No one can predict the future. What if a bus hits you today on your way to the office or the market? What if you have a sudden heart attack and drop dead? How will your family feed themselves, take care of the kids? Do you want your family’s life after you be even worse than that accrued to your sudden demise? If not, you need a plan for the future. Term insurance is a different but equally effective answer.
Most people view life insurance as only effective after one’s death. What you do not realise is that buying life insurance is basically investing your money into the market, which will give you returns. There are various arguments to be made in favour of buying term life insurance, some of which are elaborated below:
• Ensure that your family will be stable financially after your death: this can be considered to be the foremost reason to buy insurance. If you are the sole breadwinner in your family, your untimely demise can debilitate your family financial standings. It can be the saviour for your surviving dependents.
• Save on your taxes: most countries have made paying premiums of life insurance as tax-free. So if you are looking to stow away that extra cash without the IRS knocking down your doors, buy one now!
• Enjoy your retirement: ensure a regular income even after your retirement with term insurance policies. It works like a pension plan for as long as you live- guaranteed stream of income.
• An effective Money-saving tool: invest your extra money and earn cash value. You can borrow it or sell it or draw interest from it periodically.
Why wait? Get yourself insured now, and live stress-free!
Any policy investment that gives cash returns is subject to market risk. Consult at length with your insurance agent, read the offer documents carefully, and choose the policy that suits your pocket size and family needs. Term insurance Canada will give you a hassle-free, stable income system for your senior years, even after your passing.