Living benefits

While life insurance is protection for your loved ones after you pass away, living benefits insurance protects you and your dependents in the event that you suffer a change of health that impacts your ability to financially provide for your family. Living benefits insurance typically covers three types of insurance protection.


Gulf and Fraser Insurance Services Ltd. is a wholly-owned subsidiary of G&F Financial Group. This website is for informational purposes only and is not intended to provide specific insurance, financial, investment, tax, or other advice to you, and should not be acted or relied upon in that regard. We encourage you to seek personalized advice from a qualified professional. Insurance products are underwritten by certain licensed insurance companies and are only available throughout British Columbia, Canada


Disability insurance works by providing financial protection within a percentage of your monthly income, to a maximum of 66.66%. If you become disabled, you will continue to receive a monthly income to support ongoing costs, helping you maintain your standard of living. Disability insurance is a product in which rates are impacted by a number of factors, including occupation, lifestyle, etc. The lower your risk is, the lower your rates will be.

Critical illness

Critical illness insurance pays out a one-time lump sum payment in the event of a specified medical event. Unlike the regular monthly payments under disability insurance, critical illness insurance is designed to provide financial support to help you overcome very specific medical circumstances.

Long term care

Like disability insurance, long term care insurance also provides a regular monthly income to support you, if you require assistance with daily tasks, such as meals, bathing, managing medications, etc. Long term care insurance can be individual or joint coverage, with a spouse. In the event that you require transfer to a long term care facility, the monthly payouts under long term care insurance are doubled.