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Life insurance  is the fastest way to create a legacy for your family, enabling a better life for successive generations.  It can help to give financial security to your family and provide tax free benefits to your beneficiaries. It is recommended that 8-10 times your income should provide adequate protection for your family.

Individuals, families and businesses have different needs, most of which can be met through life insurance. Trying to select the perfect plan to meet those needs can be overwhelming, but a licensed and qualified  life insurance professional can help you navigate the complex world of insurance and make recommendations that best suit those needs.

Among the many options that may be recommended are three categories of life insurance: Term Insurance, Whole Life Insurance and Universal Life.



It is commonly thought that life insurance covers only for death and pays beneficiaries on the death of the insured.  Term Insurance covers the insured for a specific period, most commonly 10, 15, 20, 25 or 30 years. Formerly, if the insured outlived the period the contract would expire and, although he was covered for the term of the contract, it would then expire.

Term insurance is price competitive and is recommended for individuals who need higher coverage for less, for example young families and persons wanting mortgage protection. Although it costs less than permanent insurance, the premiums increase over time.

Today, some term insurance policies offer a cash back of premiums paid as well as living benefits. Some offer an option for conversion to permanent insurance.



Whole Life insurance is permanent insurance which remains in force for the lifetime of the policy if the premiums remain paid. The premiums are level for the life of the policy.


In addition to a death benefit paid to beneficiaries on the death of the insured, the policy also accumulates cash values and dividends.



Universal Life insurance could be described as a combination of Term and Whole Life Insurance. It is permanent insurance with flexible premiums, face amount, an unbundled pricing structure and a savings element. This flexibility gives the policyholder an opportunity to alter these elements as his circumstances change.

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