From Moncton to the Bay of Fundy coast, the plans that fit seasonal work, rising housing costs and the family cottage, from an advisor licensed in New Brunswick.
Whether you are a seasonal worker in the fisheries, a government employee in Fredericton or a retiree in Saint John, you don't have to take whatever the bank offers. You can compare the whole Canadian market from home.
Pankaj Bhatia is licensed in New Brunswick and compares life insurance from 8 insurers, including Moncton-based Assumption Life, by phone, Zoom or WhatsApp. Young families usually choose Term 20 or Term 30; retirees choose whole life, Term 100 or final expense. Since June 12, 2026, probate tax on estates over $100,000 is about 1.5%, and a policy with a named beneficiary stays out of it.
Three common situations, and the coverage that usually fits each one.
Fit: a personal Term 20 or Term 30, with group coverage as a top-up.
Fit: Term 20 or Term 30, sized to the mortgage and the years until the children are independent.
Fit: whole life, Term 100 or final expense insurance with a named beneficiary.
An Act to Amend the Probate Court Act (SNB 2026, c. 12) took effect on June 12, 2026. For estates over $100,000, the rate went from $5 per $1,000 (0.5%) to $15 per $1,000 above $100,000, about 1.5%.
| Value of the estate | Probate tax since June 12, 2026 |
|---|---|
| $20,000 or less | $200 |
| $20,000 to $100,000 | $200 plus $5 per $1,000 above $20,000 |
| Over $100,000 | $600 plus $15 per $1,000 above $100,000 |
Life insurance with a named beneficiary is paid directly to that person and never enters the estate, so it isn't counted. That makes the beneficiary line on your policy worth checking now. A policy payable to "estate" adds its full value to the probate calculation and waits for the estate to be settled.
An estimate from the published rates. Some assets, such as jointly owned property, may also pass outside probate. Ask a New Brunswick lawyer about your own estate.
You have access to the whole Canadian market without leaving your living room.
Branches and captive agents can often sell only their own company's products. Pankaj compares iA Financial Group, Empire Life, Foresters, Co-operators, Wawanesa, BMO Insurance, Equitable Life and Assumption Life.
General brokers often focus on car and home insurance. Pankaj specializes in life, critical illness and Super Visa insurance: the fine print, the medical definitions and the tax side.
Zoom, phone or WhatsApp, after the children are in bed or on your lunch break. No drive into town.
E-signatures and secure policy delivery to your email. Moncton, Saint John, Fredericton or Miramichi, the process is the same.
The three main types of individual life insurance, and when each one fits.
| Type | How long it lasts | Cost | Usually used for |
|---|---|---|---|
| Term life (10, 20, 30 years) | A set number of years; often renewable | Lowest to start | Mortgage, young children, income replacement |
| Whole life / Term 100 | For life | Higher, but premiums are fixed | Legacy, estate costs, probate and tax at death |
| Final expense | For life, smaller amounts | Depends on age and health | Funeral and final bills |
Compare lengths in Term 20 vs Term 30, or see term vs whole life.
He also looks for rate breaks and for the features that matter, where they fit: guaranteed insurability (buy more later without a medical), waiver of premium (premiums paid if you become disabled) and an accelerated death benefit (part of the benefit paid early if you become terminally ill).
Yes. Pankaj is licensed in New Brunswick, as well as Ontario, Alberta, British Columbia, Manitoba, Saskatchewan and Nova Scotia.
Insurance agents in New Brunswick are licensed by the Financial and Consumer Services Commission (FCNB). He works with New Brunswick clients by phone, Zoom or WhatsApp, with online applications and e-signatures.
Yes. Since June 12, 2026, estates over $100,000 pay $600 plus $15 per $1,000 above $100,000, about 1.5%.
Before the change, larger estates paid $5 per $1,000 (0.5%). On a $1 million estate, the fee rose from $5,000 to $14,100.
Not when you name a beneficiary. The benefit is paid directly to that person, outside the estate, so no probate tax applies to it.
If you name "my estate" or no beneficiary at all, the money goes into the estate and is counted for probate. Check the beneficiary on every policy you own, including group coverage at work.
Not on its own. Group coverage can end between contracts or when you leave the job, while a personal policy stays in force all year.
Many seasonal workers keep their group plan as a top-up and own a personal term policy as the base.
Often enough to pay off the mortgage and replace several years of income. For many families that is around $500,000 or more.
Term 20 or Term 30 is the usual choice because it runs until the children are grown and the mortgage is paid. Use the needs calculator to get your own figure.
No. You can buy from any insurer licensed in New Brunswick, through any advisor licensed in the province.
An independent advisor compares several insurers. A bank branch or captive agent can usually offer only its own company's products.
Usually whole life, Term 100 or a small final expense policy, depending on whether the goal is a legacy, estate costs or the funeral.
Smaller policies often need no medical exam. See life insurance for seniors.
Yes. Assumption Life, a mutual insurer founded in 1903, is headquartered in Moncton, and Pankaj represents it.
He compares Assumption Life with the other insurers he represents, so you see the local company next to the national ones.
Insure In Canada Inc. · Mississauga and Cambridge, Ontario · Licensed in Ontario, Alberta, British Columbia, Manitoba, Saskatchewan, New Brunswick and Nova Scotia
Pankaj works with New Brunswick families remotely, from the first needs call to the e-signed application. Distance is no longer a barrier to good advice: he has 11 years of experience comparing life insurance across Canadian insurers.
Call 647-640-2222 · WhatsApp · info@pankajbhatia.ca · About Pankaj
For information only; not financial, tax or legal advice. Probate tax figures come from the Government of New Brunswick and may change; confirm with the probate court clerk or a lawyer. Policy terms are set by the issued contract.