PSAC Service Beyond Expectations
Enhanced Coverage
Critical Illness
PSAC for life
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Couglin & Associates Ltd.

If you're 50+...

Why you may need life insurance after age 50

If you're age 50 or older, life insurance can continue to provide you with the tools you need to protect your hard-earned assets as well as those of your heirs.

Here are some ways the PSAC Enhanced Coverage life insurance program can actually help you save money and protect your estate at the same time:

Estate protection: If you intend for your children to inherit a family cottage or other assets, you could also be passing a major tax obligation to them. One way to cover this potential expense is through life insurance. At death, your insurance proceeds pass tax-free to your named beneficiaries – a great way to ensure that your heirs have the resources available to inherit family assets and meet estate tax obligations.

Charitable giving: Do you have a favorite charity, religious or community organization that could benefit from a bequest from your estate? By naming that organization as a beneficiary of your PSAC Enhanced Coverage policy, you can support that group financially and generate a tax credit for yourself and ultimately, your estate. Support your community and save taxes at the same time through a charitable gift of life insurance.

“Fair” settlement of your estate: How much is family harmony worth? If you have assets or property that cannot be easily divided, or that you may wish to pass on to only one person, life insurance proceeds can ensure that your other heirs are treated fairly and equitably when your estate is settled.

Education fund for grandchildren: What better legacy to leave your grandchildren than a university education? Your PSAC Enhanced Coverage life insurance policy can be designed so that the proceeds are held in trust until your grandchildren attend university or reach a specified age.

PSAC Enhanced Coverage:

•  Estate settlement

•  Charitable giving

•  Inheritance protection

•  Education savings

•  Financial security when your family needs it most

PSAC Enhanced Coverage Application Form

(PDF 126 KB)