Life & Personal Insurance for life’s unexpected turns
What is Life and Personal
Insurance?
What is it for?
How does it work?
Choose your personal insurance
Life Insurance
Life Insurance provides financial security for your family and loved ones by offering a tax-free payout in the event of your death. It is designed to help cover expenses and maintain your family’s lifestyle in your absence.
How it works
When you purchase Life Insurance, you pay regular premiums in exchange for coverage. In the event of your death, the policy pays a tax-free benefit to your beneficiaries. The amount you receive is determined by the coverage you select and may vary based on your health, age, and the policy terms. Life Insurance helps ease financial burdens, allowing your loved ones to maintain their standard of living.
Key features
- A customized Life Insurance policy that works for our customers and their budget, instead of a generic policy.
- Friendly and effective customer service from our dedicated and attentive staff and service representatives.
- Ensuring our clients have peace of mind through every step of the process: quotes, renewals and claims.
Disability Insurance
Disability Insurance will replace a portion of your income if you become disabled due to an illness or accident, which leaves you unable to work as a result. BCU Insurance offers an income replacement plan to help you keep up with your financial responsibilities, so you can focus on your recovery.
Critical Illness Insurance
Critical Illness Insurance helps pay the costs associated with life-altering illnesses, such as heart disease, cancer and stroke. It also provides coverage for up to 22 of the most commonly diagnosed medical conditions. A BCU Insurance consultant will help you get the coverage that is right for you.
Travel Insurance
Travel Insurance offers protection against unexpected events during your trip, such as trip cancellations, interruptions, or medical emergencies. It ensures you’re covered for potential disruptions while travelling, giving you peace of mind and financial security.
How it works
Travel Insurance covers a range of incidents, from trip cancellations to medical expenses, depending on the policy. If an unforeseen event causes you to cancel or delay your trip, or if you experience medical issues while abroad, the insurance provides financial compensation. You can choose a plan that fits your specific travel needs, ensuring you’re not overpaying for unnecessary coverage.
Key features
- A personal consultant will walk you through all steps of the process.
- Protection against trip cancellation, medical emergency, etc.
- Even with pre-existing conditions, we will find a plan that works for you.
- Customizable travel package to meet your needs and budget.
- Our network of travel insurance carriers means we find the best rate first.
Mortgage Insurance
Mortgage insurance will pay off the outstanding balance of a mortgage if the borrower dies, becomes critically ill or disabled and unable to work. Our BCU Insurance consultants will design a policy that will protect your family against unforeseen financial hardships.
How it works
If your downpayment is less than 20% of the home’s purchase price, you’re typically required to get Mortgage Default Insurance. This protects the lender if you stop making payments. You pay the premium upfront or add it to your mortgage.
Available coverages
- Mortgage Default Insurance: Required for high-ratio mortgages (less than 20% down). Protects the lender, not the borrower.
- Mortgage Life Insurance: Pays off your mortgage if you pass away. Protects your family from inheriting mortgage debt.
- Mortgage Disability/Critical Illness Insurance: Covers your payments if you become disabled or critically ill and can’t work.
Each of these is optional (except the first one when mandated) and offered through banks, insurers, or as part of your mortgage agreement.
Simple steps,
great benefits
Get started with expert guidance
Request a quote online or contact us directly, and our advisor will connect with you to discuss your goals, answer your questions, and recommend the perfect policy for your needs.
Complete your application
Finalize your insurance plan by submitting the required documents and completing any necessary forms. Our team will ensure the process is smooth and hassle-free.
Make the first payment
Activate your coverage by completing your first premium payment. This step ensures your policy is in effect and your protection begins immediately.
Enjoy peace of mind
Rest easy knowing your policy is active, providing financial security for you and your loved ones, no matter what life brings.
Plan ahead and stay protected
with BCU Insurance
BCU Insurance
Questions? We’ve got answers!
Anyone who lives in Canada – whether you’re a citizen, permanent resident, or temporary resident – can usually apply for insurance. Eligibility may depend on the type of insurance and your specific situation, like your age or health status. It’s always best to check the specific requirements for the coverage you’re interested in.
Yes, bundling different types of insurance – for example, home and auto – can often get you a discount and make managing your policies easier. It’s a smart way to save money and stay organized.
Absolutely – we’re here to help you every step of the way. BCU Insurance can guide you through the claims process, answer your questions, and connect you with the right support. Just reach out to us, and we’ll take it from there.
Yes, you can update your policy anytime your needs or life circumstances change, like buying a new car or renovating your home. Just let us know, and we’ll help adjust your coverage to keep everything in sync. It’s all about keeping your protection current and stress-free.
Yes, you can cancel your policy at any time. However, keep in mind there may be cancellation terms or fees depending on your carrier and policy. If you are ever in need of cancelling a policy, we’ll walk you through the process so there are no surprises.
