A life insurance policy provides a one-time, tax-free, cash benefit to your chosen beneficiaries when you die.
The appropriate type and amount of life insurance for you will depend on your unique needs and circumstances.
Choosing an appropriate life insurance policy can mean the difference between leaving your loved ones well-positioned financially and leaving them to cope with debts and an inadequate income.
Life insurance products can also be part of your financial plan, and may be an option for providing access to cash within your policy while you are alive.
Ensure the people you love are financially protected.
Life insurance can cover debts like a mortgages or loans.
Protect your spouse and the plans you’ve made for the future.
Speak with a professional advisor who can help.
Cost will depend on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. But there are many factors that determine the cost of your policy, including:
Generally, insurance cost less for younger age groups, and more for older age groups
Women live longer than men on average, so insurance may cost less than for males.
Your unique health history, family history, chronic diseases and lifestyle can impact costs.
High-risk occupations can increase cost. Conversely, low-risk occupations can reduce cost.
Your assets & net worth
Your expenses and family needs
Other insurance you may have
A professional advisor can assist you with calculating your insurance needs.
Talk to an advisor who can understand your situation, answer your questions and help you build an insurance plan appropriate for you and your family.