When you are thinking of getting a life insurance policy, you must realize that it is a legal document which you should know very well before the purchase.
Take your time in reading the document and ask your financial advisor questions until you are satisfied with your plan. Here are the things you should look for.
Convertible term life insurance offers the best of both worlds. You can cover your short-term needs with the term life policy, and then make the switch to a permanent whole life policy if those needs change. Here’s why Convertible Term Life Insurance can be the best option for your first time life insurance purchase.
Purchasing life insurance is perhaps one of the most important financial decisions you will make for your financial security.
Not only does it protect the loved ones you will leave behind, but it can also be a useful tool well before then. While there are many things to take into account when purchasing life insurance, check out our list of some of the first six things to consider in this presentation when buying Life Insurance for the first time in Canada. Read more
If you closely go through your permanent life insurance policy, you will come across terms that sound similar, but mean different.
The list can include terms like cash value, face value, cash surrender value, account value, surrender cost, etc. The differences between these terms can be small but when pulling money out of your policy, they can make a huge difference.
The cash and the surrender value of your permanent life insurance policy are not the same. Let us see where the differences lie and how they matter when you cancel your policy early. Read more
Most Canadians today, understand the need for life insurance. Standing in 2020, more than half of the Canadian population owns some type of life insurance. However, the number of underinsured cases are still very alarming.
Remember, life insurance is not something you purchase for yourself — you buy it for the benefit of others. Regarding how much life insurance you need, most people make erroneous decisions.
Honestly, no one can give a universal answer to the question – “How much life insurance do I need?” Everyone is unique and everyone has different requirements. It is therefore easy to see why coverage and rates vary from person to person. Read more
Understanding the different pros and cons of a life insurance policy can be pretty intimidating, especially when you are looking for your first plan. A term life insurance plan can be an excellent fit, especially for young families on a budget looking to cover for a certain amount of time.
Term life insurance comes with four key advantages. Read more
With your growing responsibilities, it becomes increasingly important to protect your present as well as plan for the future. Life insurance is an effective financial planning tool that offers multiple benefits in terms of investment and protection.
But before buying a life insurance policy, it is important to be well equipped with the knowledge to choose the right plan as per your requirement and budget.
Make sure to keep the following points in mind when choosing the best life insurance plan in Ontario, Canada. Read more
By now, you have probably realized the importance of life insurance to protect the financial health of your family. Like all life insurance products, whole life insurance is designed to provide financial protection to the people or organizations that the individuals care for in the event of a death. Read more
Getting an affordable life insurance plan as a young adult may not be your topmost priority. After all, you are more likely to be healthy, single and not have a family that depends on you.
And then, with an entry-level job, you may naturally be on a tight budget. So why should you pay unnecessary premiums at this point in your life? Read more