What is Whole Life Insurance?

Whole Life Insurance, or Permanent Insurance, is a form of life insurance that covers you for life. Upon your (insured) death your loved ones (beneficiary) receives a tax-free lump sum (death benefit) of money. Coverage continues as long as the premiums are paid. Some plans are life pay and others are 20 year pay, meaning you can pay off the premiums in twenty years instead of paying for life.

Why buy Whole Life Insurance?

Will your death leave your loved ones in a financial bind? If you answer yes to this question, then you most likely will need some form of life insurance.

The advantage of whole life insurance over term insurance is length of coverage. Whole life plans cover you for life whereas term plans cover you for a specific period of time.

Most people purchase whole life insurance to help assist family members and loved ones with covering expenses and to replace the income lost to your family.

Some reasons to get term insurance:

• Replace the income lost to your family and to maintain their standard of living
• Pay off debts and expenses – such as mortgage, loans and credit cards
• Pay for a nanny or babysitter if non-bread winner was taking care of children
• Create a fund for children’s education
• Create a family emergency fund or a fund for a family with special needs
• Cover final and estate expenses, such as funeral costs and estate taxes
• Provide needed cash to business partners
• Fund a favorite charity

Why allow your loved ones the burden to come up with these costs when you can plan ahead and get the proper protection now?

With our no medical exam simplified and deferred whole life insurance plans, obtaining can be simple and affordable. Plans start from $15/month (depending on age and amount of coverage). No Medical Insurance coverage amounts from $1,000 to $50,000.

To see the premiums and get a free life insurance quote, please click here:
http://www.nomed.ca/nomed_quote.html