Category Archives: Universal Life Insurance
Life Insurance Myths Debunked: Separating Fact from Fiction
When it comes to life insurance, there are a lot of misconceptions and myths that can cloud your understanding of this important financial tool. These myths can prevent people from getting the coverage they need or cause them to waste money on unnecessary policies. In this blog, we’ll debunk some of the most common life insurance myths and help you separate fact from fiction.
Myth #1: I don’t need life insurance if I’m young and healthy.
Fact: While it’s true that the younger and healthier you are, the less expensive life insurance will be, that doesn’t mean you don’t need it. Accidents and unexpected illnesses can happen to anyone at any age, and if you have people who depend on you financially,
How to choose the right life insurance policy for your needs
Choosing the right life insurance policy can be a daunting task, but it’s a crucial aspect of financial planning. A life insurance policy can provide financial security for your beneficiaries in the event of your untimely death. With the various options available, it’s important to choose the right policy that fits your specific needs.
Here are some factors to consider when choosing the right life insurance policy:
- Coverage amount – The first step in choosing the right life insurance policy is to determine the coverage amount needed. This should be based on the future financial needs of your beneficiaries, including outstanding debts, living expenses, and education costs.
- Policy type – There are two main types of life insurance policies: term life insurance and permanent life insurance.
Top 3 Life Insurance Companies in Thunder Bay
Top 3 Life Insurance Companies for Thunder Bay Residents
There are over 35 Canadian Life Insurance companies offering policies to those living in Thunder Bay. Each company has slightly different underwriting rules. Hence, not all companies are looking for the same type of clientele. To explain, some companies specialize in insuring Commercial Pilots. Accordingly, other companies will offer better rates for Students. Knowing the difference is the key to getting the correct coverage at the best price.
Solutions Financial has the Experience
Solutions Financial has a close relationship with over 20 Canadian Life Insurance companies offering Life Insurance in Thunder Bay. We have taken the time to understand each product inside and out. This makes it easy for us to quickly recommend the right company and obtain the quickest approval.