Andy Nagpal

I show you strategies that will provide for your family when you are no longer here. I don't believe in a one-size-fits-all approach to insurance.

Do you provide for your family? Would you want to guarantee that your family is provided for after you die? That's what I do, show you strategies that will provide for your family when you are no longer here. Using specially structured life insurance strategies, your life insurance protection will be there when your family needs it.

My company, Sun Life Financial, specializes in Life, Health, Critical Illness, Disability Insurance and employee benefits... but we do so much more! Choosing the right insurance for your individual needs or business can be tricky. While you may know the basics about protecting your family, business and property, true satisfaction requires extending beyond the "bare minimum".

At Sun Life Financial, we don't believe in a one-size-fits-all approach to insurance. Instead, our insurance plans are tailored to your specific needs. Whether you're seeking coverage for 10 months, 10 years or a lifetime.

I can help you balance costs and benefits, weigh your options and develop a plan as unique as you are.

All it takes is a phone call and a few minutes of your time.

Whatever your questions, I'll answer them, so you can make informed decisions.

Let's create a plan that works seamlessly with your unique situation.

Protect your assets and your future ---

Call Andy @ 647-818-7966.
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[05/19/16]   Why Being Financially Unprepared for a Disability Could End Up Costing You

A recent poll conducted by RBC revealed a disturbing fact: 48% of Canadians said that they weren’t prepared to be off work due to a disability.

This stat shows that many Canadians still don’t take the threat of losing their income due to a disability very seriously. Many individuals, especially those from younger age groups, feel like they aren’t at risk from serious disabilities and don’t need to have contingency plans in case they are ever unable to earn an income due to a long-term disability.

Other working individuals assume that their employee health benefits plan and government health plan will take care of all expenses and replace their lost income should they ever be unable to work because of a long-term disability.

These assumptions couldn’t be further from the truth. According to Mark Hardy, Director of living benefits at RBC Insurance, nearly one-in-three Canadians will experience a period of disability lasting longer than 90 days during their working lives.

Hardy also explains that many employee health benefits offer limited coverage and do not cover 100% of the disabled worker’s lost income. Meanwhile, the government health plan usually doesn’t cover the cost of most medications and other expenses such as recuperative therapy, dietician consultations, exercise programs, home nursing, prosthetics, home care, child care, meal preparation and moving expenses.

So, what happens when you have to deal with a long-term disability that leaves you unable to work for an extended duration of time?

For starters, there’s the sudden drop off in your total income. If you are financially unprepared to deal with this monetary loss, you could lose the ability to afford the lifestyle you’ve created. This could include being unable to pay for your house, car and other regular expenses. If you are the primary earner in your family, losing or having a reduced income because of a long-term disability could cause financial burdens for the rest of your family as well.

The RBC poll cited above revealed that 78% of Canadians who go on long-term disability report that their finances are tight and they struggle to meet their daily expenses. 67% reported that their lost income causes financial strain on the other members of their household.

In order to cover their expenses, 29% of Canadians on long-term disability said that they needed to dip into their life savings. 34% said they had to take on more debt in the form of loans from banks, family and friends. 9% said that they had to cash in their RRSPs and leave themselves financially unsecured for their retirement years. 31% even said that because of their disability, their partner had to go out and find extra work in order to supplement the family’s lost income.

These figures show that Canadians often end up financially struggling along with the rest of their family if they become unable to work due to a long-term disability and have to deal with lost or reduced income.
This is where having disability insurance could prove to be crucial. In an event of a long-term disability that leaves you without your regular income, having the proper disability coverage could allow you to maintain your lifestyle, cover medical expenses and provide for your family while you recuperate.

Experiencing a long-term disability and recovering from it are stressful enough tasks on their own. Don’t add the financial burden of your lost income to your list of worries as well. Have a proper contingency plan in place and get disability insurance coverage, especially if you are primary earner in your family.

Life & Critical Illness Insurance questions

Types of Life Insurance

There are two major types of life insurance that you could own. The first is term life insurance which is a product that will cover you for as long as the term is. An example of term life insurance is Term 20 which will cover you for 20 years after which your premium rate would typically skyrocket.

The second type of insurance is permanent life insurance. Just like the name suggests, permanent life insurance will cover you for your entire life. There are three forms of permanent life insurance.

The first is whole life insurance. This combines a permanent life insurance plan with a savings component. The second is universal life where cash value can be separated from the life insurance coverage. The last type of permanent life insurance is called Term to 100 which offers the bare minimum of permanent life insurance.

For more information, Call Andy Nagpal @ 647-818-7966.

Life & Critical Illness Insurance questions

Dr. Barnard of South Africa, who did the First human Heart Transplant, invented the Critical Illness Insurance. For more information on Critical Illness Insurance, Contact Andy @ 647-818-7966

This chart just shows how important Critical Illness Insurance is for everyone. Please contact Andy for more details.

Dr. Barnard of South Africa who performed the first ever heart transplant surgery on humans. He helped create the critical illness insurance.

More people die of financial stress that comes with the illness than the illness itself. Remember to protect yourself before its too late. Contact Andy for more details

This is how universal life policy works. For more details, contact Andy Nagpal.

Are you prepared, in case something unfortunate happens? According to insurance statistics, a lot of people are not. For a 15 minutes no obligations appointment to find out if you are fully insured, contact Andy Nagpal

God forbids, if something happened to you, this is how much your spouse might need to raise your child other than final expenses, debts, mortgage, etc. Are you prepared in case something unfortunate happens? Call Andy Nagpal for more details.

