Your need for life insurance depends largely on your financial obligations and your dependents. The question you need to ask is: would your dependents be financially impacted if something happened to you? If this is a concern, then life insurance could help protect them financially after you’re gone.
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LIFE INSURANCE
Do I Need Life Insurance?
Term Life Insurance
Universal Life Insurance
Term life insurance typically provides coverage that expires at a specific age or year. Premiums are guaranteed for a given time period - usually, 10, 20, or 30 years - depending on the plan selected. At the end of that period, the policy either renews at a higher premium for the next payment period or terminates. Most term plans can be switched to permanent protection to cover your long-term needs. If you’re searching for “best insurance brokers near me” or “life insurance broker Oakville” consider your search a success. Volpe is here to help.
Is Term Life Insurance Right for You?
Term life insurance is an effective option if you are looking for an affordable life insurance Oakville option. It can provide temporary protection for the time in your life that you have the greatest financial obligation. For example a mortgage or business loan, or to provide coverage until your children are finished school.
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Whole Life Insurance
Universal life insurance is guaranteed, lifelong protection that allows you to invest and build your wealth. It’s also one of the most flexible and affordable products available that covers you for life. Your search for “insurance broker near me” and “ life insurance broker ” ends here.
There are two parts to a universal life insurance policy: insurance and investment. You choose your investments and wealth can accumulate tax-free, within limits set by the government. You’re able to withdraw or borrow from your policy, with certain tax implications. You can also choose who to leave your money to. Stop looking for a “life insurance broker near me” and “insurance broker Oakville” and call Volpe today.
Is Universal Life Insurance Right for You?
Universal life insurance is an excellent way to increase your savings in addition to your RRSPs and TFSA. This is a great choice if you want to leave more money for your beneficiaries. In addition, this is a tax-efficient way to protect the value of your business if you are a business owner.
Whole life is a permanent type of life insurance, meaning coverage is in place for life. As long as your premiums are paid, your beneficiary will receive the benefit amount upon your death. Policy premiums for whole life insurance are also guaranteed for life, meaning they stay the same throughout the time the policy is in place. Keep in mind that the younger you are when you purchase an insurance policy, the more affordable it will be. Stop searching for “life insurance brokers near me” and “life insurance broker Oakville”. Volpe has you covered.
Whole life insurance also provides a way to save for the future. The premiums you pay are invested, and the income it earns through dividends creates a cash value for the policy. The main feature of whole life insurance is that you can access this money in the future. It can be used in many ways such as to supplement your retirement income or help pay for expenses.
Is Whole Life Insurance Right For You?
Participating in life insurance has the benefit of lifetime protection but also has a significant savings potential. This is an innovative way to save for retirement and provides a more effective solution to plan your estate. Participating in life insurance is also a great choice if you are concerned about the effect of inflation on your death benefit. No more searching “life insurance broker near me“, “life insurance Oakville”, or “best insurance brokers near me” Volpe Financial Solutions is here to help.