Term Insurance guidance

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pritesh_patel
Member since: Mar 09

Posts: 26
Location:
Post ID: #PID

Posted on: 11-10-09 13:27:11

Hi,

I am looking for term insurance preferably Term 20.

Can forum members share their experience about which are the better companies and which companies are best avoided?

Thanks

daisyfromottawa
Member since: Sep 05

Posts: 76
Location: ottawa
Post ID: #PID

Posted on: 12-10-09 07:51:26

I can say Industrial alliance has better rates as per my experience.

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daisyfromottawa

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 13-10-09 13:31:55

RBC Insurance may also be looked into for quotes besides Industrial Alliance .

For a mid 30's person , is it better to take a T20 ... which will last till mid 50s or a T30 which will last till mid 60s , although the premium differs by quite a bit ..... ? I also have a choice of waiting till 40 yrs of age and then taking a T20 .......

Which one is advisible ...?

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Fido.

rsbagwell
Member since: Jul 08

Posts: 211
Location: Brampton
Post ID: #PID

Posted on: 14-10-09 20:21:13

Quote:
Originally posted by Fido

RBC Insurance may also be looked into for quotes besides Industrial Alliance .

For a mid 30's person , is it better to take a T20 ... which will last till mid 50s or a T30 which will last till mid 60s , although the premium differs by quite a bit ..... ? I also have a choice of waiting till 40 yrs of age and then taking a T20 .......

Which one is advisible ...?

Fido,

I think this was discussed before as well
http://www.canadiandesi.com/read.php?TID=24609

Now the question is when is right time to get insured?
Answer is straightforward 'Today'

As of today a 35 Year old male in good health and non smoker can get T 20 for about $ 25/month
Whereas a 40 Year old male in good health and non smoker can get same insurance for about $ 35/month.
Most importantly, god forbids, if you wait till you are 40 and if there are changes in your health condition, you may become uninsurable or pay very high premiums due to rated policy.
I hope this answers your question.

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 15-10-09 11:19:35

It sure does . Thanks for pointing out the earlier link as well ....

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Fido.

GreatGuy
Member since: Oct 06

Posts: 38
Location:
Post ID: #PID

Posted on: 15-10-09 15:44:32

I am also looking for insurance brokers etc or if anyone has used anybody good.

PM me.

GreatGuy

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GreatGuy

"When one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one that has opened for us"

pritesh_patel
Member since: Mar 09

Posts: 26
Location:
Post ID: #PID

Posted on: 21-10-09 21:09:36

Hi,

I did ask around for quotes. One suggestion that a insurance salesman suggested was to buy from RBC a life insurance which is permanent but gets paid after 20years.

So initially, you pay higher premiums. Instead of T100 which goes on and on.
He suggested that it would be cheaper?

Is this a good idea?

Pritesh

Contributors: VJ(4) Fido(3) rsbagwell(3) pritesh_patel(2) pratickm(2) LuxBiz3000(1) daisyfromottawa(1) Newdes(1) GreatGuy(1)

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