[06/26/14]   Critical Illness Insurance

Critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied. The physical and emotional strain of a critical illness can be severe and when you combine that with the potentially damaging financial impact, the result can be devastating.

That’s where the critical illness benefit comes in—you are free to spend the money as you wish—such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering.

A critical illness can happen to anyone:
- It is estimated there are over 70,000 heart attacks in Canada each year.
- There are between 40,000 and 50,000 strokes in Canada each year.
- An estimated 3,075 Canadians will be diagnosed with cancer every week.

Conditions covered in Critical Illness Insurance:

Heart Attack
Coronary Artery Bypass Surgery
Alzheimer’s Disease
Aortic Surgery
Aplastic Anaemia
Bacterial Meningitis
Benign Brain Tumour
Heart Valve Replacement
Kidney Failure
Loss of Limbs
Loss of Speech
Major Organ Transplant on Waiting List
Major Organ Transplant
Motor Neuron Disease
Multiple Sclerosis
Occupational HIV Infection
Parkinson’s Disease
Severe Burns

For more Details, please contact Andy Nagpal @ 647-818-7966

For more info, Contact Andy Nagpal


Most people look at Life Insurance as an expense. Like auto and home insurance. If you go with a term policy, then that could be the case if nothing tragically happens to you during that time period. Why do you think term life insurance is so cheap? It's because it is almost never gets paid out. Either one stops paying the premiums or the policy terms out and you have to either purchase another one (if you are medically cleared) or you retire and feel you no longer need it. In this case, the answer is yes, it is an expense.

Has your financial advisor truly explained the difference between term and permanent life insurance? Did he explain the cash value in a permanent life insurance? A permanent life insurance product can truly be a savings vehicle while still protecting your family. Furthermore, it can be used in retirement! You work all your life to retire comfortably. You have your RRSP you can tap into (at age 65) and any other savings vehicle you have been using. Then you start to withdraw money in your retirement. Taxes will be taken out when you withdraw your RRSPs and you might do your due diligence to not withdraw at a rate that will leave you with much less money while you and your wife are still living. How much can you withdraw? Will you go with the 4% rule? Only withdrawing 4% from the accounts so that you will have enough money to live your life. What if I told you that you could withdraw money from your life insurance policy tax-free?

Depending on when you started the permanent life insurance, you could have 100's of thousands of dollars in cash value sitting right in your policy that you could borrow from. A whole life insurance product pays dividends and builds cash value over the life of the contract. You can borrow that cash and still keep the life insurance contract in force!! The death benefit might be little lower, but you would also have more cash to use in retirement. Maybe you can withdraw more money from your accounts in retirement and then if something were to happen to you then your spouse would get the Life Insurance and the money left in the accounts to live on. Or if both of you live into your 90's (quite possible nowadays) you then can start withdrawing money from your life insurance.

Please make sure you get all the details before making an important decision such as Life Insurance. It is not just an expense!! It could be a very important investment for your future.


Risk of Critical Illness compared to death. Are you prepared financially in case critical illness happens to you or your loved ones?

Chances of getting critical illness before the age of 65. Always remember, you should buy insurance before you need it, since you won't be able to buy when you need it.

Difference Between Critical Illness and Long Term Disability Insurance. Call Andy Nagpal for more info.

[06/22/14]   Why Buy Life Insurance?

Protecting Dependents

The most common reason for buying life insurance is to protect a person's dependents. If that person dies, his or her dependents have to deal not only with the loss of a loved one, but also the loss of that person's present and future income.

The tax-free, lump sum payment from a life insurance policy can replace the deceased person's earnings, pay debts and other liabilities, and cover education costs and daily living expenses of the surviving family members.

Preservation of the Estate

Another reason to buy life insurance is to pay any debts, tax liabilities and other estate costs to ensure that the estate's assets don't have to be eroded or borrowed against to cover these expenses.

For more information, please contact Andy @ 647-818-7966.


Mortgage insurance is offered to you by most banks and lending institutions when you buy a home or refinance your existing mortgage in Ontario. This type of mortgage insurance pays off the balance of your mortgage to the lending institution when the person listed on the mortgage passes away. This Type of Mortgage Insurance is Not The Best Choice.

The amount payable decreases with the balance of your mortgage but the premiums don't. The benefit gets paid to the lending institution rather than to the person you choose. This then becomes part of your taxable estate
The premiums might remain level throughout the term, but it will increase on the renewal of the mortgage.


A better choice would be private life insurance owned by you. It could be used to pay off the remainder of your mortgage and it also has many benefits which make it a better choice.

Some of the additional benefits to private life insurance are -

Provides protection for you and/or your spouse
Your choice of a specific period of time or your entire life
You choose how to allocate the proceeds
You can purchase as much insurance as you like; not limited to the amount of your mortgage
Benefit and premium can be guaranteed to never go up or down for the term of the policy
You choose the beneficiary and the proceeds are not taxable.

For more information, please contact Andy @ 647-818-7966.

Call Andy Nagpal for more details

Stats of Critical Illness. Benefits paid and time from policy issued. It can happen to anybody at any time. So be prepared.

Launched on June 22, 2014

Launched on June 22, 2014

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