Life Insurance

LIFE INSURANCE:

  We deal with most of the reputed Insurance companies in Canada, and NOT all has the Best insurance, namely TERM INSURANCE, WHOLE LIFE & UNIVERSAL INSURANCE and also the selection of Insurance company will vary from client to client and the type of coverage sort. Now let us understand what is the above said term or name means to an average person.
 

TERM INSURANCE: -

  This type of Insurance can be easily compared to your car insurance. The Client keep on pay the same premium for one year in the case of Car Insurance but for Term Life Insurance the period is longer, the most sort period is 10, but one can buy 20, 25, 30 or Term to 100 and for this period the premium remains the same and during the period of the coverage, if the insured die then the beneficiary is paid the coverage amount, and policy end. This is a very simple kind of policy and very easy to understand and is very commonly used to meet your temporary needs such as Mortgage or short term income protection need.
 

WHOLE LIFE

  This type of insurance is preferred by clients who wants to have guarantee and would not like to have changes and its very clearly spelled out in the policy what you will have at given period of time in future. This type of policy is prefer based on the cash value and is for life normally all policy is to Age 100 of the insured and the cash value normally equals the face amount of the policy. The premium is higher than the term policy but the client is paying for cost of insurance and also towards the cash value and the best part the premium generally does not change during the life of the policy. The most popular type in the whole life policy is the 20 Pay, which means that the premium is paid up in 20 years and the policy will continue till age 100 of insured. But there are various other term policies, such as 15 pay, till age 65 pay, to age 100 pay.
 

UNIVERSAL LIFE:-

  This is the latest type of policy and the structure is a combination of term insurance and investment. This type of policy is the most popular and sold more in Canada than the other two types. This type of policy is very flexible in nature and can be structured to suit your need such as Income replacement, Mortgage, Education, Final Expense, Retirement, or Estate Planning. It’s very important that the advisor understand fully your need and also your affordability. This one insurance can take care off all your insurance need if it is structured properly.
   
To know more about the program give us a call at 416-283-8899 and one of our friendly customer service representatives will put you in contact with a authorized representative.