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You can help your family and yourself by being prepared. Consider life insurance today and protect what matters most. Insurance made easy, simple and affordable.
When you die, life insurance provides a tax-free lump sum to the people you nominate as beneficiaries, usually the people you care about the most.
There are several types of life insurance solutions and different ways to benefit from them. In addition to protecting your family, some life insurances can be used as part of your wealth accumulation. As you pay into the life insurance policy, you may be able to access money in it as it grows.
There are two main types of life insurance: term and permanent. In order to meet distinct needs, each type has unique characteristics.
| Term life insurance | Permanent life insurance | |
|---|---|---|
|
Type of protection |
Temporary protection |
Long term protection |
|
Ways protection can work for you |
– Compensate for loss of income – Cover debts and funeral expenses |
– Compensate for loss of income – Cover debts and funeral expenses – Facilitate estate planning – Build up a heritage |
|
Cost |
Most affordable type of insurance |
Typically, more expensive type of insurance than term insurance |
|
Investment options |
No |
Yes |
Generally, the younger you are, the less your insurance will cost.
Chronic illnesses, lifestyle and family history can impact the cost of insurance and drive it up.
For example, women generally live longer than men. Their insurance could thus cost them less.
If your job is considered hazardous, the cost of your insurance may be higher.
| Pick-A-Term | Lending Institution | |
|---|---|---|
|
Control |
|
Lender requires a separate insurance policy for each loan.
Lender is the owner and beneficiary of the policy. In the event of your death, the lender repays the loan. In the event of disability or critical illness, the lender receives the money to make loan payments. |
|
Freedom |
|
The insurance amount decreases as the amount of the loan decreases. |
|
Guarantees |
|
Your premium may be adjusted based on your age, and your disability insurance premium may vary depending on interest rates. |
|
Peace of mind |
|
You generally receive advice that is limited to loan insurance with no consideration for you other financial needs. |
Our team can answer all your questions, understand your situation and help you build a plan
YOU can insure all your loan products under the same policy.