Congratulations on choosing to purchase life insurance and protect your financial future. Think of buying life insurance and an item to mark off your Adulting To-Do list.
It’s a smart decision that enables you to protect what you love, financially, in the event of your premature death.
Dickson Insurance is an independent broker, it means we focus on you, the client, rather than selling for a single or small group of insurance providers.
Do I Need Life Insurance?
The short answer, is that if you think you *might* need life insurance, you very likely do. Life insurance helps to financially protects your loved ones in the event of an unexpected death. Whether you support your dependants with income and/or caretaking, consider how they would be impacted if you were no longer around. It’s unpleasant to think about, but it’s better to plan ahead of the worst, than for people you care about to be left without a plan in place.
Does It Matter Where I Buy My Insurance?
Yes, it does. Thankfully, there are many reputable insurance companies in Canada that offer a range of products and services. If you purchase from a diverse, independent broker, then you have access to all of these products as well as expertise and recommendations to match your needs and preferences to a company that suits you.
What Options Do I Have To Pay For My Insurance?
You can choose to pay for your premiums monthly or annually. Payments are usually made by automatic withdrawals from a bank account.
If you decide to pay monthly, the cost will be slightly higher than a single annual payment.
Ask your insurance broker if you would like to pay with a credit card, as there are a limited number of companies that accept this.
For corporate policies, cheques can be accepted with varying payment schedules (i.e. quarterly).
What Is The Cost of Life Insurance?
The final cost of a life insurance policy is based on the:
Amount of insurance you buy;
Age and health of the insured person.
These factors are reviewed on your application during the underwriting process. When a decision is made, your final price will be confirmed. Insurance rates are generally quoted on a “standard” rate. The final price may be higher or lower based on your age, health and if you choose to take a higher or lower insurance death benefit.