​   Cary Fox
       
Independent Insurance Broker

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How does it work?

With term life insurance, you decide how much coverage you need and for how long:
either 10, 20 or 30 years. Your payments will never increase for the entire length of your term.  At the end of the term, you can renew your coverage at a higher premium or convert to permanent life insurance without having to answer additional questions about your health.
Be aware that term life insurance doesn’t provide lifetime coverage and its cost will increase with each renewal, so it is important to decide on the correct term length.
​This is the job ofan experienced broker.

What is term life insurance?

Term life insurance provides affordable protection for a set period of time when insurance needs are high but available funds are limited. The price you pay will never increase over the duration of your term.
If you die while your policy is in effect, your beneficiaries will receive a tax-free cash benefit.

It is ideal for people with young families, young adults, and business owners who need immediate coverage, but have limited funds.  It is also for people who needs straightforward protection for the short term to ensure debts such as a loan or mortgage are paid off, children’s education needs are met or their income is replaced if they were no longer there to support their family.


The two main types of life insurance to consider are: 
Term or Permanent Life Insurance

How can term life insurance benefit your business?
Term life insurance can provide affordable insurance to help protect your company, your family and
​your key employees in the event of an unexpected death.  The cash benefit may be used to pay off
​debts, keep daily operations running and reassure suppliers and creditors that your business is able to continue, while a family member or key employee take over the operation.

LIFE INSURANCE

How will it benefit me?

Effective coverage for less:

It’s less expensive than permanent life insurance, so you can afford to purchase life insurance. Premium payments are locked in and won’t change during the initial 10, 20 or 30 year term.

Protect your family:
Avoid leaving your family with large financial obligations. If you die, your family will receive a tax-free cash payment.   Even if you have mortgage insurance, there are many other expenses that need to be covered for a growing family.

Easily upgrade to lifelong protection:
Permanent lifelong insurance may not be in your budget today. Term insurance is a great short-term alternative that allows you to have the protection you need now with the ability to transition to permanent lifelong insurance when the time is right for you, without having to answer additional questions about your health.

For more information, please contact me, Cary Fox.  416-380-2221