Are You Protected With Life and Critical Illness Insurance?

Do you have life and critical illness insurance for peace of mind and financial security for your loved ones in the event that you were to pass away or become too ill to work due to a critical illness?

While there is nothing you are able to do to change the fact that death comes to all of us at some time, we are at least able to leave this world knowing our loved ones are not left struggling financially. Life and critical illness insurance are and you are typically able to tailor the insurance to suit your finances and your lifestyle.

You can get a free quote if you want to know about life and critical illness insurance.

Financial Preparedness: Critical Illness Insurance Osoyoos Credit Union

The types of life insurance to consider

Here are two of the most popular forms of life insurance you may wish to consider depending on your needs.

Term life insurance is one of the most common ways of protecting your life and is a simple choice for protecting your life. You choose the amount of insurance you need based on your circumstances and choose how long you wish to take out the insurance. If you were to pass away during the term of the insurance, your loved ones are paid the sum insured.

If you were to outlive your life insurance the policy stops and no payout is made. Critical illness cover can also be added to the cover. You may choose to take out life and critical illness insurance this way.

If you have a mortgage and want to ensure your loved ones had money to pay off the outstanding balance of the mortgage upon your death, then you might want to look into taking out decreasing term insurance.

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