Get Life Insurance Quotes for Term Life or Permanent Life Insurance
Do you need life insurance? This may be a question you are asking yourself now.
If you have a spouse that is not working, children or dependent parents, a mortgage or other debts, own a business, then the answer is a resounding YES.
Life insurance is not for you but a gift to the people you love and care about. Life insurance is designed to protect the financial security of your family so that they don’t have to worry if something bad should happen to you.
You can obtain free life insurance quotes today to check on best coverage and premiums in Quebec.
What is the best life insurance for me?
It is critical to choose the right life insurance policy that suits your needs and budget. Your choice must be based on several factors:
Insurance Needs
You must consider the reason you need life insurance. How many more years until your mortgage is paid off? What other substantial debts do you have and for how much longer? How old are your dependent children?
In considering these questions, you need to determine how long you need coverage. If you choose to buy term-life insurance, you can choose from 5, 10, 15, or 20 years. You can also choose permanent life insurance which provides lifetime coverage.
You must carefully consider the benefits of term life vs. permanent life insurance. Learn more about the cost of life insurance in Quebec to determine your best options.
Affordability
You’ll be paying for insurance premiums for many years. It is critical that premiums suit your budget. You can get locked-in rates for life insurance which means your premiums won’t increase during the life of your policy.
Please note that if you go for term-life insurance, your premiums will increase when you renew at the end of the term.
No life insurance policy will suit everyone because individual needs vary. Your father’s life insurance, or the one your best friend has, may not be ideal for you. Look at your personal circumstances, what stage of life you are in, and what you can afford.
The cost of life insurance also varies based on gender, age, health, medical history, and lifestyle.
Compare The 4 Main Types of Life Insurance Policies
| Term-Life | Permanent | Universal | Participating | |
| Benefits | Flexible, renewable depending on needs
Cheapest insurance Convertible to permanent life |
Lifetime coverage
Cash Value |
Lifetime coverage
Growing cash value and death benefits Can earn dividends |
Lifetime coverage
With investment opportunities, tax-preferred Growing cash value and death benefits |
| When Benefits are Paid | Upon death of the insured within the term, No benefits if death occurs after the term | Upon death of the insured without limits | Upon death of the insured without limits | Upon death of the insured without limits |
| What is the benefit? | Tax-free cash benefit to beneficiary | Tax-free cash benefit to beneficiary | Tax-free cash benefit to beneficiary | Tax-free cash benefit to beneficiary |
| Method of payment | Lump-sum, Cash | Lump-sum, Cash | Lump-sum, Cash | Lump-sum, cash |
| Premiums | Fixed during term, increases upon renewal | Guaranteed | Guaranteed | Guaranteed |
| Best For | Price-conscious individuals, Needs temporary coverage |
Individuals who want lifetime protection
Individuals who want cash value for their policy |
Individuals who want tax-free investments
Don’t want to be involved in investment decisions Want increasing death benefits over time |
Individuals who want to be hands-on with investment opportunities
Want increasing death benefits over time |
Taking out a life insurance policy is a gift of love you can give to your family.
The best time to buy life insurance is as soon as you can. Because we never know what life brings, we shouldn’t wait for a better time to buy coverage.
You can compare life insurance quotes online to find out how much a life insurance policy will cost you and which one suits you.
You can also ask questions from an experienced insurance broker from our network.
How do Insurers Calculate Premiums for Life Insurance?
The cost of life insurance depends on factors used by insurers to calculate risk and interest.
Some of these factors are the same for auto and home insurance such as age, gender, lifestyle (smoker or non-smoker). Non-smokers qualify for lower premiums while smokers pay higher premiums.
Generally, women pay lower life insurance premiums than men. The older you are, the higher your life insurance premiums.
Most insurance companies also use credit scores in calculating insurance premiums. If you have a good credit score, it can help to lower your insurance rate.
For life insurance, other factors will help to set the cost of your premiums.
- ✓ Type of policy
- ✓ Amount of Coverage
- ✓ Health
Permanent life insurance is for lifetime coverage and is significantly more expensive than term-life insurance. The higher the amount of your coverage, the higher your premium.
Apply for Life Insurance with Accurate Information
When you apply for a life insurance, the insurer will obtain your personal information and request you to undergo a medical exam. It is critical that you provide accurate information because non-disclosure or providing false information can lead to denial of your coverage or non-payment of future claims.
No Medical Life Insurance
You can also choose not to undergo a medical exam and obtain a no-medical exam life insurance coverage. However, premiums for this type of policy are also more expensive than standard policies. Most insurers also offer limited amount of coverage for no medical life insurance plans.
Life with Critical Illness Insurance
Today, many people get diagnosed with a critical illness such as cancer. This is a risk that puts your family’s future in jeopardy. What would happen if you can’t work anymore?
Life insurance with critical illness provides coverage for serious health conditions but will also significantly increase your premiums. Individuals over 60 years of age or with pre-existing medical conditions will also have higher insurance premiums.
This type of policy is unique because it provides living benefits that can be used for hospitalization or other expenses.
Learn more about the benefits of life insurance with critical illness and obtain free quotes to compare costs.
Decreasing or Increasing Term Insurance
Term life insurance guarantees that your dependents receive benefits within a specific period if you should die.
Many people obtain term life insurance to cover a mortgage or debts.
In this scenario, a mortgage may be paid off after 15 or 20 years after which the term insurance may not be necessary. Further, dependent children would be finished with their education and independent.
It is also possible for some individuals to want their insurance coverage to reflect inflation increases. You can have a policy where it is linked to inflation measures.
Your amount of coverage can increase yearly and will result in increasing premiums over time.
Life insurance can be tailored to meet your unique needs and help you to plan your family’s financial security.
Compare Life Insurance Solutions with Free Insurance Quotes
The best way to find the right life insurance is to compare what’s out there.
With our wide network of insurance brokers and agents in Quebec, you can easily find the best insurance coverage suited to your needs.
Using the information you provide on our online request form, qualified insurance representatives will provide you with tailored insurance quotes you can choose from.
Compare life insurance policies based on amount of coverage and premium costs. Choose from a variety of life insurance companies in Quebec with proven track record and financial strength.
Fill-out our quick online form today to connect with experienced insurance brokers and agents in your area.
Our insurance quotes are absolutely free and no obligation!
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