77% of Canada Enjoys an Insurance Coverage. Do You?
As of 2017, Canadian Insurers provide protection for about 28 million people across the country. This indicated that at least 77% of the population enjoys an insurance coverage. Are you one of them? Having a Life Insurance offers you multiple benefits, especially fulfilling a mental obligation of protecting your loved ones even in your absence. The insurance industry in Canada in total pays a benefit of $1,692 million every week. With a highly competitive market having about 91 Life Insurance providers across the country, Insurance Agents like Harpreet Puri provide you an easy filter and shortlist insurers just by analyzing your needs and requirements.
Why Should You for Life Insurance Immediately
Life Insurance policies come with multiple variations and features suiting your requirements. There are policies which channel a part of your payment towards investments which in turn provides you with a high return in form of dividends. Also, there are policies which provide you a full refund at the maturity of a particular period. Travel Life Insurance policies also come in hand for travelers departing to remote countries.
According to CLHIA, 90% of the benefits paid are directed towards living policyholders. This reflects that not only after the applicants demise the benefit can be claimed. These life insurance benefits directed towards living policyholders are paid in form of cash surrenders, dividends, and disability benefits.
Did you know, all Life Insurance policyholders are financially reinsured by Assuris. It is a Non-Profit Organization which protects all insurees in case their insurer becomes insolvent. It functions in such a way that, if your insurer turns insolvent, your policy will directly be transferred to a solvent insurer, where your policy will be honored.
In case of partnerships, there is a chance of fall in business in case of a partners demise. In such a case purchasing a Life Insurance on your partner can provide you high benefits. In this case, if your partner encounters an unfortunate accident, you will be receiving a sum, which is enough to buy out your partners share. This way you can prevent the selling of your business due to lack of authority or control. Your partner can also apply for an insurance for you.
To Avoid Passing the Burden of Estate Taxes
You may have beautiful properties which you would like your children and grandchildren to enjoy. But along with passing them your property rights, you will also be passing on a heavy tax responsibility on the estate. Life Insurance, especially whole life insurance is a good way to avoid passing on the tax liability and insuring a benefit that is enough to pay off the liabilities as a whole.
Life Insurance has a wide range of benefits with multiple variations and can help you in great ways according to your requirements. Harpreet Puri has been excelling in this industry for almost two decades and can provide you with policies which are best suited for you.