sharonbaileynetwork No Comments

Term Insurance? What is it anyway?

term insurance from sharon bailey network insurance, your first contact for life insurance and term insurance we are your business solutions partner

sharon bailey network insurance. term life insurance for your family protection. When you need term insurance in the greater toronto area sharon bailey network insurance is the first contact to make. for in depth information about term insurance and how you can protect your families lifestyle. call us today 647-558-7491 ext 4694

Introduction to term life insurance.

Term life insurance is the focus of this article. This blog is the start of what we refer to as our online guide for term insurance. In this guide you will learn all there is to know about guaranteed term life insurance. Also referred to as term insurance, learn why it is considered to be the best product by so many. You will have a deeper understanding of how it works and see sample pricing.

Use the navigation guide below to quickly go to the topic you would like to learn more about. As always we are here to answer any questions you may have so feel free to contact us at (647) 558-7491 Ext 4694.  You can contact us through our online chat or you can leave a message in the comments below. You can click here if you would like to get a free quote at any time.

What is term insurance and how does it work?

Term insurance is the most affordable life insurance available and provides coverage for a predetermined period of time.

Some key features to know about term life insurance:

  • The premiums are the most affordable in a term life insurance policy than they are for any other policy type.
  • The premiums are guaranteed not to go up for the entire term for as long as you hold the policy.
  • The policy term can be 10 years, 15 years, 20 years, 25 years even 35 years.
  • This type of policy only provides a lump sum death benefit. There is no cash value accumulating or investment portion. The only payout is the death benefit to the designate beneficiary of your choice.

Term Life Insurance does not provide the following:

  • there is no investment portion as part of your payment and no cash value accumulates
  • There is no dividend paid out at the end of the policy’s term
  • Similar to car insurance if you cancel your policy you do not receive any funds back

This type of policy is referred to as “Term” because it is coverage that is specific to a predetermined number of years.

For example 10 years, 15 years, 20 years or even up until a certain age such as 65.

In conclusion…

as you can imagine there is a lot to know about life insurance so it is always best to speak with an agent. For the best assistance seek an advisor  with an in depth understanding. This can be the best to assist you with your life insurance needs. We are here to assist you and would love to help create a customized insurance plan that is tailored specifically for you. Call us at (647)-558-7491 Ext 4694 or chat with us online. Feel free to leave a comment below. We would love to hear from you. Click here for a free no obligation quote.


sharonbaileynetwork No Comments

Term life Insurance. Spot the differences.

term life insurance sharon bailey network term insurance, toronto insurance,brampton insurance, mississauga, term insurance

sharon bailey network term life insurance sharon bailey network term insurance, toronto insurance,brampton insurance, mississauga, term insurance

Term life insurance: Did you know?

“While most permanent life insurance policies require a medical examination there are some term insurance policies that do not require  a medical examination to qualify.”

What is the main difference between term life insurance and other types of life insurance policies?

Other insurance policy types such as permanent life insurance include policies such as whole life, and universal life insurance. The main difference between term life and permanent life is that term life only pays out a death benefit and is only covering you for a specific term. Permanent life on the other hand, has a portion of your premiums that go towards an investment. This creates cash value in your policy. In addition, a permanent life insurance policy covers you for your entire life.

How do I know how much coverage I need?

It really depends on what your goal is and what expenses and obligations you think you would like to cover. As far as the death benefit coverage amount, the decision is really up to you. As a guide you can use our needs analysis calculator. The calculator results can give you an idea of the financial obligations you currently have. You can also plan for any additional expenses you would like to cover. This will include expenses such as children’s education and capital gains taxes on your estate. You can also get a good indication of what the premiums would be based on the coverage amount you select. At any time you can click here to request a free no obligation quote.

For a more detailed and personalized needs analysis, feel free to contact one of our friendly advisors. It is amazing how much you can learn about life insurance over a cup of coffee. Feel free to contact Sharon Bailey Network – Insurance div. at (647) 558-7491 Ext 4418.  We are always happy to hear from you.