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Term Insurance

Term Life Insurance

Choose Right Protection For Your Family

Can your loved ones afford your monthly mortgage repayment and other household costs without your income if you were the family’s sole breadwinner? Having insurance in such cases is critical if you have individuals who are financially reliant on you, such as children or a spouse. Moreover, term insurance isn’t simply for individuals who work and earn a living. If you’re a stay-at-home parent, your family might be worse off if you died because they would have to arrange childcare.
A term life insurance policy covers you for a set period of time. Upon your death, your policy pays out a lump sum. It ensures the financial security of your dependents. It can safeguard you until you reach certain milestones, such as a child’s college graduation or the completion of a mortgage. It is entirely up to you to decide how long you want the cover to last. The length of the cover will determine the size of your premiums. The right amount of coverage you should buy is determined by the size of the death benefit and the length of your term.
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Term life insurance offers coverage for a limited period. As a result, it is appropriate for individuals who want a payout to cover big loans such as a mortgage and those who wish to put money aside for the costs of raising a family until they grow up. This is a common option for people who have a substantial debt to pay off, such as a mortgage, because the payout corresponds to the amount needed to pay off the loan.
At iSmart insurance, our goal is to make term insurance as simple as possible for families in Alberta. Whether you seek advice on term insurance or need to purchase it, iSmart insurance is the right place to reach out. We can find the perfect policy for you through our network of top insurance companies. All you need to do is just give us a call, and our advisors will walk you through every minute detail of term insurance to help you make the most informed decision.
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Term insurance protects you for a set payment amount over a set number of years. This could be ten, fifteen, twenty, or even more years. You have complete control over the length of time you require.

 

What happens if you pass away during this time frame? You can then leave a tax-free death benefit to the people or organizations to whom you wish to leave money.

 

The death benefit is the amount that your beneficiary receives upon your death. The money from that benefit can subsequently be used for any purpose by your heirs. According to the amount of life insurance they purchase, they receive a certain amount of money.

No, although disability insurance can be included in your entire life insurance plan. As employers continue to eliminate short-term and long-term disability alternatives from their benefits packages, disability has become practically a must for most employees. Disability insurance replaces your income while you cannot work for a long time. Suppose you’re unable to work due to a critical illness. In that case, critical illness insurance provides a one-time lump sum payment and coverage for unforeseen expenses associated with the condition.
Term life insurance is less expensive and protects you during the most crucial period of your life. It is more costly to buy a whole life insurance policy that covers you until you die. Consider your beneficiaries — anyone who relies on you financially is someone you should be concerned about. Hopefully, when you retire, you’ll have a healthy nest fund, and all of your debts will be paid off. For additional information, see our article on term vs. whole life insurance.

“Offered under Experior Financial Group by Insure Smart Financial Ltd.”

“All Life & Accident sickness products sold by Insure Smart Financial Ltd under license from Experior Financial Group.”

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