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We know how useful a well designed life insurance policy can be when it comes to protecting the people who depend on you financially. Our team can help you find the best possible rates on great life insurance plans customized to your personal situation and backed by the best insurance companies in Canada.
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The simple answer is that we are the experts when it comes to life insurance in Brampton. We can get you the best rates from the top Brampton insurance companies in your area and all we need from you is a couple of quick details. Once you click on "get quotes" we instantly provide the top options for Brampton life insurance specific to you.
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How much life insurance do you really need?
Current Stage of Life
Depending on where you are in terms of life stage your life insurance requirements will be different. Young Canadians who have more financial commitments than older Canadians are likely to need greater coverage. If you have loans, mortgages and other commitments you will need more than the basic coverage to make sure everything is taken care of.
Number of Dependants
Depending on how many dependents you have the recommendation is to set up at least 5 to 10 times your gross annual income in life insurance coverage. Future education of your children should also factor in to the equation where a minimum of $10,000-$15,000 per year, per child is the recommended provision needed.
Inflation and Taxes
Remember your planning for the future and the value of a dollar today isn't going to be the same years from now.Â It's hard to factor in the perfect inflation rate but a reasonable estimate to use is usually 3% and a reasonable after-tax-investment yield is 5%.
Life insurance is a great way to reduce the burden on your loved ones. We recommend allocating at least $15,000 towards your coverage calculation to cover funeral costs. This ensures you've planned for any of those unexpected costs and provides comfort to your loved one's when you are no longer there.
What type of life insurance should you invest in?
When it comes to life insurance the two major options you have available are Whole Life Insurance and Term Life Insurance. There are some key differences between the two ranging from coverage and use of premiums to specific benefits which are very important to know before you make a choice on whether to proceed with Whole Life Insurance or Term Life Insurance.
When signing up for a whole life insurance policy its important to know the added benefits of the cash accumulation account component. From borrowing for a loan to using the funds to temporarily self-fund your insurance premiums the options are a real bonus to an already well structured life insurance policy....
Getting life insurance is no longer an optional life decision. In order to make sure your loved ones are cared for and all your financial obligations are covered signing up for life insurance at an early age is a must....
Knowing the difference between term and whole life insurance is important in ensuring you make the right choice when it comes to choosing your life insurance coverage. Let us help you navigate the key differences between the two. ...
Life insurance at any stage of life can be modified and customized to fit exactly to your needs. Learn why you need life insurance at every stage of life and how to make the most of options available to you. ...