Combining term and permanent insurance

People often wonder what is better, Term or Permanent Insurance. Both have their advantages and disadvantages. However, both have a significant role in our world of protecting our family, assets, incomes, family etc etc. Therefore, it could be a good idea to take a combination of Term and Permanent Insurance. It can be bought together in one policy , thus there could be some savings on policy fees and in premiums. It is a Think Smart approach to buying Life Insurance.
Feel free to contact me at www.youinsuranceguy.ca or email me at aman@yourinsuranceguy.ca. You can also request a quote.

Term Life Insurance

is an extremely cost effective way to insurance yourself when your temporary ( or time bound) needs for insurance are high. During the years when we are raising our kids, have big loans to pay and also building our assets, term insurance could be a great fit.The cost of insurance ( or the premiums) are constant for the duration of the term. Policies are renewable and convertible.

 

Permanent Life Insurance

is essentially a coverage that is lifelong. It runs through our life assuring a payout upon death. The cost of insurance can be level or YRT and the payout is tax free. Its main purpose is :

 

Universal Life Insurance

..is one of the best things that could happen in the world of Life Insurance. UL policy is when a permanent life insurance is merged with the possibility to have several investment options.

Your policy provides a lifelong coverage and at the same time you can save money within the policy to create tax-sheltered savings…

UL Policy ….an excellent way to build wealth that could actually become tax-free for your family. There are several options that could be customised for an individual.

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