How To Get The Best Life Insurance
The Canadian life insurance industry is regulated by the government and has many laws in place to protect the consumer. Many independent associations also operate in Canada that work to ensure that life insurance brokers have access to continual professional development this combined with a commitment to continually improving the standards of qualifications make Canadian life insurance a safe product to purchase.
Who can you trust
How else can you be sure that the life insurance that you are purchasing is of good quality? All life insurance professionals are licensed, meaning in order to sell insurance in Canada they must pass the required exams. The Life License Qualification Program (LLQP) and the Life Licensing are exams that are specifically designed to provide that the broker or life agent is qualified to sell life insurance.
How Did Life Insurance Come Into Origin?
The History of Life Insurance
The History of Life Insurance can be traced back some 5000 years ago. There weren’t any documents to support the insurance policies, but there were still ways to promote it. The definition of insurance is to have coverage against a risk and if someone wants to protect one’s life, he/she can purchase the life insurance policy.
The first of all the life insurance policies
The concept of life insurance can be traced back to China some 5000 years ago. Insurance as in then was protection against pirates at sea. The way to protect a ship from falling into the hands of pirates was to allow other ships to carry the cargos of different ships so that if a ship was attacked by pirates,
Canadian Life Insurance Brokers
Canadian Life Insurance Brokers
Canadian Life Insurance Brokers are professionals who specialize in providing insurance policies from various insurance companies. The main difference between a broker and an agent is that the agent sells insurance from a single company. On the other hand, a broker represents multiple companies. This allows a broker to provide more options to find you the most suitable coverage at the best rates.
Licensing in Canada
In Canada, each province is responsible for specific licensing requirements for brokers. Thus, the province regulates and monitors the market to insure that fair and ethical practices are being followed. A Canadian life insurance broker is a particular type of broker who specializes only in life insurance.
Protect Your Family
Your top priority if you have dependants is to ensure that they are protected financially if you were to die or be unable to work for a prolonged period. Here we concentrate on the role that life insurance can play in your financial plan.
Bear in mind that not only the loss of a breadwinner’s salary could cause financial hardship: if you are caring for children, your spouse or partner might need to pay for professional childcare and/or babysitters if you were to die.
Similarly, you should take into account any extra costs of running the home, maintaining the garden, and so on. A nation-wide government survey found that housework, still done mainly by women today,
What Is A 10 Year Life Insurance Policy?
The 10 year term life insurance policy is one of the most easily explained and simplest types of life insurance. This policy has a guaranteed level premium and level death benefit for 10 years. With some insurance companies the insured is allowed to renew the policy every 10 years until approximately the age of 75.
A 10 year term life insurance policy is an excellent choice for high death benefit at a low premium. If you have a need for a large amount of life insurance on a limited budget, the 10 year term life insurance policy is ideal.
