What is life insurance?

Life insurance is a policy, between you and an insurance company to provide money to a person you designate, in the event that you die during the time the contract is in force.

What is level term life insurance?

Level term life insurance pays out a fixed lump sum if a person dies within the specified period of the policy.

What is decreasing term life insurance?

Decreasing term life insurance provides a death benefit that decreases in a specified manner described in your policy coverage.

What is term life insurance?

Term life insurance is insurance that lasts for a specific time. The policy pays a death benefit in the event the insured dies during the specified period.

Is life insurance important?

It is important to have enough money to provide for dependents such as young children, non-working spouses or elderly parents, should you die and be no longer able to provide for them.

What is critical illness Insurance?

Critical illness insurance is a form of health insurance that provides a lump-sum payment should you become seriously ill.

What is covered by critical illness insurance?

Although they differ from company to company, typical illnesses and diseases covered by critical illness insurance may include: cancer, heart attack, stroke, blindness, Alzheimer's, multiple sclerosis, organ transplants, kidney failure, paralysis.

How much cover do I need?

To estimate how much money may be needed, you should make a list and estimate the expenses that need to be covered. This could include the cost of paying funeral expenses and the amounts that your spouse and young children need for mortgage payments, household expenses, education, etc.

What if I occasionally smoke?

You qualify for non-smoker rates with most insurers only if you have not used any form of tobacco products within the last 12 months. If you occasionally smoke or if you have quit smoking in the last 12 months, you are considered a smoker.

What is a Claim?

A claim is the payment made by the insurer to the insured or claimant on the occurrence of the event specified in the contract, in return for the premiums paid for the insured.

What is a beneficiary?

This term refers to the person to whom the insurance money will be paid upon the event of your death. The beneficiary must be clearly stated in the policy.