If you are wondering what happens to the premium for your life insurance plan if you survive the whole term, well, you will be pleased to know that both Whole Life Insurance and Universal Life Insurance have a built-in cash value accumulation. This comes under the money-back life insurance policy, and you can get it back. Contact Canadian LIC today for more details.
Call 1 844-542-4678 today for no-obligation quote.
With money-back insurance, you add a return of premium rider on top of a conventional term-life insurance policy at the time of purchase. You should that this money-back feature will last the entire term of your plan. Money-back insurance policy works in the following way:
Call 1 844-542-4678 to speak to our advisors.
As we all know that no financial product is perfect, and the same can be said for money-back insurance policies. However, this type of policy has a fair number of benefits. Have a look below to know what they are.
Well, the name itself is self-explanatory. In money-back term policies, you get a percentage of your sum assured during the tenure of the plan. This percentage is calculated on the total sum assured at the end of the maturity period. In the event of you passing away, your family will receive the full amount of the assured sum at the end of your maturity period, and the monthly percentage amount won’t be deducted.
The money-back life insurance Brampton only falls under the categories of Whole Life Insurance and Universal Life Insurance. However, for Term Life Insurance policies, you can customize the plan to include a money-back clause to reap the same benefits. The sum assured is paid, and the percentage amount is not fixed and varies from plan to plan. If you have any queries, feel free to call us, and we will be glad to resolve them.
We give you the option to customize a Term Insurance Plan to include an ROI clause to get the complete amount back at the end of the tenure. You might be paying a bit extra on the premium. However, if you live out your tenured period, you would be getting a lump sum on the entire amount. We also give you the option of renewing your plan as it will increase the lump sum amount. Another additional advantage is since the lump sum that you would be receiving is tax-free.
Now, coming to the paperwork, if you don’t have a clear understanding of insurance plans and policies, we’ve got your back. Our team has been in this line of business for more than ten years, and we can advise you on what type of plan would be best for you based on your requirements. Your best interests are always our top concern. If you are searching for a Whole life insurance company, you can schedule an appointment with us today for more details. Contact us today for more details about money back life insurance plan. We look forward to hearing from you.
Learn More about Term Life Insurance
If you are purchasing a traditional term life insurance policy, you will already know that it does not guarantee a payout. Your insurance company will only pay the death benefit when you pass away during the term. If you outlive the term, neither you nor your beneficiary will receive any payout. Now, if you add a money-back clause in your contract, then you will not lose the substantial amount of money that you pay premiums towards the month’s end. Especially if you are receiving this lumpsum fund when you are nearing your retirement, the thought can be comforting. So, all-in-all, if you are not good at saving, money-back insurance can force you to save some funds for your future. If you have any queries, feel free to contact our team at Canadian LIC. We will be more than happy to resolve them.
If you choose our team at Canadian LIC for money-back insurance plans, then you will be working with an expert financial advisor who has been in this line of trade for many years. We can customize the contract as per your need and make sure that you are happy with the terms and conditions before you sign on the dotted lines. We also broker whole-life insurance and universal life insurance policies. If you are searching for a Whole life insurance company, you can schedule an appointment with us today for more details. We look forward to meeting you.
Call 1 844-542-4678 to speak to our advisors.
With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.
With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet. With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company.
With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company.
With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.
It is generally 10,20 or 30 years.
Money-back life insurance can be categorized into two classes: whole life insurance and term life insurance.
No, it is not. Once you get the premium amount it will only be considered as a return of the premium and not as income.
No, depending on the pal you choose the interest rate may vary. However, we do offer one of the lowest rates in the market.
The death benefit amount will be given to your family (the beneficiaries you nominated).