Insurdinary 2017: Important Benefits of Life Insurance
When it comes to the benefits of life insurance, life cover is the primary benefit which pertains to the sum amount of money given to the insurer’s beneficiaries or nominees in the event of death, to ensure that they have a secure future. A life insurance can serve both as savings and protection because it is a long-term savings tool, helping insurers meet their financial goals after retirement, for a more comfortable living, and help achieve their future goals like supporting a child’s marriage. Life insurance offers tailor-made products suited for different life stages to achieve short-term and long-term goals such as purchasing a new house, education for your children, marriage for children, and creating wealth for retirement. When it comes to life insurance plans, the different types include retirement or pension plans, unit linked insurance plans (ULIPs), non-participating traditional insurance plans, term insurance plans, and participating traditional insurance plans.
Term insurance plans are the most affordable type of life insurance which provides a life cover for a specific time frame, and in the event of the insurer’s death, the nominee receives the benefit for his financial future. Participating Traditional Insurance Plans are those that provide both guaranteed and non-guaranteed benefits providing the insurer life cover and profits in the form of bonuses. Non-participating Traditional Insurance Plans provide life coverage and the opportunity to grow your savings. When it comes to Unit Linked Insurance Plans (ULIPs), it is a type of insurance plan that allocates various amounts to equity, debt funds, and life coverage. Unit Linked Insurance Plans offer a potential for higher returns and control and flexibility of money.
Pension or retirement plans are specifically designed in providing regular income to the insurer after retirement. With pension plan, you can either pay regular premiums or invest a lump sum amount during the premium payment term, and you’ll get a lifelong pension once you reach your retirement age. Some retirement or pension plans also offer extension of regular income to the insurer’s spouse once the insurer dies. Insurdinary is one of the best life insurance companies in Canada, offering life insurance without medical exam Canada based company. Insurdinary is your best partner when it comes to retirement and pension plans. It is best to secure your family’s future as early as now, get a life insurance now! No matter what your financial goals are, and no matter what your age is, it is never too late to get an insurance because you can never be sure of the future.