Vancouver Life Insurance
Vancouver Life Insurance – What is it?
Vancouver life insurance is something that any wise person would get to protect the financial security of the people they love they most in the event of any mishap that might occur to the beneficiary, like death, terminal illness or critical illness etc. In return the policy holder is liable to pay a fixed amount to the insurer at regular intervals or in lump sum.
A life insurance policy pays a cash benefit, tax free, to your beneficiaries when you die. The amount of money for which you are insured and the type of insurance you buy depends on your needs.
People can get life insurance through work (some employers offer it through group benefits plans. This type usually ends when you leave the employer.) or they buy it on their own (usually from an insurance advisor).
Matthew Strauts believes that a periodic insurance review is vital to keeping your financial situation secured. He knows that giving security to what matters to you brings peace of mind. After a thorough analysis he determines his client’s priorities and then provides them the best policy suited for the protection of their family and business letting you enjoy the comfort of knowing that you have protected what matters the most.
When planning your families long term goals, Vancouver Life Insurance is always an important ingredient. It can be used to protect your family against a sudden loss of income, insure a key company employee or plan your estate. The best Vancouver Life Insurance company Sun Life Financial and it’s top advisor Matthew Strauts have a wide range of products that could meet your requirement and financial situation. Universal Life Insurance; is a kind of plan which obtains life insurance coverage and accumulates additional tax sheltered funds. Term Life Insurance provides affordable financial security for a defined period like 10 years to 30 years or to age 100. Permanent Life Insurance gives enhanced financial protection with guaranteed cash surrender values and guaranteed premiums. None of us like to fall ill it is a part of life. Falling ill is unpredictable and coping with it while recovering can be very difficult and financially draining. Critical Illness Insurance is a coverage designed to help you with such unexpected expenditure. It provides a cash benefit if you are diagnosed with one of the many conditions described in the policy. This frees you from the financial worries and lets you concentrate on your health or that of your loved one.
Matthew Strauts and his Vancouver Life Insurance company, Sun Life Financial will protect your assets in the event of a disability. If certain illness or disability prevents you from pursuing your occupation you must have some financial source to rely upon. Sun Life Financial offers two kinds of product for such situation. First kind is the Disability income insurance which provides you with a replacement of your salary during the period of your disability or illness. An amount reaches you monthly to meet you daily requirements and standard of living. The second kind of policy is the Waiver of premium in the event of total disability. This allows you to take out a disclaimer of premium when you fail to continue to pay the insurance premium due to total disability. You can still avail the coverage generally after waiting for a few months.
These life insurance policies keeps you relaxed and away from all worries of the family even after you are gone.
To find out more about how Matthew Strauts can give you peace of mind and lay your worries to rest, contact him HERE
There are 3 types of life insurance: term, permanent and universal.
| Term insurance | Permanent insurance | Universal life insurance | |
| Summary | Low cost, temporary protection for times of high financial risk (e.g. when you have a mortgage ) | Stable lifelong protection without the complexities of universal life. Over the long term, it offers generally a better financial choice than buying and renewing term insurance. | A more flexible but intricate type of insurance that combines long term life insurance with an opportunity for tax-deferred savings |
| Duration | Coverage will end at a certain age | Guaranteed lifetime protection | Typically lifetime protection |
| Amount of insurance | Once chosen, doesn’t change | Once chosen, doesn’t change | Choice of level or increasing amount of insurance |
| Cost | Lowest initial cost, but cost may increase each 5, 10 or 20 years. Cost can rise dramatically in later years. | Typically guaranteed not to change for the life of the policy but some products are adjustable.
Premiums tend to be higher than term insurance when you’re younger but will be lower than term when you’re older. |
Cost of the insurance may be:
|
| Cash value | None | A cash value usually accumulates, and is paid to you upon cancellation. | Payments made, in excess of required cost of insurance, can be invested and grow tax-deferred. |
| More details on term insurance | More details on permanent insurance | More details on universal life insurance |
