The Things You Need to Know About Life Insurance by Nestor Blumwald

July 10, 2019

A question I get asked very often is “is life insurance a good financial investment? How would I know that I am getting my money’s worth”. The short answer to this question is yes, it is absolutely worth it and here are some key factors to consider:

Does someone rely on you financially?

If your answer is yes, then a life insurance policy is vital in order for your to protect the people that depend on you financially. Whether it is your spouse, a child, or a sibling, with a proper life insurance plan you would not have to suffer financially.

There are two main types of life insurance policies

The first type is called Term life insurance. Simply put, it is the least expensive and most widely used. Usually, Term insurance is paid for 10, 20 or 30 years.

Permanent life insurance is very similar to Term but it also includes a savings option. This option, often referred to as “cash value” ascertains that the policy lasts for a lifetime.

Life insurance can be very costly but also very inexpensive

Applying for a fancy Whole Life insurance policy may be appropriately expensive and heavily priced as you might require a high amount of coverage. However, you might be surprised to know that cost-effective and low premiums also exist. For example: if you are a healthy non-smoker you might pay as low as $400 per year.

If you found this article helpful, please check out Infinite Insurance or contact Nestor Blumwald directly at 416-720-7767.

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