"I have a young family and need life insurance, but my budget does not allow for much premiums."

Term Solution

 

Term insurance is appropriate to satisfy high, short term protection needs for the lowest initial cost per $1,000 of benefit. Extended terms, such as 20 years, will provide the greater long term savings.

 

Permanent Solution

 

If budget allows, it is a good idea to combine term and permanent coverage into one policy. This often provides the coverage you need at an affordable price. This can also secure lower premiums for a permanent plan that would otherwise be prohibitively costly years later.

 

Ask about a permanent plan whereby a portion of the plan is term and the other is permanent. With time, your dividends can be used to gradually convert the term portion into permanent insurance, until the whole policy becomes a permanent plan. This is a suitable and economical method to purchasing permanent insurance on a tight budget!

 

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I'm looking to cover a temporary need, such as a mortgage, line of credit, or business loan.

 

 

 

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I know my immediate needs, but they may change in the future.

 

I'm concerned about providing the necessary resources for my child's future.

 

I would like to ensure that taxes owing on my estate are paid, leaving my assets intact to my heirs.

 

I'm in business with a partner and would like to ensure that I have the funds to buy that partner's interest at death or retirement.

 

I would like to leave a legacy to my heirs or favourite charity.

 

I would like a tax-effective way of increasing my retirement income.

 

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