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Life insurance

Working out your life insurance needs is simple since you usually have a good idea of your own short-term financial obligations. The short term period should include the following financial obligations:

  • Maintain the family living standard as long as there are dependent children;
  • Pay back debts (e.g.: country house, college, mortgage, etc.)

Working out the long-term obligation can be trickier due to the many unknown factors that influence outcomes.

  • Is there an amount to be planned for the mourning period?
  • How much tax will my estate pay?
  • Will my savings be readily available to pay off my last expenses?
  • What strategy should I adopt to leave a worry-free inheritance?
  • How much will the legal guardian of my children need to attend to their daily needs?

Even though insurers offer a vast array of life insurance products, most of them can be grouped in two large categories: PERMANENT life insurance and TERM life insurance.

Term Life insurance
(10 years and 20 years)

  • These protections have been developed for people needing life insurance for a few years;
  • Premiums will increase every 10 or 20 years. The policy can remain in force until the age of 85. However, premiums rise sharply every 10 or 20 years. These policies can offer a long term coverage with a very low short-term premium.

(100 years)

  • This policy has been developed for people that needs a long term coverage with a fixed premium;
  • The premium is required for the lifetime and usually don’t have a cash value.


  • This type of policy has been designed for people who want control, flexibility, a fixed premium, and a cash value. Premiums will vary according to the type of contract selected;
  • Here are some features of these types of policies: Cash value, annual increase of the insurance value, premium vacation, tax-free capitalisation, lump sum withdrawal or in the form of an annuity;
  • These policies have many advantages. Their main benefit is that they enable you to create and customize your own insurance coverage according to your situation and objectives.

(Universal Life)

  • Universal Life policies are a type of permanent life insurance where you are protected for lifetime;
  • Universal Life insurance is both flexible and complex. You can customize your life policy to your own lifestyle, your budget, and your investment goals. You can modify the features of your policy according to your current needs. You can choose the amount of your premium, the terms of their payment, and their duration. You select the options that best reflect your needs;
  • Every level of coverage includes a minimum premium. You can decide to pay the minimum or to make additional deposits that will grow as an investment inside your policy to become the cash value. These savings then can be used to pay for future premiums after a given number of years.

Our Life Insurance Needs Calculator can help you find out the amount you or your family may need in case of death.

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