Life Insurance

Life Insurance

Life insurance is the most important insurance for you and your family.

When we buy a car, we make sure the insurance policy is up to date. We do not think twice about our car’s insurance. So worried about a $20 000-$30 000 car?
What about a good job?
If lost due to death?
How can we protect our family?
Can we arrange for mortgage payments, pay off debts and send children to university?
If the income is lost permanently,

The answer, of course, is LIFE INSURANCE

Life insurance types

Life insurance is mainly of three types.

TERM (10-15-20-25-30 and Term to age 80)
PERMANENT (100 YEARS)
LIMITED PAY PERMANENT (20 YEARS)

TERM INSURANCE

Term Insurance is insurance for a specific period of time so it is called TERM INSURANCE
It has an expiry date.
It is cheaper but becomes costly with age.
It has no cash value.
If a person dies within that TERM, the claim is paid to the family.
But we can renew it & convert it into Permanent Insurance without medical, although, premiums will be higher at the current age.

Term insurance provides necessary protection and we can always plan to buy permanent insurance later

PERMANENT INSURANCE

It is an insurance for life or 100 years (Single most important feature)

It does not expire and no need to renew
You are insured till death
Premiums are lower at younger age
Premiums never change
Can be a combination of permanent & term also
(UL & TERM)

LIMITED PAY INSURANCE

Insurance is permanent
Do not pay for life
Policy is paid in 10-15-20 years
Insurance will last for life
There is a cash value

You can take back money *conditions apply

Contact us to know more