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

Term Solution

 

Want to give your child the freedom upon reaching adulthood, to have more financial choices (i.e. to mortgage a home, finance a car, etc)? Term insurance is an inexpensive way to put a foundation of insurance in place for your child. You can choose an option that guarantees the child the right to buy additional life insurance in the future, regardless of the state of your child's health. This is very important, as the time-value of money can render your child's policy virtually worthless in 20 to 30 years. Do you know someone still paying for a $5,000 life insurance policy 40 years later?

 

Permanent Solution

 

A permanent plan provides an asset and flexibility that grows along with your child. The relatively low guaranteed premium that starts your child's insurance program can be maintained throughout adulthood. You can help protect your child's ability to enhance his or her insurance program by including an option in the policy that guarantees your child the right to buy additional life insurance in the future, regardless of your child's state of health. Later, when your child takes control of his or her own financial planning, ownership of the policy can be transferred to the child on a tax-deferred basis, creating potential tax advantages as well.

 

Next page >

 

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

 

 

 

Click a link below to jump to another section of the article:

 

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

 

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

 

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

 

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.

 

Return to life insurance education center