How often have you thought to yourself, “Where does the time go?” Planning for tomorrow is always on the top of our “to-do list,” but somehow life gets in the way and we don’t get around to things like life insurance. We understand that thinking about life insurance isn’t fun. But it is necessary.
Some people find life insurance confusing. What type of policy to buy, when to buy it and how much to buy are all important questions you should consider when it comes to protecting your family’s future.
While this website will provide you with some basic information about life insurance it is strongly recommended that you contact a licensed life insurance professional who can help you find a solution that’s right for you.
Term insurance, also known as temporary insurance, provides coverage for a specific length of time, usually 10 years, 20 years or 30 years. It is the most cost- effective coverage if coverage is only required for that particular term.
A layered insurance solution is different from other types of insurance because it looks at your life as the evolving journey it is. Your financial advisor can put together a layered insurance solution so you get the protection you need for today and the security you want for tomorrow.
Layered insurance is exactly what it sounds like – it’s several different types, or durations, of insurance protection, such as term insurance and permanent insurance, layered on top of each other to create a customized solution that evolves as your need for protection and savings evolve.
Everyone is different, and everyone has different needs and priorities when it comes to purchasing insurance and saving for the future. Some people choose to focus on paying down their debt, while others prefer to split their focus between debt repayment and savings.
Your advisor is the right person to help you decide which layered insurance solution is right for you.
For some people, saving money is always a priority, even with other expenses like a mortgage or post-secondary education for the kids. If this sounds like you, then a layered approach to insurance may be exactly what you need. As your life story unfolds, your need for insurance coverage may decrease and, along with it, your monthly cost of insurance may decrease, too. Your financial advisor can show you how you can use a layered approach to increase your savings if your need for insurance protection, and the cost of that protection, decreases.
Use this interactive tool to learn how much protection you need at every stage of life.
Combine term and/or universal life insurance from Transamerica for flexibility, competitive rates and great value.
Use life insurance products as a solution to many of life’s financial concerns.
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