There are different types of insurance that can protect you, your assets or your family in various situations. Here is a list of some types of insurance.

Automobile / Car Insurance
If you drive a vehicle in Ontario, you must have automobile insurance - it's the law.

Critical Illness Insurance
Critical illness insurance is a form of health insurance that provides a lump-sum payment should you become seriously ill.

Disability Insurance
If you must stop working because of an illness or injury or a permanent disability, this insurance provides you with a source of income and/or medical home care.

Health Insurance
In Canada, the government provides basic health care to those who live here and who meet the eligibility requirements. You may need to buy private health insurance if you are not eligible for OHIP or if you need to pay for services that OHIP does not cover.

Homeowner or Tenant Insurance
If you are a homeowner, you should buy this type of insurance to protect your home (structure) and its contents. Depending on your situation, you may also get property insurance, title insurance, and/or mortgage insurance. If you are a tenant, you should buy tenant insurance (rental insurance) to cover your personal assets and protect yourself against damages to your apartment or others’ apartments (for example, if a fire spreads from your apartment to your neighbour’s).

Life Insurance
Life insurance provides income benefits or a one-time payment to your survivors (for example, your children, spouse or other family members) when someone dies.

Travel Insurance
Travel insurance covers the cost of medical services that you use outside of Canada and that exceed the amount covered by provincial health insurance (OHIP). Travel insurance can also cover travel expenses caused by cancellations, lost tickets, lost or stolen passports and more.

There are 5 basic types of personal insurance, and each serves a different purpose.

1. Life insurance
Pays a tax-free, lump-sum amount to your named beneficiaries upon your death
Ensures your named beneficiaries can pay off your debts and maintain their standard of living after you die

2. Disability insurance
Provides a monthly payment that replaces part of your lost income if you’re unable to work because of illness or injury
Allows you to maintain your standard of living if you are disabled and unable to work

3. Critical illness insurance
Pays a lump-sum amount on the first diagnosis of a serious medical condition (e.g. cancer, heart attack) covered by your policy
Allows you to cover additional costs associated with an illness, or use the payment for any other purpose during or after recovery

4. Long-term care insurance
Provides cash payments if you require care in your home or in a private or government facility
Allows you to cover some or all of the costs of long-term care instead of using your savings

5. Health insurance
Covers a portion of health care costs not covered by your provincial health insurance
Gives you and your family affordable access to the health care you may need – at home or out-of-country

You can have different kind of Insurance as per different situations:

Insurance for Seniors
Non-Medical Insurance
Permanent and Whole Life Insurance
Super Visa Insurance
Term Life Insurance
Universal Life Insurance
Visitors to Canada Insurance