5 Reasons to Sign up for a Life Insurance Policy

Have you always thought about signing up for a life insurance policy, but haven’t quite gotten around to it yet? We get it! Countless people put life insurance off because see themselves as young and healthy, they don’t want to pay the premiums, and they tell themselves they will consider it later.  

Life insurance can help you to look after your family, your assets, the things you care most about, and even your business. We found a really great article that points out he benefits of having a life insurance policy and we compiled our favourites into an easy to read list for you! Check them out:

1.      Provide income for your family when you are no longer able – If you experience a tragic accident and you aren’t able to provide for your family, a life insurance policy can replace your income to ensure your loved ones are taken care of.

2.      Eliminates debt at an important time -If you have a large amount of debt, your life insurance policy will pay off what you owe after you have passed, just another way to ensure your loved ones are well taken care of.

3.      Leaves a legacy of value – You don’t always have to purchase a life insurance policy for yourself; some people purchase policies on the lives of their children, which can be transferred directly to the child when he/she turns 18. This provides a tax-free legacy for future generations.

4.      Ensures the continuity of your business – Your policy can help to ensure your business lives on even after you have passed.

5.      Help to make meaningful donations – If you have the desire to help your favourite charity, you can donate the proceeds of your life insurance policy after your passing.

If you’d like to look into a life insurance policy or have questions about signing up, give us a call! We can help you to understand the different types of coverages available to you and we can get you signed up in a timely manner!

 

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Group Life Insurance for your Edmonton business

Group Life Insurance

Employee Life Insurance – Providing Financial Support for the Unexpected

Included with every Chambers Plan, group life insurance provides financial support to families of employees in the event of their death. Benefits are adjustable to meet your company's unique business needs and lets employees pay their premiums through payroll deductions. Our life insurance benefits include:

  • Coverage up to $300,000
  • Living benefit provisions included in every policy
  • Guaranteed coverage for companies or organizations with three or more employees
     

Dependent Life Insurance – 
Covers Spouses and Dependent Children from All Causes of Death

  • Spousal benefit amounts from $5,000 - $15,000
  • Child benefit amount – 50% of the spousal amount
     

Optional Life Insurance

Employees are able to top up their group coverage with up to $500,000 of Optional Life insurance, letting them build a plan to meet their needs at a cost they can afford.
 

Ready to Learn More?

To find out how life insurance benefits can be tailored for your firm's benefits plan, request a quote. Your Chambers Plan advisor will contact you to discuss your needs and answer any questions.
 

A Life Insurance Policy Provides Your Employees with Peace of Mind

An unexpected loss of life can present a serious financial burden for family at an already difficult and emotional time. Holding a life insurance policy is one of the best ways to ensure that your loved ones will be taken care of financially.

The payout on a life insurance policy can help loved ones cover:

  • Mortgage payments
  • Unpaid bills
  • Medical expenses
  • Childcare
  • Funerary costs

And many other expenses that would otherwise be a financial burden under trying circumstances.

Provide your employees the opportunity to purchase optional life insurance through the Chambers Plan at group rates to meet their individual needs.