Cover your funeral expenses.
Photo by pareeerica
Canada Purple Shield sells a no medical life insurance plan via their team of pre-planning funeral expense consultants. The average cost of a funeral in Canada is $7,500, rising dramatically from to 2008, when the Canadian Government pegged the average cost at $5,892.
Canada Purple Shield's plan is meant to help cover that higher cost. The policy is underwritten by Assurant Life of Canada, which is the last funeral funding company in Canada that has an excellent rating from AM Best. The AM Best rating is an indication of the company's financial strength, stability and their ability to pay out a claim.
Assurant Life's parent company, Assurant Inc., is the provider of specialized insurance products and related services in North America and in select international markets. The Purple Shield plan is available without a medical and has a built-in inflation protector, meaning the plan increases over time to protect against inflation. The policy also pays out its death benefit on a tax-free basis.
For more details on no medical life insurance in Canada, please contact us at 1-866-899-4849 or visit our No Medical Life Insurance Quote Page.
Hi, Quick question, does the plan only cover funeral costs if the funeral takes place in North America?
Thanks
Hi Batul, thanks for the question.
I have confirmed with Purple Shield that they will pay the death benefit to the listed beneficiary in CDN dollars, regardless of where the funeral is being held.
Hopefully that help, thanks!