Protect and Safeguard Your Future With Insure Horizons

Term life insurance provides coverage for a specific period and is more affordable compared to other insurance policies. It is an ideal policy for income replacement. Whereas, permanent insurance covers you for your entire life, generally with a cash value component.

The best life insurance depends on the demand and needs of the people. The term life insurance is generally considered the best. It is considered the best, most cost-effective option for young families and for covering debts. For permanent coverage and cash value, whole life or universal life are better options.

A general rule is to have life insurance coverage of 10 to 15 times your annual income. It should include enough coverage of debts for any future goals, like children’s education. The goal should be to ensure that it is enough to replace your income so your family maintains their lifestyle.

This insurance policy lasts your entire life. It lasts as long as your premiums are paid. It includes whole life and universal life, which often accumulate cash value. This cash value component grows tax-deferred over time, which can be accessed for loans or withdrawals.

Yes, using an insurance broker in Calgary is highly recommended to navigate the market efficiently and secure better rates. A broker provides an expert settlement and saves time by providing multiple options. It also assists you with complex paperwork and claims. Finally, in the end, the broker provides valuable free advice, but the decision depends on your desire for expert advice versus managing the process yourself.

The major difference between them is that a broker represents the client’s interest while an insurer represents the insurance company. Brokers can compare plans from various providers, while companies only sell their own products.

This insurance policy is specially designed for those with severe health issues or who cannot get traditional coverage and require no medical exams for this. In this policy, the premiums are high, and coverage amounts are low.

Mortgage insurance is designed specifically to pay off your mortgage to the lender if you die or become disabled. In contrast, private life insurance purchased through a broker offers level coverage, and the payout goes to your family, not the bank. Bank mortgage insurance is convenient and easy to set up at the time of the loan, whereas private life insurance is generally recommended for better value, such as using funds for living expenses.

It is a policy covering two people, generally spouses. In this policy, the payout occurs only when the second person passes away. It is primarily used for estate planning, such as providing for estate taxes or providing for dependents. This policy offers lower premiums than two separate policies.

It is affected by various factors like your age, health, smoking status and dangerous hobbies like scuba diving. According to the rule for the younger and healthier people, the cost is lower compared to the unhealthier ones.

The average cost of life insurance in Calgary may vary. A healthy thirty-year-old person might pay less cost per month for term coverage of five lakh dollars. At the same time, a whole life policy is more costly per month for the same amount.

Yes, a broker can help you find companies that specialise in high-risk, chronic or pre-existing conditions. For pre-existing diseases, there is a waiting period of 24 to 48 months, depending on the intensity of the condition and the insurer.

A free-look period is a set time, commonly 15 to 30 days, after receiving an insurance policy. In this, you can review its terms and conditions and cancel for a refund. It excludes small charges like medical exam fees and ensures that you are not stuck with an unsuitable policy.

It depends on the policy; it may end, and you lose coverage. While sometimes you can revive the lapsed policy within a set period. It can be done by paying penalties; failure to do so leaves you unprotected.

Today is the best time to buy life insurance. The rates keep on increasing as you get older. If there is any sudden health change without any insurance, it can make you uninsurable.