What are the benefits of Term Insurance to you?
Cost Effective: Since you are only paying
for the basic benefit (death benefit) your insurance costs
are minimized for the term.
Your choice of Terms: Basic coverage is
available for 1year, 5 years, 10 years, 15 years, 20 years,
30 years or to age 100
Term Life Additional Benefits: Depending
on your plan, additional lives such as your spouse, children,
or business partner can be added. Waiver or premiums upon
disability or even a Critical Illness benefit may be available.
Extending your Coverage: Depending on your
age and particular policy type chosen you may at the end of
your term renew your policy for another term or convert it
to a permanent insurance plan (Whole Life, Term to 100, or
Universal Life) without having to prove your health. This
can be extremely advantageous in the event you develop an
illness or disability that would otherwise normally disqualify
you for insurance coverage in the future.
How can these benefits best suit your needs?
Term Life insurance can:
- Provide income for your loved ones and beneficiaries.
- Ensure that your mortgage or other financial debts are paid.
- Pay your final expenses.
- Cover capital gains taxes payable at your death.
- Fund a business transfer as a funding vehicle for Buy-Sell
- Create a legacy for any or your chosen charities.
- Relieve any financial burdens owing by your surviving family
- For young families, provide a large amount of insurance protection
for a very low cost