It is foolhardy to not think about life insurance in these times full of uncertainty. With an ever increasing number of road accidents and mishaps, it makes sense to think of an eventuality of one’s death, howsoever painful it might be. If you are the sole bread earner in a family with many dependent upon you, you must ensure that they are able to continue with the kind of lifestyle that you have made available for your dear ones. This is possible only if you take a life cover that pays your family in the event of your death a decent sum of money or a monthly income for the rest of the life of your spouse. T Read more…
No Comments »
Life insurance policies in Canada are primarily divided into two categories, Term Life Insurance and Permanent Life Insurance.
Term Life insurance policies have level premiums for a stated term, i.e. 10, 20, or 30 years. In most instances, Term Life insurance policies do not build a cash value.
Permanent Life insurance policies are sub-divided into three categories, Term 100, Universal Life insurance and Whole Life insurance.
Some Term 100 life insurance policies do provide a cash value component, but most do not.
Whole Life insurance policies have a built-in cash value, in the case of Participating Whole Life policies, the cash value includes a guaranteed cash value and a dividend cash value.
Read more…
No Comments »
When applying for life insurance, the insured often has to complete medical tests. These medical tests can include blood pressure checkups, blood profile tests, urine specimens or ecocardiograms.
Though these tests are harmless, they should still be taken seriously and adequately prepared for. Some of the things the insured should keep in mind before completing their life insurance medical tests are the following:
1. Write down all significant illnesses, as well as the dates you had them. Also, write the names and addresses of your doctors and the treatments they employed. This will help speed up the application completion process for the nurse.
2.
Read more…
No Comments »
Standard Life offers Term 10 and Term 20 life insurance solutions.
The plans are renewable to age 85 and convertible to a Standard Life permanent policy — both without a medical.
Read more…
No Comments »
Those over 60 can get life insurance.
Read more…
No Comments »
At the end of these specific periods of time you can either drop the policy or you may elect to renew it. If you choose to renew your policy you will usually need to provide proof to the life insurance company that you can still qualify for a policy.
Some term policies have built into it an option which you may exercise which would allow you to convert your policy within specific periods of time. You would convert to a permanent policy like universal life insurance, variable universal life insurance or whole life insurance. The periods within which you may covert is usually shorter than the term period for the policy itself. Let us suppose you own a 20 year level term life insurance policy.
Read more…
No Comments »
Acquiring life insurance can be a complicated affair. Said complication is greatly increased by the amount of jargon that consumers have little hope of understanding, not to mention the commission hungry sales agents. Among the many decisions that need to be made is whether one goes down the term or whole-life route. Ask any insurance sales agent which type of life insurance is the best and he or she will undoubtedly respond that the answer is whole-life insurance. Ask the same life insurance agent which type of life insurance he makes an eighty percent commission on the first year’s premium and the answer will be the same. Read more…
No Comments »
Posted by admin