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Life Insurance

If you have loved ones --- Life insurance is as important as living.
As we move on with our life’s journey, complete education, get married, build families and start businesses, we come to realize more and more that life insurance is a fundamental part of having a sound financial plan. Depending on your type of policy, life insurance is fairly cheap, which means there’s no excuse not to get coverage now. Plus, over the years, you’ll find comfort in knowing money will be available to protect your loved ones in the event of your passing.

Term Insurance

Term life insurance is designed to meet your short-term needs. It covers a set period of time, generally 10 or 20 years, or even longer depending on your needs. This is the right choice for you if you want cheap coverage for a limited time. Recommended for people on a tight limited budget or older persons. Most often used for mortgage or business protection.

Plan Design:
• Term 10
• Term 20
• Term 100
• Level Term to age 65, 70 or 75

Other Features:
• Protected for a certain amount of time as per the specified duration.
• Usually the cheapest Life Insurance option.
• Comes up for renewal at the end of the specified duration at which time premiums increase due to increase in insured‘s age and inflation trends in the market.
• Conversion options: Can be renewed for the same term or converted into a permanent plan without medical evidence.

Whole Life Insurance

Whole Life Insurance allows you to spend your money smartly and ensures permanent protection for your entire life. You will secure lifetime coverage that is more cost-effective than Term Insurance in the long run.

This is the right choice for you if you want to remain insured no matter what happens to your health.

Specified duration at level premiums (premiums will NOT increase):
• 10 Pay
• 20 Pay
• Life Pay

Contains Guaranteed Increasing Cash Values
The “Guaranteed Cash Value” reserve is available to you if you decide to surrender/terminate your policy. Alternatively you can also borrow (take out a loan) your cash values.
Depending on your needs, this can be purchased as a stand-alone product or alongside other life and health insurance products. You can opt for additional add-ons such as:
• A Term Coverage
• A healthcare element such as Critical Illness
• A disability benefit
• Accidental death and disability coverage
• Accidental fracture coverage
• Children's insurance



Universal Insurance

Universal Life Insurance is a flexible product that offers a two-tiered advantage:
1. The insurance part provides coverage customised to suit your needs at any point in your lifetime.
2. The investment part allows you to grow your savings in a tax-free shelter.

This is the right choice for you if you want to leave a large inheritance for your loved ones or if you want to divert your savings into another wealth generating tax-free account.

Plan Design:
• Flexible payment options*
*Premiums are not guaranteed depending on projected interest rate.
• Depending on your needs, this can be purchased as a stand-alone product or alongside other life and health insurance products. You can opt for additional add-ons such as:
o A Term Coverage
o A healthcare element such as Critical Illness
o A disability benefit
o Accidental death and disability coverage
o Accidental fracture coverage
o Children's insurance

Mortgage Insurance

Don't "Bank" on Banks!

Do you know that Mortgage Insurance from banks do not cover most of the important requirements.

Considering the prices of houses in Canada, it is vital to have a backup to ensure that your family continue to enjoy your best gift.
Mortgage insurance is one of the most cost-effective solutions (better than the option of Bank’s Mortgage). It provides you many more additional features like:
• Ownership of Policy
• Control over Beneficiary selection
• Constant coverage, if circumstances change
• Flexibility to change period
• More options when you decide to sell your house etc.



Key Person in Business

If your business is highly dependent on the contribution of a key business member then Key Person Life Insurance should be an important option to consider. It protects the continuity of your business in the event of a death of a key business member - the proceeds could be used to help manage issues such as:
• Recruiting and training the key person’s replacement which is often costly and time consuming.
• Repaying debts to creditors.
• Reassuring clients and employees that the business will continue to function.







Charitable contributions

Charitable Giving through insurance – give a special gift to a deserving organization.

Set up the policy with the charity of your choice as the beneficiary. This allows you to lend your support by ensuring a size-able donation is made to a charitable organization that YOU consider important.

In addition you can benefit from significant tax advantages allowing you to receive a tax credit depending on the way the policy is set up.







Take care of them as you love them

Ensure your family’s Financial Security

This will be one of the best gifts you give to your loved ones. . .

Syed Qamar Raza

What our Clients say?

Five Ways truly understands and knows the depths and breadths of the industry sector, they offer services for. In lay man terms, they know what they are doing. A very professional organization and a very friendly, knowledgeable and efficient staff.
- Syed Qamar Raza

Five Ways offers excellent Group Insurance services. Always courteously and promptly replies to our questions and very helpful in every way.

Astrid Grzybala Comptroller, AVG (OEAM) Inc, Ontario

Five Ways is always there for me & my family. Their team is very friendly, courteous and efficient. I would gladly recommend Five Ways to my friends or anyone who might be interested in buying life insurance.

Zahid Alibhai - President, Industrial Textiles

I would recommend Five Ways Financial to anyone who might be interested in buying life insurance without any hesitations. Mohammed Jaffer personally handled my account and carefully attended to my needs. I was very impressed with the affordable cost of my insurance policy.

Victoria Franesca

Your service and continuous support in obtaining my life insurance policy has been excellent!

Nick Simone

My wife and I decided to choose Five Ways Financial because of their honest reputation in the community. They worked with us to find the best package to fit our needs and future. Our Five Ways Representative made a personal connection with us, allowing us to feel secure in having them handle our financial future. We appreciate that we can contact our representative regarding any questions or concerns and with confidence we know they will give us honest, professional advice that is best for our future.

Ali-Hassan Panju

Trust and word of mouth encouraged me to select Five Ways. I found them to be flexible, offer exceptionally friendly service, transparent with a client first attitude. Support is awesome as all questions and concerns are responded to in a very efficient and effective way with proper informative details. Five Ways will advise and align policies based on client needs.

Bineet Lathia

We have been customers of Five Ways Financial for over twenty-five years. We have always been satisfied with the great customer service we get from them. They are always friendly, courteous and take the time to explain everything in detail on any questions we may have. I will continue to use Five Ways Financial for all my Financial and Insurance needs and have no hesitation to recommend them to family and friends.

Dinesh Jindal

I got the reference of Five Ways Financial from my colleague. I found them very professional. They explained me all possible options for my insurance need. They cleared all my doubts and helped me to choose the best one.

Sanjeev Dhussa

Company Information:

Five Ways Financial
3 Glenayr Road
Richmond Hill, ON
L4B 2J5, Canada

Contact Details:

E-mail address:
info@five-ways.com

+1 (905) 918 0099

Mobile: +1 (416) 562 2366