Tag Archives: Best Rates Life Insurance
First of all, what is “Term Life Insurance” ?
Term Life Insurance is where you take out a policy to cover a death of the insured for a set period – the Term. These are typically used by people who may have a mortgage, or other large repayment commitment, and require coverage to make sure that during the period of the commitment the payments are covered in the case of death. Once the Term insurance is finished you do not get any funds in refund for not making a claim against the policy nor do you get a surrender value.
Once you stop paying the premiums of a term life insurance policy, or joint term policy,
Life Insurance companies are in the business of making profits from the policies that they sell. This means that for each policy they issue they expect to receive more premiums, and the associated investment income from those premiums, than the amount they agree to pay out upon the event of your death. If they didn’t do this they would go out of business.
This means that they have to judge and assess your lifestyle with a view to evaluating how much risk there is of you dying an unnatural or early death. The greater risk of you dying an early death, then the higher the premium the insurance company is going to charge you.
This risk is based on a set of industry wide statistics used by most life insurance companies.
Life insurance is a difficult subject, it is a decision we all have to make, and a thing we all should have. Whether it be a simple policy that will pay out when we die so that our families are not overly burdened by our passing, or an investment for our retirement. The industry is full of difficult language, clauses, contracts, exceptions and fees. It is a minefield waiting to catch the unwary, and one that some people dread to walk upon.
That’s why we have insurance broker, and life insurance agencies. They are there to make the minefield seems a little less perilous, safer to walk through. They are there to make sure that you connect with the policy that suits you best,
We all know how much grandparents love their grandchildren. It’s as if grandchildren are the younger versions of their mothers and fathers. Grandparents love their grandchildren, and they absolutely love being able to care for them. A number of grandparents are considering the financial futures of their grandchildren. This is especially the case if the parents are not in the best financial situation. A number of grandparents have considered obtaining life insurance for a grandchild in order to make sure that their grandchildren are thoroughly protected financially. While life insurance for a grandchild is nothing new, the concept of grandparents taking out life insurance policies on their grandchildren may be something that more individuals will consider. With many grandparents in their senior years,
So you’ve decided that you want the protection that only life insurance can
provide for you, now what? For the majority of Canadians what comes next is a period of online research followed by deciding which particular type of insurance will best cover their needs. The choices that you have boil down to three basic types: term life insurance, whole life insurance and return of premium (ROP) life insurance. If you’ve made it this far, chances are you’re more than familiar with both term and whole life insurance but a little unsure as to what exactly return of premium life insurance is and the advantages it offers.
Return of premium life insurance is essentially a hybrid of term and whole life insurance.
A life insurance broker is a committed individual that encourages and listens to the needs and wants of an individual looking for the coverage. An insurance broker will be able to find appropriate rates for you to choose from. When you speak to a life insurance broker, you can get the life insurance you require from a carrier in another city or province that is offering better rates then a local life insurance company.
There are many advantages in dealing with a life insurance broker when you want to obtain life insurance. The broker is familiar with the requirements of many different carriers and knows which ones they can contact to get you the best rates on life insurance for you situation.