What is Life Term Insurance?

Whole Life Term Insurance is one of the most affordable types of life insurance that provides financial aid and security in case of the policyholder’s demise during the term of the policy. This insurance will provide their family and dependents with financial safety and security when they need it the most.

Why invest in Life Term Insurance?

• Remember – your family comes first. It is imperative to ensure they are financially stable and secure once you are not around anymore. Whole life Insurance pay-out could covers your family’s monthly expenses, children’s education, and much more with very low premiums and a high amount of coverage.
• This type of insurance will give you the flexibility to convert the same plan into Permanent Life Insurance without any medical proof. 

Benefits of Life Term Insurance:

1. Locked for perio of Term: One of the significant benefits of purchasing a Term Insurance policy is that it will not expire as long as you pay your policy premiums for the Term of the Contract.
2. Dependents Benefit from this Policy: If you purchase Term Insurance, you can rest assured that your family will continue to live without any financial stress after your demise. Your spouse can claim the funds and use them to benefit your family, i.e., your children’s future.
3. Your Policy Premium will stay the same: The premiums you pay for a Term Insurance policy are guaranteed to remain consistent and fixed as long as you have your policy Term, unlike other policies where the premiums adjust over time.

Conclusion:

Term Life Insurance will be an excellent choice if you want to secure your family for fixed period of Time. Please note, the premiums may also be higher if you age is older and you go with longer Term.  Do you need guidance to choose the right insurance policy? Harpreet Puri is here for you. Call me now on 416-543-9000 to find out more information.