Individual insurance planning is the process of reviewing your personal circumstances, financial responsibilities, and existing insurance coverage to determine where Life, Critical Illness, or Disability Insurance may form part of your overall protection strategy. Existing coverage can include both personal insurance and insurance available through an employer-sponsored Group Benefits plan. Individual insurance can then be used to supplement existing coverage or provide protection based on your personal needs and circumstances.

Death, critical illness, or disability can create significant financial pressures for you and your family. Insurance can provide financial support when an insured event occurs, helping replace lost income, cover expenses, preserve savings, and meet ongoing financial obligations. Individual insurance also provides an opportunity to establish coverage based on your personal circumstances rather than relying solely on coverage available through your employer. It can supplement existing Group Benefits coverage and provide personally owned protection that can remain in place independently of your employment, subject to the terms of the policy.

The first step is understanding what coverage you already have. This may include Life, Critical Illness, or Disability Insurance through an employer-sponsored Group Benefits plan, as well as any personal insurance policies you already own.INSURANCE TRACKERDOWNLOAD A simple tool to help you organize and track your life & living benefits coverage in one place. Disclaimer: This resource is provided for organizational purposes only. It does not constitute insurance, investment, financial, legal, tax, or other professional advice, and no result or outcome is guaranteed. EBC’s downloadable resources are intended to be saved and used on your own device; information you enter into them is not submitted to or stored by EBC. Please verify information and seek appropriate professional advice before making any decisions. Once your tracker is complete, Contact us to review your existing coverage and insurance needs. As part of that review, we consider factors such as: Income and ongoing financial obligationsMortgage and other debtDependants and family responsibilitiesExisting savings and other financial resourcesIncome replacement needsFuture financial obligations and goals We can then help assess whether your current Life, Critical Illness, or Disability Insurance is appropriate for your circumstances, including whether coverage may be insufficient, excessive, or otherwise no longer aligned with your needs.

The cost of individual insurance can vary significantly depending on factors such as the type and amount of coverage selected, your age and health, smoking status, occupation, and the overall design of the policy. There is no single benchmark for what an individual should expect to pay. Life, Critical Illness, and Disability Insurance are priced differently, with premiums determined by the coverage selected and the applicable underwriting factors and policy features. Final premiums and available coverage are determined by the insurer and may differ from the initial illustration or estimate based on the results of underwriting. Consultant Compensation: Our compensation is paid by the insurer in connection with the insurance policy placed and is disclosed transparently to the client.

Individual insurance should be reviewed periodically and whenever there is a significant change in your personal, family, or financial circumstances. This may include: A change in income or employmentMarriage, separation, or divorceThe birth or adoption of a childA change in dependants or caregiving responsibilitiesPurchasing a home or taking on significant debtA significant change in savings or other financial resourcesA change in existing Group Benefits or personal insurance coverageA change in your beneficiaries or estate planning arrangements Regular reviews help ensure your Life, Critical Illness, and Disability Insurance continues to reflect your current circumstances, financial responsibilities, and insurance needs.