How to Buy Term  Insurance:  

• determine the required amount of insurance
• tell us your smoking status (smoking marijuana will class you as a smoker
  even if you do not smoke cigarettes)
• use a broker like us to survey the market for you and recommend the company
  offering the best product.
• I do not always recommend the lowest price because the renewals are not very
  competitive.

For example:
Male age 35 non smoker, good health requires $500,000 of 10 Year renewable and
convertible term, he wants to pay monthly.

What would his total premium if he kept the plan for 30 years ? 

Best              1st to 10th Years   11th to 20th Year     21st  to 30th Year      Total Premium
Company:  A     $20.70                     $117.90                   $224.90                   $43,620
                  B     $21.60                     $  67.50                   $200.25                   $34,722 
                  C     $22.95                     $126.90                   $257.40                   $48,870

Look at the renewal in the 11th year and the 21st , and  the Total Premium for 30 years.
Bing aware of the total cost of your Term Insurance you realize the lowest premium
is not the cheapest.

If the same person bought a Term policy with a level premium for 30 Years

Best                   1st to 30th  Year        Total Premium
Company:  A         $61.65                         $22,194                    
                  B         $54.45                         $19,602 
                  C         $60.75                         $21,870

You will notice you only pay more for the 1st 10 years, but your overall savings 
is substantial if you buy the 30 Year Term. The savings is even more if you consider 
you are paying premiums with after tax dollars!
            
All the Term Insurance we sell allows you to convert to a Whole Life Plan without medical evidence.    

How to Buy Whole Life Insurance:

All  the insurance companies offer an individual almost identical investment options,
the same plan options.
What an individual has to be aware of are the three factors that make up your premium
          1) Mortality costs or the pure cost of  insurance. The rate should be written into the contract.
          2) Expenses are a very important part of any contract are they guaranteed, can they be adjusted
          3) Interest or investment return. Be aware of your investment options, any expenses, and
              penalties  associated  with the investment  
 
These policies are more complicated and require discussion between you and I.

Why Buy Life Insurance Types of Insurance 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