{"id":658,"date":"2015-06-09T11:44:43","date_gmt":"2015-06-09T11:44:43","guid":{"rendered":"http:\/\/andrewwbradley.ca\/Blog\/?p=658"},"modified":"2015-06-09T11:44:43","modified_gmt":"2015-06-09T11:44:43","slug":"what-is-life-insurance","status":"publish","type":"post","link":"https:\/\/blog.andrewwbradley.ca\/index.php\/2015\/06\/09\/what-is-life-insurance\/","title":{"rendered":"A Simple Question – What is Life Insurance?"},"content":{"rendered":"

\"what<\/a>When meeting with Ottawa and Orleans families the first question I typically get is \u00a0– what is life insurance? Most people have a general idea of what it is however, its good to make sure you know exactly what you are getting and what it can do for you. There is a lot of information out there and it can be confusing figuring out what is the truth and what is not.
\nBasically life insurance is a safeguard that protects your family should you die and leave them with tax free cash, income replacement and cover any debts such as a mortgage. \u00a0Life insurance is something anyone who has family to take care of, people who rely on them or has debts to pay, should have.\u00a0 When you invest in life insurance, you will find that not only are your financial obligations taken care of, but \u00a0you feel better knowing your family will be taken care of \u00a0if you cannot provide them with financial support.\u00a0 As part of your financial plan, \u00a0be sure life insurance provides a solid foundation and protects everything and everyone you care about.
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What is Life Insurance?<\/h2>\n

Life insurance is a financial tool able to help your family pay for your unexpected and expected costs at the time of death. \u00a0Each policy will differ from one company to the next, but most life insurance provides a low cost way to pay for expenses after death.\u00a0 When you provide your family with life insurance, you give them financial security and peace of mind for yourself.
\nOnce you purchase a policy, you will be able to make payments on it monthly, quarterly or annually.\u00a0 If you die when you have a life insurance plan in place, your family (beneficiaries) will get the payout on the policy.\u00a0 The funds from your policy can be used however they wish such as covering funeral costs, income replacement and paying down debts including your mortgage.
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When Should You Get Life Insurance?<\/h2>\n

As you get older, you may not need as much life insurance as you do right now but there are other things to consider.\u00a0 Life insurance is a necessary financial tool to have if you have dependents, \u00a0a mortgage, second property like a cottage or to cover estate fees and probate costs. If you die and leave these financial hardships to your spouse and children without a life insurance policy, chances are good they will struggle. \u00a0Since there are many types of life insurance policies and riders (additional coverages and features that can be added), \u00a0a broker can help you can choose the right type and amount for your needs, including how long the policy lasts. \u00a0As your life changes a broker can help make adjustments to your policy as needed.
\nMany people choose permanent life insurance policies so that they will always have coverage, tax free cash savings and so that their family will have the funds when they need them at the time of your death.\u00a0 This is a personal decision you have to make, weighing the pros and cons of a term or permanent policy and deciding on which makes sense for your situation. That is why it is important to talk about these needs with a broker at the time of getting a quote.
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Getting a Life Insurance \u00a0Quote<\/h2>\n

There is no sense in paying too much \u00a0when you don’t need to.\u00a0 Therefore, be sure you look for an Ottawa life insurance broker who has access to resources from multiple life and health insurance companies in Ontario. \u00a0 The good news is that this is very easy to do.\u00a0 To get a life insurance quote you can simply talk to a broker over the phone or online here<\/a>.\u00a0 Let them know the specifics about your needs, any significant health issues your date of birth and if you are a smoker and they’ll give you a quote. \u00a0A broker can compare several companies to find the right product for you at the lowest price.
\nWith life insurance, you provide your family with affordable, protection at a difficult time. While no one wants to think about their death, do think about what would happen to your family without it. \u00a0I have never had a family not appreciate getting a check so that they don’t have to worry about their finances in their time of grief. It is one last gift you can give your family, the gift of financial security.
\nPhoto credit: GotCredit<\/a> \/ Foter<\/a> \/ CC BY<\/a><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

When meeting with Ottawa and Orleans families the first question I typically get is \u00a0– what is life insurance? Most people have a general idea of what it is however, its good to make...<\/p>\n","protected":false},"author":1,"featured_media":24168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[8],"tags":[236,280,361,366,414,535,566,569],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/658"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=658"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media\/24168"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}