Life Insurance companies are like the BIG 3 automakers. Too many varieties doing the same thing !

There are only two  types of insurance products Term  and  Whole life

TERM INSURANCE:

• It is a very simple product. It allows an individual or corporation requiring coverage for a liability,
  to purchase the required amount of  insurance for a low premium
• the insurance amount will remain the same but the premium will change at specified intervals
  An interval could  be 5 years, 10 years, 15 years 20 years or 30 years
• the rates at your renewal are guaranteed and written into your contract.
  You should be aware the rate at the end of your chosen  premium payment period will be 5 to 6
  times what you are paying now. So be cautious and buy from an insurance company that has
  good renewal premiums
• many insurance companies  give you very good rate at the time you buy, but at renewal they
  are not competitive. Yes you could go to another company, if you are healthy !
  But what if you are not healthy what do you do ?

Whole Life:

• As the name implies you have coverage for the rest of your life
• the premium remains level and for those wanting to save money the option is available to you
• this product allows an individual to prepay premiums now, stop payment at some future date and still have coverage
• if an individual has maximized their annual RSP limits, it provides a tax shelter for savings and life
  insurance at the same time
• this is a complex product, it has taken us a lot of research to find the best product in the market place.
  If you would like assistance please contact me.

Why Buy Life Insurance How to Buy Get A Quote Contact Us

Bruce A Hollett & Associates
401-1630 Pandosy Street
Kelowna  BC V1Y 1P7
voice 250-861-1006 or 1-866-861-1006  fax 250-861-6177, e-mail  questions@telus.