Finance Tax And Insurance Co-Ordinators Inc. logo

Finance Tax And Insurance Co-Ordinators Inc.

We Earn Your Business

Insurance, Investment, Mortgages

Life Insurance

Protect Yourself and Your Loved Ones

Life is full of unexpected twists and turns. Anything can happen. In these events, it is important to know that your family will be safe and secure. This is especially important if you are the primary breadwinner in your household or are a stay-at-home parent with young children. Life Insurance gives you the peace of mind that your family will be taken care of and have the finances to carry on when you cannot be there for them.

In the incidence of death, a life insurance policy will provide your beneficiaries with a large sum of money. This can be used in any manner, including covering the costs of funerals and medical bills, paying off outstanding debts, hiring a caretaker, seeking emotional and mental support, or simply making up for lost income. This will not only save your loved ones from unnecessary burdens; it will also provide much-needed security and comfort in a difficult time.

It's not just insurance. It's an investment.

There are three general types of insurance policies and each is designed to maximize the benefits your family will receive, nurturing the money that you invest.

Term Life Insurance policies are fixed for a certain period of time - anywhere from 10 to 30 years - and are designed to assure you while you are still young and healthy. During this time, you may have young children who need funds for education or marriage, or you may have loans and mortgages that need to be settled. Usually, the need for this type of policy passes with increased age, as your children become independent and you become free of financial constraints.

Permanent or Whole Life Insurance is a life-long plan that will protect you and your family throughout. The premiums are higher, but they never increase, and the payouts are much larger at the end. Depending on the policy, you may also receive dividends in various forms, including cash payments or decreased premiums.

Universal Life Insurance is a flexible form of permanent insurance, allowing you to modify your premiums in both value and frequency. Thus, as your needs change, your insurance can change as well. If you find yourself with extra capital, you can input it into your policy and allow it to grow tax-free. If you're in a financial bind, you can decrease your contributions. There are also additional options for personalizing the plan to your particular needs, making Universal Life Insurance a highly favourable choice.