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Life Insurance
Life Insurance In Canada
By Insurance Direct Canada
In Your world you have so many people you love and care for…
Yours and their financial being and security are important to you - life insurance is a way of protecting your and theirs, today and tomorrow.
A life insurance policy will help you protect your loved ones, plan for life challenges and still realize your financial goals.
For more info dial our toll-free 1-866-238-9271,
e-mail us at info@insurancedirectcanada.com
or complete our contact form.
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What type of insurance and how much insurance do you need?
In a simplistic way, you must choose between two types of insurance:
Term Life Insurance is generally the least expensive at least initially and provides insurance protection for a specified period of time –for example 10, 20 years. At the end of the term, that is your specified time period, your Life Insurance policy can be renewed until a certain age - typically your premiums will increase at the time of renewal.
Term Life Insurance is ideal for young families as it is relatively inexpensive. It can also supplement other coverage when you have additional financial responsibilities for a certain period of time, as in the case of a mortgage.
Therefore, it is also used as a much better alternative to the Mortgage Life Insurance offered by Financial Institutions.
Permanent Life Insurance as in Whole Life Insurance and Universal Life Insurance can offer protection in certain instances up to a specific age and/or for your entire lifetime. Permanent Life insurance policies can build a cash value -money that you can borrow against or withdraw to meet future goals.
Although initially Permanent Life insurance is more expensive than Term Life Insurance, Permanent Life Insurance premiums do not increase with age and since the policy can build a cash value, in the long term it can offer better value depending on your needs.
For more info dial our toll-free 1-866-238-9271,
e-mail us at info@insurancedirectcanada.com
or complete our contact form.
A simple guide: How much Insurance do I need?
Critical Illness Insurance is a type of Health Insurance that will cover certain serious illnesses and give you and yours the financial help for your recovery and/or to even get "out of the Country" medical treatment.
The cost depends on your age, amount of coverage, number of illnesses covered by the policy and the Insurance company.
You should have some Critical Illness Insurance even if for a smaller amount. To view one excellent plan, click here and select "Lifecheque Basic Critical-Illness".
The most important concern at such a stressful time is for you to get well and healthy again.
Some insurance plans will return the premium or a portion of the premiums paid during the life of the policy if the policy matures and no claim has been paid.
After a claim is approved a lump-sum benefit is paid to you tax free.
For more info dial our toll-free 1-866-238-9271, e-mail us at info@insurancedirectcanada.com or complete our contact form.
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Disability Insurance provides a monthly income replacement if you become injured or ill and can no longer perform your normal work duties. The benefit is generally limited to a percentage of your regular income and will start 30, 60 or 90 days after you become injured or ill. It ceases once you earn an income or you no longer meet the definition of disability in the contract.
Give special consideration to this type of insurance if you are self employed or have your own business. It is also important to note that some companies do not provide Disability insurance.
For more info dial our toll-free 1-866-238-9271, e-mail us at info@insurancedirectcanada.com or complete our contact form.
Learn More >
Long Term Care Insurance provides you the means and resources if you lose the ability to care for yourself and need care at home or the services of a long-term care facility. Provincial Health Plans cannot afford to pay the entire cost of care and therefore there are limits on the amount paid for home care and do not cover the costs of a private facility.
For more info dial our toll-free 1-866-238-9271, e-mail us at info@insurancedirectcanada.com or complete our contact form. |
