Benefits term life are many and includes the following.
So here you will learn the answer to : What are the benefits of purchasing Term Life Insurance?
” You will have peace of mind and security knowing that you have planned ahead.”
- If you are carrying a mortgage balance then you can use term life insurance to cover the mortgage balance. This will eliminate the need to worry about mortgage payment burdens on the family
- A benefit of term life insurance is that it can be used for estate planning for your heirs
- Self employed individuals can also use term life insurance to cover any outstanding business loans
- The other benefits term life insurance has to offer is that it can be used to cover education costs for your children’s tuition.
- You can protect Your heirs can be protected with term life insurance by using it to offset capital gains taxes. If you have a cottage or income property it will be subjected to 50% capital gains taxes. Your heirs will get the full value of their inheritance and there will be funds left over to pay for the capital gains taxes.
- Term life insurance can also be used to keep you covered for a short term if you become unemployed and are no longer covered by your employer.
- Term life insurance can also be used as a buffer to a permanent life insurance policy. This will provide you with additional coverage.
These are some of the ways to reap the benefits term life has to offer. You can click here at any time to get a free no obligation quote. We are always here to help you if you have any questions about life insurance. Feel free to contact us through our online chat or by phone. (647) 558-7491 Ext 4694 we are always happy to help.