Martine has a mortgage loan and protects it with term life insurance for 25 years.

She has a friend in the insurance business who told her not to fall into a trap with her financial institution.

At the time she signed her mortgage, her bank suggested that she protect her mortgage with a mortgage life insurance for $200,000.

Although it would cost her only $26.00 per month, Martine knows that the policy would only benefit the bank.

After 25 years of paying off her mortgage, the insurance coverage disappears without a trace.

If Martine dies after 23 years, the insurance pays $36000 (the remaining capital on the loan).

By taking out a term life insurance for $21.50 monthly, she can make sure that her family will receive the amount of $200,000.

Paul already has group insurance with his job but the coverage is inadequate.

Working for a well-known corporation, Paul is fortunate to have good group insurance coverage which gives him life insurance of $100,000.

It is not enough for his situation.

The amount he needs for his insurance is around $300,000. Paul wants to bequeath the sum of $50,000 to each of his children (he has 4) and $100,000 to his spouse upon his death.

After analyzing his options, he decided to turn to term life 100 years.

In doing so, he will never be subject to a price increase for the renewal of his policy and will enjoy a modest premium of $50 until his death.

Rosalie dreams of going around the world now that her children have left home.

This trip would almost completely deplete her savings.

Knowing that her debts are more than her assets, Rosalie (40 years old) spoke with a life insurance broker to ask for his advice.

Her mortgage is already covered, fortunately, but not her personal loans.

She does not want to leave more than $20,000 in debt to her two new grandchildren if she dies while traveling.

A term life insurance of this amount would only cost her $8.48.

Simon’s wife has just given birth to a baby boy..

…and Simon wants his child to get a good education at all cost.

Since his job is dangerous, (he is a roofer) Simon took out a term life insurance for 20 years for $20,000 (at $7.57 monthly).

Thus, if he dies, this amount will pay for the education of his son.

Isabelle put up a business and wants to cover her debts: she found the perfect solution.

Supporting her family and taking care of her doll-making business makes Isabelle anxious.

She borrowed $30,000 to finance her project and hired an employee to take care of her product line.

What happens if her employee dies after a year?

The training of a replacement will take time and result in loss of income for 2 months.

To protect her family, Isabelle will take out a term life insurance of $30,000 for her employee for a term of 10 years.

The cost is $7.00 per month.