Term Life Insurance Vancouver
Unlike Permanent Life Insurance, Term Life Insurance is a type of coverage that is finite in duration. These are generally lower cost and intended to expire within your lifetime under normal circumstances. The most appropriate uses of Term Life Insurance in Vancouver are needs of a transient nature, such as mortgages, income replacement until retirement, or for extra financial protection while your kids are still young and dependent.
How To Know If Term Life Insurance is For You
To determine whether Term Life Insurance is the most appropriate type, you should ask yourself whether you are addressing a need that will go away over time. For example, a mortgage is paid off after 25 years, your toddler will be self-sufficient in 20 years, your spouse will no longer depend on your earned income at retirement age when the retirement account kicks in etc.
Some people may also choose to apply Term Life Insurance in cases where the need is permanent, but the current financial situation is temporarily more strained. You can then exercise the guaranteed conversion clause of the Term Life policy to switch to a permanent a later date, albeit at a higher rate than today’s rate.
Contact Us Vancouver Term Life Insurance Company
Contact us at Venture First Advisory and we’ll help you get the term life insurance that best suits you and your family’s needs. We’re the experts in helping you get the best insurance policy for with your best interests in mind.