Life is uncertain, and in the untimely event of someone passing away, their family might face a financial crisis in his or her absence. Whole Life Insurance policies can resolve this problem, and even in the event of a mishap, you can rest in peace that your loved one will not go through any such condition. For whole life insurance policies, get in touch. We are life insurance providers and serve customers in Ontario and surrounding areas.
If you are wondering what the benefits of this wholesome policy are, you already know one of them. Whole life insurance offers financial coverage for the entirety of your life. It has a fixed premium rate, so you will never have to worry about your monthly premiums increasing. As long as you are paying the premium, you will have your coverage. However, that’s not the only benefit that you can take advantage of when it comes to whole life insurance. Have a look at the list below for more details.
If you are still not impressed and have some queries regarding whole life insurance, contact Canadian LIC today. Book an appointment; we look forward to meeting you. Our insurance brokers can help you with money-back insurance and universal insurance policies as well.
The question should not be why you should but why you shouldn’t. Permanent life insurance gives you complete peace of mind. As we all know, good or bad, life is full of surprises, and sometimes the worst things happen when you least expect them. At least, with Permanent Life Insurance, you can plan ahead, so your loved ones have a financially stable life even when you are not there. Read on for more reasons why you should get a permanent Life Insurance plan.
It’s always better to plan ahead. You may never know when death comes for you, but when it does, you should have complete peace of mind knowing that you have done your bit so your loved ones don’t suffer when you are not there anymore. That’s why it is important to choose a whole life insurance policy where your beneficiaries will be paid the amount no matter when you die.
There are two types of life insurance that you can choose between. One is the non-participating one, where there is a guaranteed cash value involved, and the other is the ‘participating’ option, where the cash involved is variable depending on your premiums and dividends. The dividends involved are paid on the basis of interest rates depending on the insurance company’s profitability. Are you looking for a life insurance company? Contact us today for more details.
With Term Life Insurance, it comes with a set period of anywhere between 10 to 20 years. Over this course of time, the premium is subject to change when you renew. This is because the risk of death increases as you grow old. However, when it comes to a whole life insurance policy, your premiums are locked in. They will not increase as time passes by. This is a big advantage this policy has over term life insurance coverage, where the cost of your premiums will most likely change as well if you plan to renew for another term.
Another advantage of a permanent life insurance policy is that you will never have to re-qualify for coverage. So in, during the term, you develop a medical condition, and the cost of your premiums will not be affected.
With term life insurance, you will also not receive any pay-out if you live out the term. That will not be the case with whole life insurance because of its in-built cash component that continues to grow over time.
Whole life insurance policies may also be more customizable because of more extensive rider options. These riders or clauses come with additional benefits and can be included in a policy to address specific needs and concerns at an extra premium cost. Certain whole life insurance riders, such as a child death benefit, may not be available with term life insurance. To find out more, call Canadian LIC today.
Our team members can always offer you unbiased advice with your interests in mind. Are you looking for a life insurance company? Contact us today for more details. Our services are available to customers.
This policy covers the entirety of your lifetime and after you retire, you will have a steady cash flow in the form of cash value if designed that way.
Yes, and it will be returned to you or your beneficiaries ( if the untimely event of your death).
Absolutely not. You use the amount to repay your loan, credit card bill, on home renovation, anywhere you want.
Then policy lapse
You can pay it over a period of 10-20 years or till the age of 65 or till age 100.
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Wonderful Personality. She has a good knowledge of insurance and also gives you variety of options to work with your budget. I will recommend her for your insurance needs.