Beneva Review

About Beneva Insurance

LaCapitale and SSQ came together to formulate Beneva Inc. Beneva is backed by over 75 years of executive expertise. The union is just about fully integrated, and previous policyholders at both LaCapitale and SSQ will now have to submit their claims to Beneva. However it is strongly worth clarification that all disability claims via cheque are made payable to La Capitale Financial Security Insurance Company, all other claims are made to Beneva Inc. 

Beneva offers insurance for groups or individuals. Insurance types offered at Beneva are home and auto, and life and health. The team at Beneva is dedicated to assisting you budget, save and afford. Visit the website for helpful tools such as a learning hub with updates on the services and products offered, and a tips and tricks sections supplied with informative blogs.

Beneva Key Information

How Do I Purchase a Plan with Beneva?

To purchase a plan with Beneva, visit their website. You can also connect with an advisor in person in order to help you purchase the insurance plan best suited for you. 

How Can I Reach Beneva by Telephone?

Contact Beneva by phone toll-free at  toll-free number 1-800-463-5549 ext. 44126.  

How Do I File a Claim with Beneva?

Policyholders are able to file a claim with Beneva directly on their website, here, or by phone using the toll-free number 1-800-463-5549 ext. 44126.

Beneva Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:

Why Beneva Could Be Right for You:

• The merge of two dignified, well-established company brings with it decades of executive expertise 
• Strong financial assets
• Straight-forward, modern website that is not as busy as other preexisting insurance company websites

Why Beneva May Not Be Right for You:

• It is reported that the customer service department at Beneva is not up to par
• Still a new company finding their footing
• Higher than average premiums

What Does Beneva Insurance Offer?

Beneva Insurance provides a range of coverage options designed to safeguard your financial future. Their offerings include comprehensive life insurance, offering peace of mind to your loved ones. Additionally, they provide critical illness coverage, ensuring financial support during challenging health situations. Moreover, their disability insurance offers protection against income loss due to disabilities. However, it's essential to carefully evaluate their terms and reputation before making a decision.

Term Life 

Beneva Insurance offers affordable term life insurance at a fixed premium. Term life insurance is a more affordable option than permanent life insurance if you wish to get started on investments. Term life insurance can later be converted to permanent life insurance. Term life insurance from Beneva insurance is available at 10,15, 20, 25, 30 or 40 years, and policyholders are able to switch to a longer term before the contract expires. There are also option riders such as critical illness, disability and children’s insurance.

Permanent 

Permanent life insurance from Beneva Insurance is a trusted investment option from Canada’s fourth largest insurance company. With permanent life insurance, premiums remain fixed, and you remain insured for life, despite changes in your health. You’ll have the option to pay the premiums for a set number of years, and to pay throughout your life. You also may have the option to withdraw cash if you need it. You also have the option to add riders such as critical illness, disability, and children’s insurance. 

Universal Life

Beneva Insurance offers a competitive insurance product. Universal life insurance from Beneva is equipped with a flexible premium that changes with your needs. You get to choose your coverage amount and watch your savings grow. Savings are put aside tax-free. You can also withdraw cash if needed, but you may be charged tax for this. There is also a universal life option for children so that they can start investing in their early days. This policy has the option to add riders such as critical illness and disability. 

Critical Illness 

Critical Illness from Beneva Insurance is a product there to protect you from the unpredictable. With Beneva Critical Illness Insurance, you’ll have peace-of-mind when you need it the most so that you can focus on getting better and not have to worry about financial strain. Critical illnesses such as cancer, tumor, cardiovascular diseases, neurological disorders and some childhood illnesses are covered with this plan. You can opt for a plan that covers more illnesses if you wish. 

Disability Insurance 

Beneva Insurance offers affordable disability Insurance that allows you to put your health first. Disability insurance will supplement your income in case you’re unable to work because of your disability or illness. Add disability insurance to your existing group insurance in case your work’s insurance doesn’t cover all your needs. Choose the benefits and coverage that best suit your needs.