Life Insurance Quotes and Rates Canada: FAQ’s
Life insurance is important for everyone who is concerned with the financial affairs of their loved ones after the pass away. We are experts at life insurance policies and work with clients every day to find the most affordable free life insurance quotes. Insurance can be confusing, so here are a few answers to the questions we are most frequently asked.
Who should have life insurance?
Almost everyone should have a life insurance policy. Life insurance protects your loved ones and keeps them from having to cover your potential debts and the expenses associated with a funeral. It will also offset the loss of income experienced by spouses and children. Anyone who wants to make sure their loved ones are financially secure after they die should have a life insurance policy.
Can I name someone other than a relative as the beneficiary of my life insurance policy?
Most people name family members as their insurance beneficiary. However, it's possible to name someone who is not related to you as well. You should look into local laws before making this decision.
How much life insurance do I need?
The amount of life insurance required is different for each person. On average, many advisors suggest that you have five-to-ten times your annual salary in insurance plus the total amount of all your debts (including mortgage) plus required funds for your children education. However, it's important to review your needs and find the correct amount for you. Having too little insurance can leave loved ones without enough money, but having too much insurance can increase your premiums and provide you with unnecessary coverage. It is a good idea to review your life insurance policy with a specialist at least every five years because your insurance needs change over the years.
I have a workplace life insurance plan. Do I need additional coverage?
In many cases, it's preferable to have an additional life insurance plan, even if your workplace already offers one. You should review your workplace plan carefully, and think about how much money you will be leaving behind. You should also investigate what will happen with your policy should you lose your job.
Are there advantages to getting a joint policy with my spouse?
In many cases, yes. Joint policies are often less expensive than two individual policies. You can often save around 15% on your life insurance premiums with a joint life insurance policy.
What are the benefits of using LifePolicyQuotes.ca to shop for life insurance?
There are thousands of different life insurance plans available across the country. The best way to save money on life insurance is by carefully comparing these plans and finding the best, most affordable one for you. However, this process is often time consuming and sometimes confusing. LifePolicyQuotes.ca can find you the best life insurance rate for free with no obligation to proceed!
Our experienced team can quickly and easily find a life insurance policy that meets your needs. Complete our online form to start the process. It only takes a couple of minutes!
What's the difference between the various life insurance plans available?
Every life insurance company prices their policies differently. They also offer different benefits and payment schedules. The best way to find a life insurance policy that suits your needs is to compare specific policies with one another. If you're ready to start the process, complete our online form today!
Clients Say...
"I wanted to make sure my family was taken care of after I passed away. I tried looking for an insurance policy on my own, but all I heard were sales pitches from agents and confusing jargon. LifePolicyQuotes.ca found me a great insurance rate for free and it look only a few minutes of my time!"
Jason H, Toronto, ON
