Tag Archives: Life Insurance Specialist
Online Life Insurance Broker
Life insurance is a difficult subject; it is a decision we all have to make, and a thing we all should have. It could be a simple policy that will pay out when we die ensuring our families are not overly burdened. Or it could be 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. Online Life Insurance Broker makes things more secure, quicker, more conveniently and less expensively.
That’s why we have insurance brokers! They are here to make the minefield seems a little less perilous and safer to walk through.
Return of Premium Life Insurance
So you’ve decided that you want the protection that only life insurance can provide for you, now what? What most Canadians will do will conduct online research. Next, 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 ROP insurance is and the advantages it offers.
Return of premium life insurance is essentially a hybrid of term and whole life.
Can I buy life insurance on someone else? Or here is the one that really scares people. Can someone else buy life insurance on me and then collect the money if I die? I hear people asking these questions all the time and wanted to address both issues.
Can I buy life insurance for someone else?
The simple answer is, “yes”. You are allowed to pay the premiums and collect the benefits on a life insurance policy that insures a life that is not your own. For example, many people have life insurance on their children. Another example is that companies sometimes buy life insurance on their key employees so that they can recover from the negative financial effect that losing that employee might cause.