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After working with Online Life Insurance quotes for a while its pretty clear many folks click on those paid ads at the top and bottom Google Search. Which leads you to a landing page that asks you for your email and phone number. You may receive a call within minutes to schedule an appointment. 

You should be cautious as many brokers and insurance advertisers are linked to their favourite 6 or 7 Life Insurance Companies where they receive volume bonuses.

You may be looking for seniors life insurance or guaranteed issue No Medical Policies. To be honest if you are over 60 with medical problems its pretty hard to purchase low cost insurance for under $100 per month to be realistic about it.

Another favourite approach is to offer  $500,000 of Term 20 for $7 per month which for the most part not available for many of you with medical issues.

Many clients ask about Mortgage Insurance and Mortgage Disability Insurance purchased from their bank branch.  We always advise against buying this type of insurance. Its much better to complete a financial needs analysis to determine how much coverage you need. Then go shopping on the few open free and complimentary life insurance quotes before you call anyone. Find a good independent Life Insurance Broker that sells all the life insurance companies in Canada then ask them to prepare a detailed life insurance plan to covers you needs.

Most clients ask about cheap term life insurance of which there are many providers out there. Its usually in price bands so in many cases its lower cost to buy $500,000 than $450,000 of term 20. 

Lately I 'v met with lots clients coming to the end of their Guaranteed Renewable and Convertible term life policies with renewal notices that are 200% to 300% higher premiums. If your healthy its cheaper to apply for a new policy. However using lots of lower cost term life means that if you want to continue life insurance later on in life you will get a major price shock when your looking fore insurance coverage at age 60. Whole life gets a bad rap and the usual moniker is buy term and save and invest the rest. Then good luck trying to be insured when your older.

When your over 60 (and in good health) and want life insurance in place for the rest of your life Whole Life for $25,000 or $35,000 is the best way to go. 

If you do decide that some Whole Life coverage is right for you then select a reputable Life Insurance company. Just recent we met with prospective clients that were very unhappy with SUN LIFE as they just increased their Whole Life Insurance premiums even though they had a level premium clause in their contract. Sounds like the insurers ran into trouble with either their investments or mortality calculations and underfunded these policies. Its important to select good insurance companies that have a history of good financial results and paying out claims

Be careful with those colourful online ads promising lots of cheap insurance - when you click it might not be for the company you think you are trying to contact.

Try this link below its free and we wont ask for your information. If you have a question call us 289 338 0543

www.agilefinancialservices.com/online_life_insurance_quotes/compare_life_insurance_quotes_online.aspx

 

 

 

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