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8 Lessons Learned: Insurance

Insurdinary 2017: Important Benefits of Life Insurance

When it comes to the benefits of life insurance, life cover is the primary benefit which pertains to the sum amount of money given to the insurer’s beneficiaries or nominees in the event of death, to ensure that they have a secure future. A life insurance can serve both as savings and protection because it is a long-term savings tool, helping insurers meet their financial goals after retirement, for a more comfortable living, and help achieve their future goals like supporting a child’s marriage. Life insurance is a great option that can be tailor-made according to your needs and preferences to help you achieve your life goals in terms of supporting your children’s education, marriage of children, buying a new house, or saving for retirement. Life insurance plans have different types including term insurance plans, participating traditional insurance plans, retirement and pension plans, non-participating traditional insurance plans, unit linked insurance plans (ULIPs).

The most affordable type of insurance plan is term insurance plan that provides a life cover for a specific period of time, and this insurance plan solely provides protection of your family’s financial future if there’s something bad that will happen to you or in case of death. Participating Traditional Insurance Plans are those that provide both guaranteed and non-guaranteed benefits providing the insurer life cover and profits in the form of bonuses. Non-participating Traditional Insurance Plans provide life coverage and the opportunity to grow your savings. Unit Linked Insurance Plans (ULIPs) involves investment on debt funds and equity and a part of the premium goes to your live cover and the remaining amount is allocated to various funds. If you want flexibility and control of your money, and higher returns, Unit Linked Insurance Plans are the best option.

Pension or retirement plans are specifically designed in providing regular income to the insurer after retirement. A retirement plan is a good source of income once you reach the age of retirement, and you can either choose to invest a lump sump money or pay regular premiums during the payment term. Some retirement plans also provide regular income to continue for your spouse in case of the insurer’s death. If you are looking for the best life insurance company in Canada, Insurdinary is your ultimate partner to get the best plan for you. Whatever type of life insurance you are looking for, Insurdinary can help you find the best life insurance for your needs. it is high time to think about your future and your family’s future, get a life insurance now and secure your future. You can never be sure of your future so it is best to be prepared and secure your future through a life insurance coverage.