Life Insurance Vancouver, BC
Modern life insurance policies were established in the United Kingdom in the early 18th century. As it did in 18th century England, life insurance today provides a cash death benefit in the event of death. The vast majority of people (especially those with dependents) require life insurance above and beyond what the typical pittance offered by employers. A premature death almost inevitably leads to financial hardship for the survivors.
With the increasingly uncertain times, and dynamic and fragile economies, we need to choose the right kind of insurance coverage to determine the care we receive should our health take a wrong turn. Furthermore, it is very important that we make sure we have the financial support that our family receives in the event of the untimely death of the income provider. It is essential to choose the right insurance products and at Camlife Financial, we can assist you with this. We will also help you look at whether the cost of buying insurance justifies the benefits covered under the policy. We will make sure the insurance covers all your dependents and that it also covers most of your health problems. Furthermore, we will look at whether you need pure insurance or if you need an insurance policy with an investment component. Camlife Financial can choose a product most suited to you.
Various Types of Life Insurance Services: Term Life Insurance | Creditor (Mortgage) Insurance | Permanent Life Insurance | Life Insurance for New Immigrants | Non-medical Life Insurance | Manulife Vitality | Term 100 - Permanent Life Insurance Universal Life Insurance | Whole Life Insurance | Medical Underwriting | Life Insurance For Business Owners | Corporately Owned Life Insurance | Saving money on life insurance
Who needs life insurance?
Ask yourself this question: Would anyone you care about suffer financially in the event of your premature death? If you have dependant children, the answer is yes. If you have a spouse, the answer is probably.
Who does not need life insurance?
If you are single you probably do not need life insurance. Usually the death of a single/childless person does not leave anyone worse off financially. A single person with a mortgage may still NOT need life insurance as their family would still inherit equity in their property. Single people need to prioritize critical illness and disability insurance.
How much life insurance do I need?
The primary purpose of life insurance is to pay off debts (especially a mortgage) and replace income for dependants of the deceased. We do a needs analysis to determine how much money your family would need to maintain their standard of living in the event of your premature demise. A commonly used guideline for someone in their 30s is 20 times after-tax annual earnings.