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The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.

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# Tuesday, October 05, 2010
Tuesday, October 05, 2010 3:13:55 AM (GMT Daylight Time, UTC+01:00) ( Whole Life )
Life insurance a simple concept and there are really only two types, whole life and term life.  This article will focus on whole life.

The basic concept is you buy life insurance with your health not your money. If your health changes it is too late to buy insurance even if your have the money to do so.

With whole life a person can lock in a price for there whole life. Based on your age and health you will pay a premium and that cost will not change. Your premiums stay the same and the policy will pay a tax free death benefit to your beneficiary upon your repose.

Whole life is a great investment when you are young and healthy. For example a healthy non smoking 30 year old male can get $500 000 for as little as $150 per month. When you reach age 80 you will be delighted to pay the $150 premium and have a great legacy to leave your loved ones. As you get older and earn more money it will seam like the greatest bargain in the world.

If you wait to buy your whole life insurance it can become cost prohibitive. At age 80 purchasing life insurance is hard to get and it is expensive. You would need to pay $4500 per month to get $500 000 and that is if your still in perfect health.

Canadians often put off their life insurance purchase because when they get around to getting a quote it seams so inexpensive that they feel they can wait. Other reasons people use for not purchasing is that there is a stigma associated with a having to deal with a pushy agent who wants to visit them and then meet all their friends and family as. Also, they are not sure if the agent is trustworthy. They may feel uncomfortable having to say no.

To find out more about whole life insurance and how it fits into your future please call us and we will be delighted to assist. You can also get online, instant life insurance quotes any time you choose.

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