The five basic types of life insurance are as follows
I have been a very happy client of Kevin Rotenberg for 25+ years. His GIC rates have always been the best, the service absolutely great, and the investments completely safe with steady growth.
Term Life Insurance
Term life insurance provides you with a particular amount of insurance over a fixed period. If you pass away, the policy pays a tax-free benefit to your beneficiaries. Since it provides temporary protection you can customize it as your needs change.
Permanent Life Insurance
Permanent life insurance covers you for your entire life. Permanent insurance costs are usually guaranteed not to increase from when you first purchase the policy.
Participating Life Insurance
Participating life insurance is a type of permanent life insurance that may provide dividends. It also guarantees for life the amount of coverage you choose and your premiums. Any dividends may be used as you wish.
Universal Life Insurance
Universal life insurance is a flexible type of permanent life insurance that combines protection and savings. You choose the amount your beneficiaries will receive and any payments you make above the cost of insurance earn tax-preferred interest.
Guaranteed Issue Life Insurance
Guaranteed issue life insurance is designed for seniors, the hard-to-ensure and those who do not want to take the time for a medical examination or wait for a doctor’s report. It can be purchased by those 25 to 80 years old and has benefits that range from $1,000 to $75,000.
Choosing the right product may seem like a daunting task, but we are here to help narrow down your choices. We can provide you with the right product to meet you goals and needs.
Please contact us for more information.