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

Term Solution

 

Without a doubt, term insurance is the most cost-effective way to cover most debts, including mortgages, credit cards or lines of credit, business loan, car loan, home-improvement loans, and much more. You gain significant value of purchasing your very own term policy over buying creditor insurance at the bank. You also avoid many pitfalls and dangers that are addressed on this web site (click here to learn why you should never buy life insurance with your bank).

 

Permanent Solution

 

If you expect to have an ongoing need for coverage then permanent coverage can prove to be your best solution. For example, many people buy a new home every 5 to 15 years. The reasons are many, and include: growing family, relocation of employment, downsizing for retirement (those expensive downtown Toronto condos are looking nice), divorce, upgrade from your "first home", and economical/market fluctuations.

 

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

 

 

 

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

 

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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