Comprehensive Estate Planning with Permanent Life Insurance

+As the famed adage goes, nothing is certain but death and taxes. Although the former's timing is uncertain and the latter toilsome, preparedness is key to diminish burdens to those left behind. All Permanent policies (if kept in force by paying the monthly premium) will eventually pay out the face amount to your beneficiaries and are an important component of estate planning. 

Permanent Insurance is usually used for estate planning purposes (also known by such names as Term100 and Whole Life) and has premiums that stay level for your entire life and will never increase. Unlike Term insurance, there is no chance of out-living Permanent Insurance and because of this, premiums are significantly higher. Insurance companies know they will be paying out the face amount (sum insured) at some point in the future. 

Buying permanent insurance is a great way to leave some money behind for family members, charities or to pay off any tax liabilities on Real Estate etc. This is the type of insurance you keep forever and is part of your estate. Due to the increased costs, the amount of coverage bought by policyholders is usually less than Term. 

Searching online for life insurance in Oakville, Toronto or wherever is a quick way to find out what is available for your age and budget. There are many websites that will quickly search all the major insurance companies in Canada and provide you with online quotes. Finding the right permanent life insurance at the right price has never been easier.