SSQ Insurance
Regarding SSQ Insurance
Since its inception, SSQ Insurance's objective has been to provide insurance products that cater to the needs of its members and guarantee their financial stability.
SSQ Insurance stands as among the foremost financial institutions in Canada, encompassing:
- A clientele exceeding 3 million
- A workforce surpassing 2,000 individuals
- Assets under management totaling 12 billion
Established in 1944 in Quebec City, SSQ Insurance is a mutual company deeply rooted in community engagement. Managing assets worth $12 billion, SSQ Insurance stands as a cornerstone of the Quebec economy and ranks among the largest insurance firms in Canada.
Catering to a clientele exceeding 3 million individuals daily and maintaining a workforce of over 2,000 employees, SSQ holds a prominent position in group insurance services. Renowned for its diverse range of individual insurance, investment, and property and casualty products, SSQ Insurance is recognized for its commitment to meeting varied client needs.
Originating from grassroots initiatives, SSQ Insurance embodies a culture where collaboration is not merely a goal, but an intrinsic aspect of its identity. Its inception aimed to bridge social disparities by providing competitive tools to diverse demographic groups.
What is the significance of life insurance?
Upon the demise of the insured, your life insurance policy disburses a tax-exempt sum to your designated beneficiaries. This sum enables you to cover funeral costs, provide for your heirs, or settle outstanding debts. The passing of a loved one is inherently distressing. Alleviating the financial burdens associated with death can facilitate coping with the situation. Even if your employer-provided group insurance encompasses life coverage, it's vital to ascertain its adequacy in accidental death scenarios.
Recognitions and accolades
SSQ Insurance takes pride in every accolade it earns, serving as tangible evidence of the dedication its employees exhibit in providing top-notch service to their clients.
Responsible growth
From its establishment, SSQ Insurance has prioritized harmonizing financial and economic matters with social and environmental considerations.
Contributions and sponsorships
In commemoration of its 75th anniversary in 2019, SSQ Insurance has earmarked a dedicated fund for the SSQ Insurance Foundation. The SSQ Foundation has contributed over $500,000 to 27 distinct organizations.
Objective and Principles
The goal of the SSQ Foundation is to cater to the needs of its members and clients by providing insurance products that guarantee their financial stability. This aim is manifested in providing high-quality, competitive services that empower them to develop a lifelong financial plan.
Symbiosis
SSQ Insurance takes pride in incorporating mutualism and cooperation into its management approach, as evidenced by the majority of its directors being elected by its members.
Availability
With top-notch, user-friendly tools and excellent customer support, SSQ Insurance endeavors to provide a service that is within reach of everyone. This also encompasses access to information that is transparent, comprehensible, and pertinent to all.
Proficiency
Over the course of 75 years, the company has honed its expertise, offering tailored insurance products to meet its clients' needs. SSQ Insurance boasts a team of skilled individuals driven by their dedication to excellence and the efficacy required by their clientele. Social ResponsibilitySSQ Insurance actively contributes to humanitarian and community causes through financial aid for diverse social initiatives, while also urging its staff to volunteer their time to such endeavors. Ethical ConductIn fostering enduring relationships built on trust with clients, employees, members, partners, and the community, SSQ upholds stringent standards regarding labor practices and confidentiality.
Admiration
SSQ Insurance is dedicated to providing products that genuinely cater to the requirements of its clientele while upholding the privacy of their personal data.
Personal Life Insurance Offerings
Life assurance is a form of protection that guarantees a tax-free sum of money to your chosen recipients upon the demise of the insured individual. This sum can assist in managing the financial burdens stemming from such an unfortunate occurrence, including funeral costs, outstanding debts, or the desire to provide an inheritance to your loved ones.
While the insurance provided by your employer typically addresses many expenses linked with death, it is advisable to explore the potential benefits of securing personal life assurance.
SSQ Life Assurance presents three options: term life assurance, whole life assurance, and universal life assurance.
Tempo Plus Term Life Insurance
This insurance offering provides unparalleled adaptability at an affordable rate. It offers the utmost flexibility and can be tailored to suit your individual or business requirements for a span of 10 to 40 years. Unlike conventional life insurance, its mechanism is straightforward: upon your demise, your chosen beneficiaries will receive a predetermined sum.
The benefits of a term life insurance policy:
- Adaptable and economical safeguard;
- Your premium rates remain fixed throughout the contract’s term;
- Renewing your contract every 5 years enables customization according to your mortgage requirements;
- You have the option to convert your insurance policy to permanent life insurance without undergoing a medical examination;
- Under specific circumstances, you can augment your life insurance coverage by 25% up to $100,000;
- Opportunity to include additional features to your policy, such as child insurance, disability protection, or critical illness coverage.
Permanent life insurance
Whole life insurance offers enduring coverage for your family members.
With or without a monetary worth, you can opt to settle your insurance premiums for 20 years or until you reach 100 years of age.
The benefits of whole life insurance:
- Your premiums are stable and assured; Offered with or without a cash value.
- Provided with or without a cash surrender value, which grows over time and can be utilized at your discretion. Commencing from the 10th anniversary of your policy, you have access to the guaranteed accumulated sum;
- Depending on your circumstances, you have the flexibility to adjust the insured amount;
- You have the option to include additional coverage to your policy, such as child insurance, disability coverage, or critical illness insurance;
- This life insurance plan incorporates compensation in the event of severe disability at no additional expense.
SSQ Life Insurance provides three varieties of permanent life insurance coverage: Whole Life 20, Whole Life 100, and Term 100.
Whole Life 20
The Whole Life 20 insurance plan enables you to settle the insurance agreement after 20 years, ensuring lifelong security for your loved ones.
Whole Life 100
Whole Life 100 represents the ideal life insurance solution for entrepreneurs. It's tailored to assist in mitigating the financial uncertainties stemming from the unexpected departure of a partner.
Benefiting from a tax-free death benefit simplifies the continuity of your business and facilitates strategic share surrender planning.
Furthermore, individuals often leverage the assured surrender values post the 10th year of their policy as remuneration upon a partner's retirement departure."
Term 100 insurance
Term 100 insurance caters to the requirements of those seeking more conventional permanent life insurance.
Irrespective of your circumstances, Term 100 insurance is tailored for individuals seeking straightforward and economical extensive coverage.
Universal life insurance
Universal life insurance is a hybrid of insurance and a tax-advantaged investment tool. It aims to streamline your financial affairs while enhancing the worth of your estate.
The benefits of universal life insurance:
- You have the flexibility to adjust the insurance coverage level and premium payments within your policy;
- You have the option to either reinvest your accumulated funds or use them to pay premiums;
- You have the ability to incorporate additional provisions, like term or critical illness insurance, into your policy.
As a dual-component offering (life insurance and savings), universal life insurance adapts to your requirements.
Initially, you determine whether you prefer to pay your insurance premiums in an escalating or consistent fashion:
- A rising insurance expense implies that your initial premiums will be lower and will rise as you age, facilitating greater savings accumulation at the onset of your insurance policy.
- Conversely, a consistent insurance expense will remain constant throughout the years.
Likewise, you have the option to determine the manner in which the death benefit will be distributed to your beneficiaries upon your demise:
- A constant death benefit, indicating that the payout to your beneficiaries will match either your insurance coverage or the sum accumulated in savings, whichever is higher.
- This choice is advantageous for individuals with stable insurance requirements.
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