There are basically two types of life insurance... term and permanent. Learn more in this article which compares these two types of life insurance to renting an apartment and home ownership.
You want the very best for your family, including protection against all that could go wrong in life. When it comes to your grandchildren, wouldn’t it be great to provide them with a gift that offers that protection and continues to give for the rest of their lives?
What is universal life insurance?
Universal life insurance is a unique product that combines permanent life insurance coverage with options for investment that offer tax-advantaged savings. It’s an excellent tax-efficient product to help you build an estate and pass your assets to your beneficiaries.
Thinking about purchasing insurance for your children is not an easy thing to do. The last thing any parent wants to consider is the potential of losing a child. But there are many reasons that buying life insurance coverage for your children makes good sense and some of them may even surprise you.
Whole life is a permanent type of life insurance. That means coverage is in place for life. As long as your premiums are paid, your beneficiary will receive the benefit amount upon your death. Policy premiums for whole life are also guaranteed for life, meaning they stay the same throughout the time the policy is in place. Keep in mind that the younger you are when you purchase an insurance policy, the more affordable it will be.
It’s been said that being a single parent can mean twice the work and twice the tears, but also twice the love and twice the pride. When it comes to financial planning and making sure your family is protected, you could say it’s also twice the stress and twice as important.
For less than the cost of your daily snack, you could be protected. Term insurance coverage can be less than $1/day.
Every year, close to 170,000 Canadians receive a cancer diagnosis. Another 75,000 suffer a heart attack. An estimated 50,000 have a stroke. And thousands more face diagnoses of Parkinson’s, Alzheimer’s, blindness, paralysis or other illnesses.
Term life insurance typically provides coverage that expires at a specific age or year
Available in 10 and 20 year renewable plan options, or a non-renewable plan with level premiums payable to the later of 30 years or age 65.1 Term insurance from Equitable Life provides flexible and affordable protection for your mortgage.
Not all mortgage protection is created equal. Before you buy, ask these questions.
What is money laundering?
Money laundering is the process that transforms ’dirty’ money (proceeds of criminal activity) into ‘clean’ money.
What is terrorist financing?
Terrorist financing is when funds are directed to support terrorist activity of any kind – whether that’s causing property damage or harming individuals.
Buying insurance for a child may not be comfortable, but it’s an important step for your financial plan, and your child’s future financial security. Consider permanent life and critical illness insurance.