A Life Insurance Agency in Edmonton will provide you an agreement where your beneficiaries will receive a pre-determined lump sum in case of your demise in exchange for monthly payments during your lifetime. When you hear, one bought a life insurance policy worth $200,000, it means that the respective beneficiaries will be receiving $200,000 upon his/her demise. You may be offered Term Life Insurance, Whole Life Insurance or Universal Life Insurance depending on your needs.
In Edmonton Life Insurance is not a fixed give and take deal, there are many factors which impact your premium and the lump sum. It is important that your Life Insurance Broker knows all that is necessary about you. So in case, you find your broker too interrogative, just be glad that you are at a Good Life Insurance Agency in Edmonton. A simple health exam is usually needed while qualifying for a Life Insurance in Edmonton. If you have a specific issue that might increase your premium, then it is necessary that the broker should know it on a before-hand to help him choose a policy suitable for you. Even a smoker and a non-smoker can have a considerate amount of difference in their premium. To help a Life Insurance Agency in Edmonton be its best, make sure you tell them about your every puff.
This is one thing that only a good Life Insurance Agency can do in Edmonton and also one of the most important factor in a Life Insurance Policy. Nobody can come into an agency and say I need a coverage of $200,000. It is 99% a wrong estimate. To know exactly how much your dependents would need to fulfill all necessary expenses for a particular period(usually a year or two) after your demise. Multiplying your regular monthly expenses won’t be enough. So if you find your agent noting down amounts regarding income replacement, funeral expenses, debt repayment, child education, estate planning and tax planning, then relax and be content of being in a good Life Insurance Agency in Edmonton