1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Life insurance

Discussion in 'Off The Beaten Track' started by nlloyd, Feb 15, 2013.

  1. nlloyd

    nlloyd Well-Known Member

    I am looking at purchasing life insurance independently from work-related plans and wondered whether people had suggestions. I am based in Canada and am looking for a decent, honest life insurance broker, but general advice on life insurance would also be useful.

    I am on a tight budget, so am looking at term policies rather than the more expensive permanent, whole life, universal etc. ones. I think that if I can pull off a 20-year or 30-year term, which would take me into retirement, that would be good. (Once a policy expires and you find yourself past a certain age, the rates go up exponentially).

    Guaranteed renewal (at a particular rate without another medical exam) is probably important in the event that life circumstances render renewal necessary. One can also convert to a whole life, universal etc. policy with many term policies (convertibles) which may be a good idea, although the latter option is quite expensive.

    Anything else to consider? Any suggestions regarding how to find a reliable broker?