Permanent Life Insurance
The cost of permanent insurance is higher than term in the beginning, however over time permanent insurance is a far more cost effective proposition. We break permanent insurance down into two categories.
The first is referred to as whole life insurance and this is where the insurance company itself invests the proceeds of the tax sheltered investment account on the policyholders behalf. The growth on those tax sheltered funds are paid out to the policyholder in the form of a dividend or performance credit.
As opposed to whole life insurance, Universal Life Insurance is another form of permanent life insurance but is differentiated from Whole Life Insurance in the fact that the proceeds of the tax sheltered investment account are invested by the policyholder and their advisor. Universal life insurance gives the policyholder much more flexibility with regards to premium payments as well as investment options. There are compelling reasons to use an independent insurance broker when deciding which insurance provider and product is the right fit for you.
Independent Insurance brokers carry contracts with all the major Insurance companies, and as such can search the marketplace on your behalf to find the most cost effective coverage to satisfy your specific needs.
Insurance products and services are offered through JSB Financial Services Inc.
Phone: (905) 689-2425
Toll Free: (1877) 689-2425
Fax: (905) 689-2428