The Co-operators Group Limited, like the name implies, is a co-operative group that provides products and services in a variety of areas such as agriculture, service, health, finance and labour. A co-operative differs from a regular business in that it is owned by the people who use it instead of being owned by a separate party who provides services to the customers. One advantage of being a user-owner of a co-operative is being able to customize products in services; another advantage is that user-owners receive profits from the co-operative directly proportionate to how much business they do with the co-operative. This Canadian co-operative has been around for over 65 years; the first company to be part of the co-operative was incorporated in 1943 in Quebec.
Some of the insurance products that the Co-operators Group has to offer include home insurance, auto insurance, business insurance, farm insurance, travel insurance and life insurance. The Group offers four different categories of life insurance: term life insurance, permanent life insurance, universal life insurance and business life insurance. There are four kinds of term life insurance available: Infinity Term, Versatile Term, Mortgage Guard and Infinity Term Business. Infinity Term life insurance is more than just a term life insurance policy; it combines the benefits of both term and permanent life insurance to give you a great long-term solution at an equally great cost. Versatile Term is a more typical term life insurance policy. You can either choose a 10 year policy or a 25 year policy; both policies come with an option to renew once the policy is finished.
If you’re looking for a term life insurance policy so you can totally pay off your mortgage after your death, then check out Mortgage Guard, which provides better coverage than a bank’s mortgage insurance would. Infinity Term Business life insurance is for business owners who want to make sure that their business will be able to survive the financial blow that comes along with the death of an owner.
In the realm of permanent life insurance, the Co-operators Group has several options; Whole Life, Limited Payment Life and Responsibility suite are just a few of the many choices. The Whole Life insurance plan provides lifetime coverage as well as a savings component that can provide premiums and dividends. The Limited Payment Life plan is for people who want permanent life insurance but do not want to pay premiums for the entirety of their lives. You can choose to either pay all of your premiums within 20 years, or you can choose to only pay premiums up to the age of 65. The Responsibility suite life insurance policy is for people who would prefer not to undergo a medical exam; to qualify, all applicants have to do is answer a few medical questions.