As you grow older is natural to begin thinking about the future. What will you do with your golden years? And what will happen to the people you love most when you die? Life insurance can assist! Although it’s something that people would only like to think about for a short time, having a financial plan could take a lot of the stress away, leaving you free to enjoy life to the highest degree.
What Exactly Is Life Insurance?
In simple terms, the term life insurance is an opportunity to secure an amount of money that could be taken by a beneficiary when your die. When you sign an insurance policy, you agree to pay a monthly amount to the insurance company in return for which they’ll distribute an agreed amount of money to your loved ones following your death.
At Ottawa Life Insurance Agency, know that your needs and priorities may alter over time. That is the reason our policies get created to be a reflection of you.
Do I Need Life Insurance?
Life insurance is an excellent choice for many. Suppose you’re in the middle of mortgage or debt payments as well as other debts you don’t want your loved children to be able to take on. In that case, this may help you feel more secure to have some security in your financial plan. It can also be helpful when you have dependents or want to leave a present for your grandchildren or kids.
What Is Covered by My Policy?
Our policies are full of life, meaning you’ll have protection when you pay your monthly premiums. The policy will cover the death of a person due to an accident as soon as you sign up. You will receive a payout three times the amount you choose to receive. You’ll get assured that those you love get covered in the event of an unexpected death.
Suppose you die from natural causes within the first twelve months of your insurance. Following the 1st year of coverage, you’ll get protected for any cause for failing. After two years, you’ll get covered for death for any reason. In that case, we’ll pay back the premiums up to the date, but not the amount of your benefit.
How Much Coverage Can I Get?
The amount of insurance you choose depends on what you want it to cover. What is your goal with life insurance? Will it cover funeral costs or any outstanding debts, or is it merely a way to help your children and grandkids live long and enjoyable life? Whatever your requirements are, it’s crucial to determine how much you’ll be able to pay each month and select an amount that aligns with your financial budget.
What Are the Costs of My Premiums?
Once you’ve selected your insurance, We’ll calculate the monthly premiums you’ll pay each month until your death or until the anniversary of your policy following your turning 95.
Suppose you’ve chosen the benefits increase option, and your premiums rise. In that case, they will increase yearly based on your policy anniversary. To calculate your monthly premiums, we’ll consider your gender, age, smoking status, benefit amount, and whether you’ve selected a joint or single policy.
The older you are at the time you apply for your insurance, the lower the cost we’re able to offer, which is why it’s a good idea to contact us promptly.
Why Go with Ottawa Life Insurance?
At Ottawa Life Insurance. We provide health, life, and group insurance for businesses and individuals in Ottawa. We’re here to assist you with your personal and business insurance needs. For further information, contact us at (613) 454-1424 or by email at info@ottawa-lifeinsurance.ca.
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