Protecting yourself and your family
Individual life insurance
When you die – and hopefully we’re talking years from now – having the right policy in place can help your loved ones recover financially from the loss.
There are different types of life insurance, but they generally fall under two broad categories: term and permanent.
Term life insurance is what it sounds like – life insurance for a defined period of time (rent it). Could be 20 years, could be 30, or virtually any length of time. If you die during the term, your beneficiary will receive the death benefit. If you don’t die during the term, well, that’s good! But, you don’t get any money back after expiry.
Permanent insurance – which includes “whole” life – is designed to offer coverage no matter when you die (Own it). Even if you stick around into your 90s or 100s, the policy will pay out to your beneficiary. A whole life plan also gains cash value as you pay into it. You can even borrow against it if you need extra cash.
The bottom line is this. You earn money to raise a family. If you disappear tomorrow, the death benefit can replace the income you would have earned for whatever length of time you choose. It gives your family comfort, and it gives you peace of mind.
Download your free copy of this updated brochure.
It covers the following:
- Why do I need life insurance
- How much do you need
- What kind should I buy
- How to buy life insurance
We us a concept called insurance stacking. If you have the need for permanent insurance (every one does since every one dies), a need for short term -medium term- and long term TERM insurance then we buy a Permanent policy with a 10 year (young children phase), a 20 year phase (education replacement), and a 30 year phase (covering the mortgage and debts). As time goes forward, each one falls off as the different stages of life pass us by.
At Lang Financial, we service customers across Canada. Primarily, we offer mortgages in the Winnipeg, Manitoba area.
I work with Castle Mortgage, Castle Insurance and TMG The Mortgage Group – an award-winning Canadian mortgage brokerage with a national team of over 800 qualified and accredited mortgage brokers, agents and associates providing residential and commercial mortgage services. Since 1990, TMG has helped over a quarter million Canadians get the best financing solutions and mortgage rates through Canadian mortgage lenders from coast to coast.