Great-West Life Assurance Company – All You Must Know

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Great-West Life Assurance Company: Overview (click to open)

Great-West Life Assurance Company is one of three largest Canadian life insurance companies (with other two being Manulife Financial and Sun Life Assurance Company). Great-West Life Assurance Company, similar to other Canadian life insurance companies, offers numerous products targeting clients with various insurance needs. The Great-West Life Assurance Company is recognized as a leading financial services provider. It is through financial contributions and volunteer work of the staff and advisers that the company builds strong communities like their Key to Giving program, which provides financial support to health-based, non-profit organizations. The members of the company can be assured that they receive the necessary individual products such as life, disability insurance, critical illness, health and dental insurance, and services such as retirement and investment planning. One of their most interesting products within retirement and investment planning is the Residential Mortgage by which customers are offered tailored products by the team’s mortgage planning specialists. Mortgage life insurance enables you to add life insurance to your mortgage. If launching a small, medium or large business, Great-West offers a variety of group benefits for your company, such as health and dental care, wellness and disability, life benefits, international benefit plans, accidental death and dismemberment benefits. The International Benefit Plan offers members the opportunity to insure their employees when in the U.S. or oversees, or employees from a foreign country. In addition, Great-West Life’s members enjoy the largest network of group retirement services advisers across Canada.

In 2019 all three brands owned by Great-West Lifeco (Great-West Life Assurance, London life Insurance, and Canada Life Financial have announced about one single branding as Canada Life.

 

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Great-West Assurance Company : Products (click to open)

Great-West Life Assurance Company products can be grouped into 5 key categories

  1. Individual Insurance
  • Term Life Insurance
  • Participating Life Insurance
  • Universal Life Insurance
  • Disability Insurance
  • Critical Illness Insurance
  • Health and Dental insurance

        2.Wealth Management

  • Investing and Saving (e.g. Mutual Funds, Segregated Funds, Savings options, Estate Protection, etc.)
  • Retirement Income (e.g. Income Annuities, Guaranteed Interest Options, HelloLife, Lifetime Income Benefit (LIB)
  • Baking Services
  • Mortgage solutions
  • Brokerage services

        3.Group Benefits

  • Healthcare Benefits
  • Dentalcare benefits
  • Wellness and Disability programs
  • Life and Accidental Death / Dismemberment benefits
  • Other group solutions / plans
  1. Group Retirement
  • Group Retirement and Savings: RPP (registered pension plan), RRSP (registered retirement savings plan), DPSP (deferred profit-sharing plan), TFSA (tax-free savings account), NRSP (non-registered savings plan), EPSP (employee profit-sharing plan), SPP (simplified pension plan), PRPP (pooled registered pension plan), Investment only plan
  • Retirement Income: Annuities, RRIF (registered retirement income fund), LIF (life income fund)

      5.Business owner Insurance

  • Life Insurance
  • Disability Insurance
  • Critical Illness Insurance

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LSM Insurance is an Independent Life Brokerage celebrating 25 years in Canada. We are contracted with over 15 leading life insurance companies in Canada, helping make sure you get the best plan at the best price. We are not contracted or affiliated with Great-West Life Assurance .