Purchasing life insurance could be the most important step you take to protect your family’s future. When you die, having the right amount of life insurance protection will provide your family with a future that is financially secure.
Many people start with protecting their mortgage. As you grow your family, it becomes increasingly important to consider your family’s needs should something happen to you. Child care costs, education costs, funeral costs and the loss of your income from the total family income are other important factors to consider when deciding how much life insurance you need.
We can guide you through an insurance needs analysis and review your existing insurance already in place. We want to make sure you have the right coverage at the right price.
Term insurance is often used for needs that are considered temporary in nature. A mortgage you plan to pay off before retirement is a good example. Term insurance often expires around age 80.
Whole life insurance is often used for permanent needs. Your funeral, an inheritance or capital gains tax on a cottage are good examples. Permanent insurance does not expire until you do.
Universal life insurance combines permanent life insurance and tax-advantaged investment opportunities to provide custom-designed solutions ideal for tax and estate planning.
Mortgage insurance is simply life insurance. However, you should note that there are some significant differences between personally owned life insurance and the mortgage protection offered by the banks and we are happy to review your options