CHOOSE YOR HARD

CHOOSE YOUR HARD

Some will choose coffee over tea

Some will choose lemon over lime

Some will choose butter instead of margarine

Some will choose plant based food over animal origin

Some will choose organic over GMO

Some will choose to live in Ontario and not Nova Scotia

Some will choose to live in Canada and not USA

You can choose to set up Temporary life insurance instead of permanent life insurance or vice versa

However know the pros and cons before you decide

Term Insurance

• Cheap but lapses after a certain set period
• May or may nor be renewable or convertible to permanent
• Does not have cash value
• You can't borrow against the policy
• Upon renewal it would cost more say 4, 6,or 20? times the old premium
• 95% of this policies do not payout death benefit because the insured outlives the policy
• Access to half of your face amount(death benefit) up to $250,000 if diagnosed with a terminal illness

Permanent Life Insurance

• It covers you throughout your lifetime
• Disciplines you to save more and invest
• It build up cash value
• You can use the policy when you are alive eg borrow against the policy called collateral loan
• It can be structured to have rider(bundles plan) eg child rider, critical illness etc
• It would payout someday
• Some plan offers performance and accumulate bonus?
• Living benefits- access to money if you are disabled

Access to half of your face amount(death benefit) up to $250,000 if diagnosed with a terminal illness

#choose#be informed