The Difference between Term, Whole, Universal and Variable Life Insurance?

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You may have questions in your mind like which is the most suitable plan? What is the best in long-term insurance? Which offers the best investment value? Choosing the best deal is the key. Keep reading to know more about InsuranceQuotes Calgary.



Main Types of Policies


There are two main types of life insurance first one is a term and the other one is permanent. From these two types, Calgary Insurance Quotes different plans designed for different needs.
If you have a short-term need then you should choose “Term Insurance” and if you have a permanent need then the “Permanent Insurance” is the best. Short-term needs are like business obligations, caring for young children or a mortgage, and permanent needs include finical expenses, surviving spouse or paying for funeral costs.

Term Life Insurance:-

Term life insurance is always in set of periods like 10, 20 or 30 years. Calgary Insurance Quotes can help you to choose if the term insurance policy is what you need.

Permanent Life Insurance Policies:-

Permanent policies can cover you throughout life. In some cases, there is cash value as well that you can withdraw. The main drawback of permanent policies is that it has higher initial cost and is not suitable for the short term.
If we talk about whole life policies, these policies protect you till the policy holder’s life and premium remains the same, and is not related to any change in health. It also provides death benefits and cash values.

Universal Life: 

It is made up of both investment accounts and life insurance. It is flexible as compared to life insurance but the main difference is that the value of it can get changed over a period of time.

Speak to one of the professional Best Insurance BrokerCalgary for Insurance Quotes in Calgary to get better information about policies. If you have a combination of permanent insurance and term insurance that will offer you the complete coverage. Contact us for a free mortgage, Disability, life, and travel insurance quotes.

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