- Guide to Term Life Insurance
- Quick and simple process
- Why Is Term Life Insurance critical?
- Affordable insurance coverage
- Need help with the policies? Give us a call today!
- Term Insurance: What You Should Know
- Some factors that may affect the Insurance cost
- Why would you need Term Insurance?
- Reasons You Must Invest In A Term Life Insurance Policy
- Final Thoughts
Term Life Insurance is an affordable insurance policy that protects a fixed amount and period. The period could be for 10, 20, 30 years or more. This coverage makes sure your future is well-taken care of, no matter the circumstances. At Canadian L.I.C., we offer a wide range of Term Life Insurance policies for you to choose from. Give our team a call today to find out more information. We offer our services to individuals across Brampton and the surrounding areas.
Quick and simple process
The Term Life Insurance is the least expensive and most straightforward policy you can find out there. To become a policy owner, you do not need to provide any proof of medical health; you need to answer a few questions depending on the coverage you choose. The term of the policy starts from 5 years up to 40 years. The policy will expire after the insured has turned 85 years old. In the event you outlive your insurance, you have the option to renew your policy. Your premiums will vary depending on your age and lifestyle but are guaranteed to stay the same for the term you have selected. If you sadly pass away within the term period, the amount would be paid to the beneficiaries you mentioned in the insurance policy. For further details, contact Canadian L.I.C. today.
Why Is Term Life Insurance critical?
Term Life Insurance provides a security blanket for those families that depend solely on one person for financial support. In the event of your demise, they receive a lump-sum, tax-free amount to help them cover your funeral expenses, as well as utilize the money as they see fit. It could be paying for your children’s education to maintaining their living standards, and much more. Give us a call today on 416 543 9000. We are available 24/7.
Affordable insurance coverage
This type of insurance coverage is suitable for people who need insurance protection for a limited period or a tight budget. It is an excellent option for business owners as this kind of insurance can cover employees for a certain period – for several years or until they retire. Term Life Insurance is an affordable insurance policy option if you are a young adult or a newly married couple.
Need help with the policies? Give us a call today!
Choosing the right Term Life Insurance policy to suit your needs can be stressful and complicated. At Canadian L.I.C., our team of expert insurance advisors will assist you every step of the way, ensuring you make the right decision. You can rest assured; we will educate you on all the options available and only proceed once you are satisfied with the policy. Do not hesitate to speak to our team to schedule an appointment, or call us on 416 543 9000 for further inquiries. We serve customers throughout the Brampton area.
Term Insurance: What You Should Know
When it comes to Life Insurances, it doesn’t always have to be a life-long commitment. There are several policies that you can choose from and term insurance is an ideal option. It offers affordable coverage for your significant expenses, so your dear ones are financially protected when it matters.
As a Life Insurance product, it guarantees a death benefit payout to the stated beneficiary in the contract within a specific period, generally 5-40 years. When you purchase this policy, your coverage amount and premiums get lock-in for the entire Term of the policy’s tenure. Additional benefits include the payout being completely tax-free. If you want to know more about Term Insurance, read on.
How does Term Insurance work?
The first step is always to do your market research and find a company that can help you make the right decision and meet your insurance requirements. You can get in touch with Canadian L.I.C., and we will be more than happy to help.
- Now once you have made your contact, discuss your needs with the Advisor and then choose the coverage amount and Term length you want
- Tailor the terms and conditions of the contract as per your requirement with additional benefits, make sure you get the best deal available
- After the paperwork is complete, the Life Insurance coverage kicks in, you will have to pay monthly premiums, and when the Term is about to end, you can either renew or convert it to a long-term plan
- If you pass away when the policy is active, the person/family member you named as beneficiary will receive a tax-free payout
Get The Best Insurance Quote From Canadian L.I.C
Call 1 844-542-4678 to speak to our advisors.
Some factors that may affect the Insurance cost
Compared to Whole Life Insurance, Term Life Insurance is more affordable. However, certain factors can affect the expenses of the policy, and these would include:
- Age: You pay less for your insurance if you’re young
- Health: If you’re in good health and your family doesn’t have a history of chronic diseases, then the policy may cost less
- Lifestyle: The way you live your life also plays a role in dictating your insurance costs. If you smoke, consume alcohol, you may have to pay more
- Occupation: If you have a dangerous job, then the prices would go high.
Why would you need Term Insurance?
Term Life Insurance can act as a financial safety net for your family. In the situation of your untimely death, the pay-off can cover your mortgage balance, pay the education costs of your children, and much more. You can find out more about the advantages of Term Insurance by getting in touch with the team at Canadian L.I.C., and they are experts in the field.
They can also help you with several other insurance policies such as Critical Insurance and Disability Insurance; give them a Call.
Reasons You Must Invest In A Term Life Insurance Policy
Buying insurance? Here are the five reasons for you to choose term life insurance plans!
Adulthood is almost synonymous with having to make a bunch of purchases such as a life insurance policy. With the wide variety of choices available, it can get hard to decide which plan would work for you.
A term life insurance may not cross the minds of those willing to make longer commitments for their family, but it allows you to stay in charge of your finances and make changes at a later date.
5 Reasons A Term Life Insurance Policy Is A Good Investment
- Easy to understand
- Easy to obtain
- Cheaper plans
- Large coverage
- Affordable premiums
Get The Best Insurance Quote From Canadian L.I.C
Call 1 844-542-4678 to speak to our advisors.
Final Thoughts
A term life insurance is a policy that is not too complex in terms of how it functions. It protects your family’s financial needs in case something happens to you. In your absence, their lifestyle is not compromised as they will receive the lump-sum amount as death benefits. It does not bring in an investment angle or a money-back benefit making it really simple to understand.
Not the working of policy is simple, it is equally simple to obtain and keep. The right insurance broker can help you determine the right plan quickly.
Term Life Insurance plans in Canada allow you to search for plans which are more affordable. This is because they last only for a pre-determined term and can be closed easily. These plans come with better rates and are often considered an affordable choice compared to other insurance plans.
The coverage, the however plan sounds simple, is sizeable. Like any other insurance policy plan in Canada, the final sum depends on your financial capability and your broker’s way to deal with things.
As a plan which is considered to be affordable, it also provides benefits in terms of premiums. The premiums are usually very affordable and can be covered even by someone who has just got their first job out of college. And it is always advisable to start a term life insurance plan as soon as you can, in early adulthood.
A term life insurance policy is a good investment for most of us as it is easy on the pocket and can provide our loved ones with sizeable coverage as well.
Get in touch with a term life insurance provider in Canada. Contact Canadian LIC today.
The above information is only meant to be informative. It comes from Canadian LIC’s own opinions, which can change at any time. This material is not meant to be financial or legal advice, and it should not be interpreted as such. If someone decides to act on the information on this page, Canadian LIC is not responsible for what happens. Every attempt is made to provide accurate and up-to-date information on Canadian LIC. Some of the terms, conditions, limitations, exclusions, termination, and other parts of the policies mentioned above may not be included, which may be important to the policy choice. For full details, please refer to the actual policy documents. If there is any disagreement, the language in the actual policy documents will be used. All rights reserved.
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