What is Term Insurance?
Term insurance is a type of life insurance that protects you for a given period of time or a specified term of years. It is extremely beneficial for anyone that has a mortgage to pay on their home, runs a business, wants to protect their income, or has dependents. Term insurance is the most cost-effective way of putting coverage in place.
MILIFE INSURANCE & INVESTMENT INC. is an insurance brokerage that is contracted with all the major insurance companies. This allows MILIFE INSURANCE & INVESTMENT INC. Insurance and Investments to have access to the best products and rates in the market. There are various term insurance options in the marketplace. It is important to understand the options available and which term makes the most sense for you.
Permanent Life Insurance
What is Permanent Life Insurance?
Permanent life insurance is a type of life insurance that stays in place for your whole life. Depending on the type of permanent coverage you decide to put in place, it may grow in value over time with tax advantages.
There are several types of permanent insurance policies that protect your assets and your family when you pass away. Your beneficiary – the person or entity that receives the benefit – will get the full amount upon your death, tax-free.
Life insurance is not mandatory in Canada but is the single most important asset to own. At MILIFE INSURANCE & INVESTMENT INC., we will assist you in finding the best solution for you and your family based on your financial needs and affordability.