Term Life Insurance is a type of life insurance that guarantees payment of a stated death benefit if you happen to pass away during a specified term. Once the term expires, you can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.
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The number one reason you should get Term Life Insurance is because it is guaranteed. Term Life Insurance means the payment of your death benefit is guaranteed if you die during the specified term. Term life premiums are based on your age, health, and life expectancy.
There are a number of Pros and Cons to Term Life Insurance to consider before making your decision.
After assessing your personal insurance needs, we strive to provide timely advice for every season of life. We recognize that your insurance needs may change over time and as such we offer annual policy reviews and are always available for any questions that might arise. It is important that you feel you have the right insurance coverage regardless of life stage.
Although term insurance generally provides temporary coverage for a specified period of time, it can be used to provide temporary, comparatively inexpensive coverage for a permanent need. If your budget is tight, having the right amount of life insurance may be more important than having the right kind, at least for a period of time. The key is that you have coverage for when you need it most.
The good news is that term insurance can be purchased on its own or added to a permanent life insurance policy as a rider. Down the road, if you don’t need the term insurance anymore, you can drop it. If you need more permanent coverage and don’t want to worry about qualifying for it by having good health and habits, you can convert some or all of that term life insurance to permanent life insurance.
At SafeBridge our access to the top Life Insurance companies sets us apart. With over 20+ years in the Life Insurance space, our team of licensed Life Insurance professionals is qualified to help you find the best Term Life Insurance policy that matches your financial goals.
Each individual client is unique and we pride ourselves in customized solutions that solve your unique challenges with regards to Term Life Insurance.
When you work with SafeBridge, our team of professionals take the time to understand your situation and come up with the perfect insurance solution. It is always in your best interest to work with a company that will not only help you get the right Life Insurance, but also ensure it is structured properly to help achieve your financial goals. As a company we help thousands of clients each year find the perfect Term Life Insurance products to fit their needs.
Let us help you find the perfect Insurance solution for your situation. At SafeBridge we provide a complimentary 30 minute review of your existing insurance policies and take a look at your insurance needs. With access to the most trusted insurance companies in Canada we are able to help you make the best choices and feel confident that you are fully covered in the event of illness or even death.
With over 20 years in the Insurance Industry we are confident that our team will ensure you get the best insurance solution possible.Apply Now
Term insurance provides temporary coverage on a cost effective basis and is often popular for younger people. Term Life Insurance is a type of life insurance that guarantees payment of a stated death benefit if you happen to pass away during a specified term. Once the term expires, you can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.
Term life insurance is temporary coverage. It provides that coverage for a set number of years or until a certain age. It may be renewable for the same period or until a set age, at a higher rate which is usually guaranteed in the contract. The coverage amount stays the same if that’s what you want. You can lower the amount of life insurance down the road to keep the premiums in line with your budget. The rates down the road generally don’t depend on you maintaining your health or healthy habits; just your age.
Many Term Insurance policies offer a feature that allows you to convert your term coverage into permanent coverage. You may have heard the phrase, convertible term. This may be an attractive feature for people who need permanent protection but are on a tight budget at the present time. People can buy the amount of coverage they need now at affordable rates within their spending limits now and convert some or all of that temporary protection to permanent protection once their financial situation improves. The ability to convert to permanent life insurance is not based on your health at the time you exercise the conversion option
Chris is a Co-Founder and Financial Advisor at SafeBridge Financial Group, the originators of Mortgage Centered Financial Planning, and is passionate about serving his clients and empowering the incredible team to “Be Better. Be Inspiring.” Prior to co-founding SafeBridge, Chris started his career as a Financial Advisor with Sun Life Financial, formerly Clarica Financial Services, and had the privilege of serving many clients financial needs for over a decade.
Over the last 20 years we’ve been successful in attracting over 60 various lenders that our clients can benefit from. SafeBridge has evolved over the years and has become a very successful company…. The education, that comes along with not just the mortgage agent side of things, but also on the insurance and the investments and the financial planning all comes together in one holistic approach.
Dena is a seasoned Mortgage Broker with 24 years experience in the financial industry. She started her career at Canada Trust as a part-time Teller while attending York University. During her 15 years with TD Canada Trust, Dena held various positions of increasing seniority. As a Senior Financial Advisor she gained knowledge in many disciplines in the banking and investment arena.
For several years Andre has worked in the Financial Planning and Mortgage Solutions field with Scotiabank. After experiencing success, and gaining a wide knowledge base in the banking world, he decided to leave the bank to join a Boutique Mortgage Brokerage, Safebridge Financial Group. Andre made the change so that he could offer clients a wider variety of mortgage options and lenders.
At SafeBridge we believe in experiencing growth together. We want to ensure that each of our agents is successful and feels a part of the SafeBridge team. We offer customized training, lender previews, team events and even team trips to build the strong culture of inclusion and support that so many of our agents enjoy.
We believe it is essential to hire and Partner with the right people. We are looking for the best and brightest in the Industry to join our Exclusive Group of Professionals. Our team consists of loyal top producing Agents that have demonstrated exceptional care for their clients and passion for the industry in which they serve. Our Mortgage Centered Financial Planning approach helps our team foster long lasting relationships, which brings a unique process to the mortgage business.
SafeBridge understands your life insurance needs and will recommend the right product for you. We don’t just look at insurance, like insurance. We look at insurance as a wealth-building tool and a way to pass on generational wealth by working with the best insurers.