Most of the times we look into Life Insurance when some one close in the family dies; or change in health occurs. Is that the right time to look into Life Insurance?

We suggest at following events in Life as right time to buy Life Insurance and then add on to it, however each person is unique with unique insurance needs; hence sharing your personal circumstances with our licensed Insurance Broker is needed to plan your personal financial security plan. Points below are just to give you general idea:

• When you are ready to start your career or get your first job and start making money that’s a right time to start buying life insurance, as you are young cost of insurance is very low, starting of a plan like $50,000 or $100,000 selecting paid up option where you don’t have to pay for life time but only for limited time like 10/ 15 / 20 years and then your policy is paid for.
  
  
• Second time when you make a decision to get married in life and start family is also a good time to buy additional coverage in form of Term Insurance where God forbid in the event of untimely death your spouse would be able to replace your income and continue with the same life style you are living, before he or she could adjust to the non replaceable loss.
  
  
• Third time, when you are ready to move into your own home and have taken the responsibility of mortgage from a bank as lender so as in the event of untimely death the mortgage is paid for, again a term plan for this risk coverage is good option with many riders available to help you and your family, please discuss with our licensed Insurance Broker.
  
  
• Fourth time, When you plan kids and family is growing, buying again a term plan for 25 years is advisable as  during this time kids would grow, complete there education and establish them self in there own careers and then probably need of this coverage is not any more.
  
  
• Fifth Time, When you start new own business, additional coverage just to cover the additional loans or debt you have taken to start this new venture.
  
  
• During your life time- estate(Estate Planning) that you have built may be subjected to many taxes like Probate, Capital gain tax and other costs involved including final or funeral expenses at the time of death , so again planning ahead is advised as surely you would like to pass on the entire estate to your loved ones and wont like them to sell a portion of it to pay off these taxes and fees at that time, the first plan that you bought would prove to be helpful as if it won’t coved the whole taxes or cost, it would certainly offset it with the amount of coverage you originally started at first point.