Life Insurance – The Basics

SO you’ve been told to look for some life insurance? Have you recently bought a house? New family? Business liabilities? Debts? Estate planning to think about?

It can certainly be overwhelming! There are lots of websites online where you can obtain a free life insurance quote, however there are some basic talking points to be aware of first.

The pricing of life insurance is determined by many factors, primarily:

1. The amount of insurance coverage (face amount)
2. Your age
3. Female or Male
4. Smoker or Non-smoker
5. If you have any health issues for example high blood pressure or diabetes
6. The type of insurance

There are basically two types of life insurance: permanent (sometimes referred to “age to 100”, because after that, insurers are forbidden to charge you a premium), and term – which can be for as short as 10 years, or long as 40. There are different names that these products are called – brands that can be quite confusing whether it’s adverted at the bank by a life insurance carrier, or on tv during your favourite show.

Each product works differently and are for different purposes.

For example:
1. Term Life
2. Whole Life
3. Universal Life
4. Mortgage protection

Insurance Companies offer variations of these types of insurance to help suite your needs. Knowing what products are out there and how they work , is where I come in. I would be happy to help you through this process.

For a free quote, please contact Arthur Guest 1-877-830-7000 or fill out a quote form online