Financial Services: Permanent Life Insurance Quotes in Canada with LMBF
Life insurance can be broken down into two major options: permanent life insurance and term life insurance. The former option differs in that rather than protecting the insured’s beneficiaries for the duration of a specified term, it offers lifelong coverage that only expires if the policyholder chooses to cancel the policy or due to non-payment. Permanent life insurance in Canada also may offer the option of a savings component, which can grow at a guaranteed rate through the insured’s lifetime. If you’re looking for quotes, LMBF has your back. We can get you free permanent life insurance quotes in Canada quickly - today.
Advantages of Permanent Life Insurance
Many permanent life insurance policies contain the option to include a savings component, which can grow at a guaranteed rate. Some forms of permanent life insurance allow you to withdraw from the savings component during the insured’s lifetime.
Depending on your life circumstances, you may be at a stage where you can afford higher premiums but want lifelong coverage. You might have a special needs dependent who will require care in the event of your death or you want your beneficiaries’ needs covered for estate-planning purposes.
- You have beneficiaries who require lifelong care
- You want tax-free treatment
- You want the added opportunity for savings
- You want lifelong coverage
- Savings benefit
- Favourable tax-free treatment
- Estate-planning benefits
- Funeral expenses coverage
- Tax-free death benefits
What is permanent life insurance?
Permanent life insurance is the alternative to term life insurance which allows policyholders to have lifelong coverage and additional benefits. Although permanent life insurance is more expensive, most term policies have the option to convert to permanent at the end of their pre-determined policy date. Usually, at this point in life, policyholders have more financial resources built up and can afford the higher premiums.
Our Permanent Life Insurance Partners
Permanent life insurance can be a complicated purchase for some, and the choice between term and permanent can be a difficult one. What can you afford? How much coverage do you need? When the questions start to pile up, LMBF is there with answers. Thanks to our partnerships with top permanent life insurance carriers, LMBF can help you get the coverage plan you need for affordable rates so you can live life comfortably knowing that there’s security for your loved ones should anything ever happen.