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| Frequently Asked Questions |
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WHAT IS TERM INSURANCE?
Term life insurance provides affordable financial protection for a specific period of time that would help your family in the event of your death. Term plans provide a death benefit only and do not include cash values. The premium for term coverage may change periodically, for example, every 10 years. Most term policies give you the option to change to a policy that provides lifetime coverage, with no medical questions asked.
WHAT IS PERMANENT LIFE INSURANCE?
Permanent life insurance is an excellent choice if you are looking for long-term protection. For example, a universal life insurance plan combines lifetime protection with a tax-sheltered investment fund. Not only will the policy help your family cope when you're gone, but it can also build you another nest egg for your retirement. Based on individuals needs, universal life options can, in some cases, be complex. We recommend you discuss your options in detail with an insurance specialist.
I AM SINGLE, DO I NEED REALLY LIFE INSURANCE?
While each person's financial situation is unique, you may wish to review your current financial situation to help you itemize what you owe and what you own.
WHAT IS DRIVER'S ABSTRACT?
A Driver's Abstract is a snapshot of a driver's history. It usually contains a driver's name, license number, class, expiry date, conditions and restrictions, height, date of birth, gender, driver's convictions, suspensions, reinstatements over the past 3 years as well as conviction dates, earliest licensed date available, demerit point total and medical due date.
AUTOMOBILE INSURANCE?
Automobile insurance is written on a standard policy form throughout the insurance industry. Limits of liability purchased should be given the same careful consideration as general liability insurance. To ensure an adequate level of protection, higher deductibles are generally required for heavier, higher value vehicles.
WHAT IS DISABILITY INSURANCE?
Disability insurance plays an integral part of your family's financial security by paying you an income if you are unable to work as a result of an accident or illness. Your employer may offer some form of disability insurance to you.
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