life insurance faq

Term Life Insurance

Whole Life insurance

Layered coverage

Disability Insurance

Business Overhead insurance

Buy/sell coverage

Final costs coverage

Estate protection plans

Cascading life coverage

Critical Illness insurance

Return of premium benefit

I believe most people need life insurance but the needs for coverage vary a great deal. there are many factors that make up a needs assessment including dependents, income, age, plans for the future, savings and expense goals, debts, and the purpose of the insurance. Some clients want to ensure their debts are paid at death, others want to protect their working years of income, some want to use permanent insurance as an asset class for their estate and still others want to protect all of the above and ensure kids tuition and the cottage are paid for if something tragic happens. Life insurance is the selfless purchase and for relatively small premiums most can cover their needs and goals and most should to ensure that during one of life's most difficult times finances do not compound the grief. 

As a broker I have the option to find the medical process that fits your comfort level best. There are insurance companies that offer non-medical products. These are usually questionnaire based applications that have you answer yes and no questions. Once you have a negative answer, that answer will determine the unit cost, coverage limits and tyle of insurance you are guaranteed to receive. There are also simplified medical applications similar to the the guaranteed issue but have an additional check through the medical information bureau. These checks are done by the underwriters behind the scene to verify your answers to the questionnaire but are low maintenance to the client. Finally there is full underwriting. Full underwriting may or may not (based on age and amount of applied coverage) include a visit to the house from a nurse for vitals, blood work, a letter to one's doctor(s) and or a full medical history interview.