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LIFE INSURANCE: |
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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. |
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TERM INSURANCE: - |
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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. |
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WHOLE LIFE |
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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. |
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UNIVERSAL LIFE:- |
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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. |
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| 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. |
