If you want to leave a legacy and guarantee your loved ones financial well being, then you might want to consider whole life insurance. Whole life insurance is a type of life insurance that provides lifelong coverage and builds cash values over time. The policy pays a guaranteed, tax-free death benefit to your beneficiaries, which can be used to cover final expenses, pay off debts, or provide financial support for your family. Due to its permanent coverage and cash value growth, whole life insurance is an excellent way to secure your financial future and leave a lasting legacy for the people you love.

The amount of coverage you need depends on various factors such as your current financial situation, outstanding debts, future expenses, and the number of dependents. A good rule of thumb is to aim for a coverage amount that is at least 10 times your annual income. In some cases, purchasing both Whole Life and Term Life policies can be a smart way to ensure financial security while keeping monthly premiums more affordable.

There are two main types of life insurance: term life and whole life. Term life provides temporary coverage for a specific term (e.g., 10, 20, or 30 years) and is more affordable, but it offers the same amount of protection during that term. Whole life, on the other hand, is a more expensive option, but it provides guaranteed, lifelong coverage and builds cash value over time. Deciding which is right for you depends on your individual needs and budget. Neither term life insurance nor whole life coverage on the Goose app requires a blood test, agent assistance, or any other complex process.

With Goose Insurance, if you purchase a life insurance policy, you have 10 days to cancel or make any necessary changes. Once the policy is in effect, you can only reduce the coverage amount. If you wish to increase your coverage, you can apply for an additional Whole Life policy, provided you meet the eligibility criteria at the time of application. You can contact one of our licensed agents, who are direct employees of Goose Insurance, to discuss your needs. Email us at support@gooseinsurance.com or chat with us directly through the Goose Insurance app.

Generally, life insurance premiums are influenced by factors such as your age, health, lifestyle, coverage amount, and type of policy. The younger and healthier you are when you purchase a policy, the lower your premiums will be. It's advisable to lock in a policy early to secure more favourable rates. With the Goose Insurance app, you can purchase term and whole life policies instantly.

A beneficiary is the person or entity who receives the death benefit if you pass away. You can choose one or multiple beneficiaries, and they can be family members, friends, or even charitable organizations. It's crucial to regularly review and update your beneficiaries to reflect any changes in your life circumstances. In some provinces, your beneficiaries may be deemed irrevocable; it is always a good idea to inquire about provincial laws pertaining to beneficiaries.

In most cases, life insurance coverage takes effect immediately upon approval and payment of the first premium. It is also very common to have a waiting period for certain causes of death such as suicide or pre-existing medical conditions. It's essential to carefully review the terms of your policy, as certain situations or policy types may have specific exclusions. You can contact one of our licensed agents, who are direct employees of Goose Insurance to discuss.

Please refer to the policy wordings for the full list of benefits, exclusions, and limitations. You can also contact our licensed agents at support@gooseinsurance.com if you have any additional questions.