up as the policy holder pays his or her premiums. Upon the death of the policyholder, this cash value does not get passed on to his or her beneficiaries. *** 

  ***  Relevant Background : With an additional 10 year renewable and convertible policy, a pay cheque protection (monthly payments) may be extended up to 8.5 years for family members to recover from the loss of a salaried family member. *** 

  ***  Relevant Background : Strike Waiver provides for waiver of premium while the insured is on authorized strike. One month of premium waiver is waived for each month of strike. If the strike lasts less than a month, one month of premium will be waived. The maximum waiver is 12 months. ***  Relevant Material :  On October 14, 2023, the Town of Whitby issued a statement that CUPE Local 53 representing workers at the Town of Whitby had commence strike action. Strikes can potentially impact the closing or occupancy dates of new homes or affect the completion of projects due to delays in inspections and processing applications for permits, approvals, etc... (" Town of Whitby Strikes Potentially Impacting New Home Construction",  n.d.  )  ***  Relevant Material : " Note:   Work stoppage data cover strikes and lockouts that amount to 10 or more person-days not worked. Data for 2025 cover the month of January. January data are preliminary, s...

  ***  Relevant Background : If you have been regularly employed within the same industry for 12 consecutive months and are laid-off, you may qualify for lay-off waiver of premium. Lay off waiver of premium provides for a waiver of premiums while the insured is on a qualified lay-off and is actively seeking work. A qualified lay-off is the termination of employment in an announced reduction of force due to economic reasons affecting at least 10 people. If an application is filled in and returned within 60 days after date of lay-off, one month's premium will be waived for each full month thereafter the insured is unemployed as a result of such lay off. The maximum benefit period is 3 months.   ***  Relevant Material: " Each year, about 5% to 10% of Canadian employees experience a permanent layoff . The implications of job loss are a big deal for affected individuals and their families;   a permanent layoff is associated with sustained annual earni...