Life insurance is what this website is all about. It’s about what can happen to a person, rather than about a persons stuff. People tend to quickly insure their “stuff” in case anything happens to it. They usually use a Property and Casualty Insurance Broker. Stuff like their cars, boats, homes, business assets, cottages etc, you know “stuff”.
The Benefit Guys help people, that make it all possible, to have and/or keep all that stuff. Originally, “life insurance” meant exactly that, a life was insured and when that person died, a death benefit was paid. Well, it still does that, but today there are many choices.
Life insurance implies you are covered for your lifetime, and you are in the basic life policy. Then the variations come in 10 pay life or even 20 pay life, which means you pay for 10 or 20 years and it’s all paid up for life. Think of it this way, your P&C Insurance Broker offers to give you car insurance for as long as you drive, and you can pay for that over the next 10 years. Might be a good deal to have something paid up. Especially with a product that you know you are going to use in the future.
You hear the words “Term Insurance”, and yes that is a form of life insurance, but for a specific term or period of time. Think of your car insurance, you pay for it every year and the cost usually goes up. Think of your car insurance as a one year term. Term insurance is available today and it is very inexpensive. You can even fix those costs in 10 or 20 year increments. If you click on Term Insurance, The Benefit Guys have a lot more information on this and how it works.
Mortgage insurance is just another form of life insurance. You can usually buy the coverage from the financial institution where you obtained your mortgage, but there are pros and cons to this. Click on the comparison chart of Bank Insurance vs Personal Insurance for a better understanding between the two. The Benefit Guys experience tells them that most people today have not been reducing their mortgages, people, have in fact been refinancing and putting on additions or moving up, and increasing their debt. The type of coverage you need to make sure your mortgage is paid upon a premature death is usually inexpensive term insurance. You can cover these types of risks for pennies on the dollars.
Life Insurance products would not be complete if consideration were not given to the need for income in the event of an unexpected disability. A person can have an accident or in fact develop an illness that could end a career. The person may in fact be able and well, but be unable to work. Where will the money come from? If you click on disability insurance, you will see a more detailed explanation from The Benefit Guys.
The Benefit Guys want you to just understand in simple terms that when we talk about life insurance or personal benefits, it will always revolve around a person. Insurance is just another term for money, that is paid out under specific terms.
If you cannot find the answers to your questions after wandering around our website, by all means complete the Client Data page and submit you specific questions. The Benefit guys will get back to you by your chosen method of communication.