Drover Financial offers a full range of products and services to meet your individual needs.
PERSONAL LIFE INSURANCE of one type or another is a key element in your financial security. It's also important to those who survive you, whether you have a family, are single, or are older and living alone. What Life Insurance you have, or should have, depends on your situation and on your plans for the future.
There are two basic types of Life Insurance: Permanent Insurance that provides protection for life; and Term Insurance that provides insurance coverage for a specific number of years. Both types pay a death benefit if you should die with the policy still in force.
People often delay buying life insurance, thinking that they can buy it later. Life insurance is medically and financially underwritten, which means that your eligibility to purchase life insurance along with the amount of protection you can purchase are based on your current health, medical history and ability to pay.
If your health deteriorates or as you age, you may find it difficult or expensive to purchase life insurance
At Drover Financial we know the value and understand the need for life insurance. We provide individuals with superior service by working closely with their accountants, lawyers, and others, if needed. We offer Life Insurance Products to fit all situations.
Family Term provides peace of mind for families in one highly flexible, very affordable policy.
Note: Both Business Term and Family Term can be used as Mortgage Insurance.
Term-to-100 policies are often seen as Permanent Insurance but their main characteristics are similar to other Term Insurance policies. Most Term-to-100 plans don't build cash values or pay dividends. They provide a death benefit to age 100, if the policy is kept in force, and have level premiums, regardless of changes in age or health.
Basic Term Insurance policies are generally for a specified period, such as one, five, 10 or more years, or to a specified age. These contracts tend to have lower premiums while the life insured is young, but when renewed for an additional term period, the premiums can rise significantly. Term policies are ideal to cover large obligations over a short period when funds available for insurance are small. Most term policies can be converted to a permanent policy under certain conditions.
Universal Life is a permanent interest-sensitive policy that is more flexible and is divided into basic insurance and an investment account. You can decide how much goes into each and increase or decrease your premiums and the death benefits within some limitations. Premiums and benefits can be readjusted at specified times, depending on your insurance needs and on what choices you make in the investment side of the policy.
Variable Insurance contracts are another variation of Permanent Life Insurance. Premiums are usually guaranteed in these policies; however, the cash values vary based on the performance of an investment fund or other index. The death benefit consists of one part that is guaranteed and a second part that varies, depending on the fund's performance, subject to a guaranteed minimum.
Whole Life is a common permanent policy that provides a guaranteed death benefit, expressed as the face amount, for premiums that are usually guaranteed to remain level regardless of age or health changes throughout your life. Whole Life policies often pay dividends. These policies accumulate a cash value that may be borrowed against, used to continue coverage if premiums are missed, or withdrawn.
Because of the many options available in life insurance policies, a knowledgeable, trained Life Insurance Advisor from Drover Financial is invaluable in finding the right policy to meet your present and future needs most effectively.
Personal Health Insurance is protection against medical mishaps, injuries and illnesses that you may experience as you grow older. Like any form of insurance, health plans involve some element of risk, since you can never be sure that the money you spend on the coverage will go directly and completely to medical services. On the other hand, without insurance, you run the risk of having to pay astronomical medical bills on your own.
With the rapid changes in provincial health care plans, it is important to ensure you have affordable protection against unexpected medical expenses.
Many routine health care expenses such as dental services, prescription drugs, prescription eyewear, and registered specialists and therapists are not covered by your Government Health Insurance Plan. And these gaps in provincial plans continue to grow. If you're without an employee group plan, these expenses can come out of your pocket. And should an accident or serious illness occur, additional medical expenses might be difficult to pay.
And did you know that the premiums for your individual health plan are eligible medical expenses under the Canadian Federal Income Tax Act?
We offer Individual health Insurance through Blue Cross – Options & Options Plus and Manulife Financial – Flex Care. For additional information or a quotation please contact our office today.
Personal Travel Insurance - Whether you’re traveling outside your province for a few days or out of the country for a few months, Drover Financial offers Personal Travel Insurance.
Travel Insurance is designed to cover losses arising from sudden and unforeseeable circumstances.
Out of Canada emergency medical expenses are not generally covered by your provincial medical plan and these expenses can be financially overwhelming. While traveling outside your own province of residence in Canada, some medical and paramedical expenses may only be partially covered by your provincial health insurance program. Whether you travel frequently or occasionally, there is a plan that’s right for you. Depending on your needs, you can opt for coverage on a daily or annual basis.
The information contained throughout our website is for Canadian residents only and does not consititute an offer to sell or a solicitation in any foreign jursidiction, or in any Canadian jurisdiction where Drover Financial Representative's are not licensed to sell.
