Why you need life insurance? — quote from trustable insurance agent today

Every individual, at some point in their life, confronts this existential question: “What will happen when I die?” Naturally, there’s no definitive answer, as every person’s life story unfurls differently and predicting the future is an impossibility. But one thing we can control in our uncertain futures is the decision to purchase life insurance – a fundamental aspect of financial planning.

According to a survey by Ipsos-Reid, conducted on behalf of RBC Insurance, seven out of ten Canadians (70%) possess life insurance, while the remaining three (30%) do not. 50% of these Canadians indicated that they individually procured their life insurance, while 25% noted that they have coverage from both their work and personal plans. The remaining 25% declared that their life insurance coverage only came through their workplaces.

Procuring life insurance protects your family and loved ones by providing them with a tax-free payment after your passing. It’s important to note that insurance providers determine your rate based on your unique circumstances and requirements. The cost of the life insurance you personally purchase also depends on various elements: your age; gender; health conditions; medical history; and lifestyle. Below we list the types of life insurance available:

  • Term Life Insurance:This type of insurance furnishes a set amount of coverage for a specified amount of time – offering temporary protection that can adapt to meet your evolving needs.
  • Permanent Life Insurance:This category of insurance, furnishing lifelong coverage, can also build up cash value over time, depending on the type of permanent life insurance you buy. Some permanent policies even allow you to pay limited-time charges before stopping all payments.
  • Participating Life Insurance:This form of permanent whole life insurance permits the policyholder to access a sum of money. This can be channeled toward buying more coverage, reducing annual premium costs, or earning interest within the plan. It is critical, however, to note that dividends are not always guaranteed.
  • Universal Life Insurance:Offering a flexible form of permanent life insurance plan that melds protection with savings, Universal Life Insurance guarantees death benefits to your chosen beneficiaries. This signifies that payments made beyond the cost of insurance can grow within a tax-preferred savings account or can be used to amplify the magnitude of your death benefit.

Whether customers are exploring life insurance options, learning about their imminent life policy renewal, or aiming to economize their current policy, understanding life insurance and how a policy works is of utmost importance.

At Oracle RMS, we dedicate ourselves to informing our customers at every step – before, during, and after the policy plan purchase. We assign each customer and client a licensed Oracle Life broker, fully committed to accommodating their life insurance needs. Oracle RMS is devoted to offering the following life insurance services:

  • Custom-made life insurance policy that aligns with our customers’ budget and necessities rather than a generic policy.
  • Prudent solutions for optimum coverage for all types of life insurance to guide the best possible decision-making.
  • Professional, friendly, and responsive customer service from our dedicated brokers and service representatives.
  • Ensuring our clients’ peace of mind throughout the entire process – from quotes and renewals to claims.