For the most part, when an individual is buying products or services, there is an element of trust. The trust goes into the company providing it. When it comes to life insurance, the same concept applies. But, perhaps even more so. It is because a lot of people don’t understand this type of insurance. Therefore they make their purchases based on whatever a company is telling them. There are several different types of life insurance. Awareness of what they each have to offer is essential. Then knowing that the Company is reliable and has the necessary options is another crucial factor. iA Life Insurance is one of those insurance companies that fit into this category.
What Life Insurance iA Has to Offer
Term Life Insurance
This particular life insurance is one that a lot of people favour. It is because it can be geared towards the specific needs at the time it is bought. Also, it is one of the cheaper types when it comes to premiums. This type of insurance caters to the insureds specific needs. There has to be some flexibility. iA allows for this by offering a few different term life products.
Access Life T20
This particular term insurance covers some of the key components. Those that are expected in life insurance. It offers a twenty-year term of coverage. But, once the policy ends there is an option to renew it for another twenty years. The Acess Life T20 does not need the insurance buyer to go through a medical examination. Or any blood tests. This is important to a lot of people. Some have health issues that can make it difficult for them t get life insurance.
Pick a Term
Everyone has their own specific needs when it comes to life insurance. Some people have a lot of debt. They want to protect their loved ones from having a financial burden. In the event, they should die. Having life insurance is one way to be able to do this. Yet, everyone’s debt load and financial needs are different. The Pick a Term life insurance has more flexibility to it.
Individuals have flexibility in the choice of how long they want to carry the insurance for. The options span from ten to forty years. Or there is another option. Once the first contract ends extended coverage is available on year by year basis. The insured does not have to sign up for another long-term period. For those with a big debt load, this is a good option.
It is an easy type of insurance to afford. Most term life insurances the premium costs do not change during the duration of the term of coverage.
T10 and T20
For those that have a pretty good idea of how long they want to have term life insurance for.
The T10 and T20 options offered by iA are simple and offer good coverage. It is good for those that know how long they want term life insurance for.
The terms are simple in that one just has to pick whether they were a ten-year team or twenty-year term. It is the most basic form of term life insurance that iA offers.
All these term life insurance packages offered by iA allow for renewal of the policies. They allow for these without the need for a medical examination. But this does not apply to the Access Life.
Permanent Life Insurance
Permanent life insurance is another option for those looking for life insurance. There are a few differences between permanent life insurance and term life insurance. One of these is with the renewal options.
Both options usually allow for renewal once the term is up. But with term life insurance, the premiums will often increase for each renewal. As a rule, this does not happen with permanent life insurance.
iA offers a few different permanent life insurance packages for those with different needs.
It is a straightforward permanent life insurance. One of its key components is that those that are buying it do not need a medical examination. Also, there are no blood tests. It is a good policy for those concerned about health issues. Health issues can cause a problem for them getting insurance.
L10, L20, L65,L100, T100
These are all individual insurance packages that are permanent insurance. Some of the options they have are in regards to the terms. They can span ten, fifteen or twenty years. For those that just want to buy their life insurance according to age, there is an option to do so. The insurance buyer can buy a policy that will still in effect until they are sixty-five years old. Or even beyond that going to one hundred years old.
There are those that want their insurance to also be a form of investment. For those, the choice from what iA has to offer is in their Universal Life packages.
The EquiBuild package gives those that buy it an opportunity to grow their investment. Each year it offers a bonus. These are bonuses that will increase the face amount of the policy itself. Or, it is added to the savings part of the policy. For those that like to see immediate investment growth, the EquiBuild may be for them.
Genesis and Genesis IRIS
There are some people that like tax-preferred investments. When they can have this combined with life insurance, it meets all their expectations. That is what these two Universal insurance packages offer. These are the types of policies that people like to use to pad their retirement income. There is a lot of flexibility with these particular insurance products. There are options for changing the face value of the policies. Then there is the chance to change the way the payments of premiums are. Plus, there is flexibility in the premium amounts. Added to this are the investment options.
It is wise to study each of the insurance packages. Especially with there being so many of them. Also, it is important to realize that insurance policies can change. Changes can take place as the needs of the insured changes.