The second benefit is that insureds feel at ease
A life insurance policy can also provide peace of mind by helping your family recover without having to rely on third parties in the event of death. Aside from that, the insured can expect indemnity if, at some point during his life, he becomes disabled, whether through serious illnesses or accidents. Undoubtedly, this is the last thing anyone wants to think about. However, knowing that you are protected by insurance will make you feel more relaxed.
The third point. Taking care of your spouse
Generally, couples share fixed expenses. In these situations, the other’s income can be severely affected when one suffers an unforeseen illness or accident.
Further, it may be necessary to hire someone to take care of the children in a difficult situation, which requires even more financial resources. When times like this arise, there is no greater peace of mind than knowing that your loved one will not run out of finances. Having peace of mind knowing that the person you dedicate your life to will be able to move forward financially is comforting.
The fourth point. A cost-effective solution
Considering the number of benefits that life insurance offers, it is usually an excellent cost-benefit.
You can, for instance, get a $500,000 policy for $15.75 with Policyme. With PolicyMe, Canadians can buy affordable term life insurance online in minutes, 100 percent online. Our fully underwritten term life policies are fast, simple, and affordable. As a result, traditional life insurance is freed of all unnecessary bells and whistles.
PolicyMe offers rates that are generally 10%-20% lower than those offered by other Canadian insurers. As a result of their streamlined process, they were able to reduce the cost of life insurance.
We offer policies through Canadian Premier Life Insurance Company, which is one of Canada’s most reputable insurance companies.
As a conclusion
Health information can reduce the premiums you pay for life insurance. If you apply for life insurance, you may not be asked any health questions. Because of this, the monthly payment is often higher than with other types of life insurance. If you are in good health, please consider applying for a product that asks about your health.