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Life Insurance

Choose the right life insurance policy

Having personal life insurance while you are young and healthy is difficult to envision. Even if you pass away, it can help protect your spouse, loved ones, and estate. Personal life insurance policies can also fund purchases such as buying a home or educating your children during your lifetime.

Who is covered by life insurance?

Like us, it is a contract with an insurer that promises a certain amount will be given to your beneficiary and estate upon death. The amount of your benefit depends on many factors, including the insurance policy you choose, your age, sex, health, and the amount of your premium. If you want a policy with fixed coverage and specific terms to one that gives you more flexibility, you can discuss these details with your advisor to select the right policy for your needs. In addition, if your financial situation changes, you can adjust your policy with the help of your advisor.

What are the benefits?

Life insurance can help you meet your goals in life and protect your family when you are no longer able. In the event of your passing, life insurance will provide your loved ones with the comfort of not having final taxes, debt, or other financial worries. Experiencing certain life events might cause you to reevaluate your financial goals and consider buying life insurance. You may get married, purchase a home, have children, or plan for retirement.

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A life insurance policy may also be required in certain business situations. You need to protect your enterprise and any partners if you are an entrepreneur or starting a new business. The right insurance solution can also enable your fellow shareholders or partners to buy out your interest when you’re ready to retire.

How to Choose the Right Policy?

Choosing the right insurance policy can be challenging. We suggest you consult a Pankaj Bhatia financial advisor to help with your options. You can trust Pankaj Bhatia from Insure In Canada to help you select the products and companies that best suit your needs.

Consider the following questions:

  • Do you know if the policy is suitable for my current needs?
  • Will the policy offer me the flexibility I need in the future?
  • What is the cost of the policy – both the present and future?
  • Does the provider have a solid financial foundation?
  • Does the company stand behind its guarantees?

You can choose between two types of life insurance policies from us: term and permanent. These policies are based on your finances.

A term life insurance policy

Term insurance is an excellent place to start if you’re looking for basic insurance coverage for a certain period. The plan offers simplicity, cost-effectiveness, and flexibility to conform to your long-term goals. To help you secure your financial interests and provide for your estate, we offer a variety of term life insurance products. Your needs could change over time. You can lengthen your coverage period with our term life insurance or even convert to permanent life insurance as your needs change.
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Permanent life insurance

The added investment potential of this option may be beneficial if you are looking for more than basic insurance coverage. With permanent insurance, you can protect against the unexpected while increasing the value of your investment. Plans with Pankaj Bhatia from Insure In Canada can be tailored to meet your personal financial goals regarding investment potential and insurance coverage. Alternatively, you might choose a plan that gradually reduces insurance coverage to maximize your policy’s investment potential.

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