Whole Life Insurancee
There are two types of plan:
- Participating Whole Life Insurance
- Non-Participating Life Insurance
Both plans are permanent and have some unique features:
- Guaranteed cash values
- Dividends (Only in case of Participating life insurance)
- Automatic premium loan
- Paid-up additions
- Extended Term Insurance
- Dividends paid as cash, etc.
Benefits of Whole Life Insurance:
Whole life insurance is a good option for all stages in life. You choose the payment period, you are insured for your entire life and it also provides surrender value.
For your Family:
Nothing can replace the loss of a loved one. But it’s comforting to know that your loved ones will have the necessary financial support to help them carry on, no matter what. Whole life insurance protects your loved ones’ financial security for their entire lives.
For your Children:
Insurance coverage is also a precious gift to give to your children. By subscribing to coverage at a low price because of their youth, you guarantee them coverage that they can adapt to their needs as they get older.
For your Business:
Your business is your life’s investment, so you want to protect it. To guarantee its continuity, either by financing the purchase of a partner’s shares or giving your heirs the necessary time and assistance to find the right buyer, whole life insurance helps to avoid unpleasant surprises and helps keep your business prosperous.
Does Smoking Affect your Life Insurance?
According to a report by the Canadian Cancer Society, smoking generates a massive $6.5 billion in healthcare costs in a year.
What Every Family should Know about Life Insurance
It’s a very wise decision to protect your family with a life insurance plan. But that’s not where your job is done. There are some things that your family needs to know about your insurance and theirs.
Which Type of Life Insurance Is Perfect for You?
By now, a fair number of Canadians have started realizing that life insurance is necessary for the protection of their family’s financial security. But how many of us know which type of insurance to buy? Not many, I suppose.