X



Home Articles Insurance Life Insurance coverages. What Coverage is Right for You?
Life Insurance coverages. What Coverage is Right for You?
0 votes
November 29, 2011, by Insurance Vancouver bc in Insurance

Whether you are starting a family, buying a home or ensuring continuity in business and
estate planning, the purchase of life insurance will play an integral role.

There are two main types of life insurance coverage's:
Single Life
As the name suggests, single life coverage is
based on the life of a single individual. This
coverage pays a tax-free death benefit in the
event of that individuals death. At which time
the policy is considered matured.
 
Joint Life
Joint Life Insurance is a single contract based on the lives of two or more individuals. The Cost of Insurance used at the time of issue is lower than the single life cost currently charged and is fully guaranteed based on a Joint Life Expectancy.
 What Coverage is Right for You?
 
Joint last-to-die coverage is an essential part of estate planning. Typically, when the purchase of insurance is made it is to cover a single need; cash available upon the death of the insured individual. Many times this is an appropriate form of insurance coverage. However there has become an increasing need for that cash available on the death of a second individual, typically a spouse.
Despite positive outlooks on inheritance, a significant number of Boomers may not be properly prepared to manage this cash flow, nor have they explored strategies to ensure a legacy will be passed to their heirs. Joint Last-to-Die insurance
can address the growing concerns relating to:
Intergenerational Transfer of Wealth
Charitable Gifts and Legacy Planning
With uncertainty in the markets, aging generations who traditionally invest in fixed-income products are forced to balance a low rate of return with higher tax rates, inevitably forcing the sale of assets. These events will increase today’s tax burden and ultimately erode the estate you intended to leave.
 
Putting a Joint Last-to-Die product in place can
help mitigate these risks with such strategies as:
 Funding Capital Gains Tax
 Joint Insured Annuity
 Estate Equalization

How Can we help?

Questions about Insurance? 

 Ask us below or Call us Now at
778-988-6443
604-779-5297

First Name*
Last Name*
Email*
Cell Phone*
Home Phone
Age*
Gender*
Smoking Status*

What do you need?*
Questions / Comments
Enter the code:
 Reload image
 

Comments
Printer version
 Tags: Insurance, Life Insurance Vancouver, Disability, Mortgage Insurance, Insurance Vancouver BC


© FreeRealEstateAdvice.com, 2008 - 2012