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Home Articles Insurance Understanding Your Life Insurance Options
Understanding Your Life Insurance Options
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December 21, 2011, by Insurance Vancouver bc in Insurance

The primary purpose of life insurance is to:

Replace income in the event of the death
of a wage earner
Pay debts (such as a mortgage) on death
Pay final expenses
Pay tax due upon death
Create an estate
Conserve an estate
Maximize an estate
Equalize an estate
Provide an endowment to a charity
 

 Two Types of Life Insurance

 

Term
Permanent
 

Who Should Buy Term Insurance?

 

Individuals looking for:

Coverage for short (10-20 years)
periods of time,
Mortgage repayment,
Debt repayment,
Income replacement, or
Any temporary need.
 

Who Should Buy Permanent Insurance?
 

Individuals looking for:

Coverage which will last for a lifetime,
Estate creation, conservation, maximization
or equalization,
Part of an insured annuity or pension maximization,
Providing an endowment to a charity, or
Any permanent need.
 

How Can we help?

Questions about Insurance?
Ask us below or Call us Now at
1-855-598-8859

604-267-7030

 

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