How term life is sold in the market place
When should you consider taking out term life insurance? Term life insurance is ideal for covering debts or other short-term insurance needs in the event of your premature death. For example: • To cover the education costs and ensuring the financial security of your kids until they leave home. • Pay off the mortgage on […]
When should you consider taking out universal life insurance?
Universal life insurance not only includes the traditional insurance coverage offered under all life insurance plans, but also tax-advantaged investment possibilities. Before taking out universal life insurance: • you must have a need for life insurance coverage • be debt-free, and • have no more RRSP contribution room. Generally, universal life insurance is intended for […]
Universal Life Insurance: A Policy worth exploring
• Is the savings component required? In the event of death, are your savings payable to your beneficiaries in addition to the insurance amount? • What kind of investment accounts are available: variable-term, guaranteed investments with simple or compound interest, index-linked investments, etc.? • Is there a guaranteed minimum interest rate? • Can you diversify […]
Life Insurance
Are you confused about which insurance plan you should buy? Please read this……………… Comparison of Basic Insurance Policies Type Characteristics Uses Whole life Low costs, cash value, premiums payable for lifetime (age 100). Young single persons and young, married persons for protection, with some saving, and as an emergency source of funds. Universal […]