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Insurdinary 2017: Important Benefits of Life Insurance

Life cover is the most important benefit of any life insurance that refers to the sum amount of money given to the nominees or beneficiaries in the event of the insurer’s death. With life insurance, you have long-term savings, allowing you to save money and build wealth to meet your needs for your retirement years, and can even fulfill your goal to support a child’s marriage. Whether you are concerned with your children’s education, marriage of your children, purchasing a new house, or building wealth for a more comfortable retirement, life insurance makes it all possible with its tailor-made options. Life insurance plans have different types including term insurance plans, participating traditional insurance plans, retirement and pension plans, non-participating traditional insurance plans, unit linked insurance plans (ULIPs).

Term insurance plans are the most affordable type of life insurance which provides a life cover for a specific time frame, and in the event of the insurer’s death, the nominee receives the benefit for his financial future. Participating Traditional Insurance Plans refers to life insurance with life coverage and profits in the form of bonuses which are considered nonguaranteed benefits. Non-participating Traditional Insurance Plans provide life coverage and the opportunity to grow your savings. In a Unit Linked Insurance Plan (ULIP), your money is invested in different wealth building investments such as equity and debt funds, and a portion is allocated for your life cover. Unit Linked Insurance Plans offer potential for higher returns, and control and flexibility of money through fund switch, premium redirection, partial withdrawal, and top-up.

If you want to receive regular income after you retire, then you can invest in a retirement or pension plan. A retirement plan is a good source of income once you reach the age of retirement, and you can either choose to invest a lump sump money or pay regular premiums during the payment term. Some retirement plans also provide regular income to continue for your spouse in case of the insurer’s death. Insurdinary is one of the best life insurance companies in Canada, offering life insurance without medical exam Canada based company. Whatever type of life insurance you are looking for, Insurdinary can help you find the best life insurance for your needs. As early as now, you should secure your future and so as your family’s, get a life insurance now! It is best to invest in a life insurance as early as now no matter what your financial goals are, and regardless of your age so you can secure your future and your children’s future as well.