Plan now to protect your Family’s financial future.
Insuring your automobile is the law, insuring your home is smart, ensuring your family and loved ones are financially secure in the event of the unexpected is an act of love. At Verge Insurance Group, we understand the unique needs of each family and help find you the coverage suited to your needs.
Myth:
- Mortgage insurance is cheaper than other types of life insurance.
- Mortgage insurance is easy to get, and available even if you make changes to the mortgage.
Mortgage insurance, which is owned by you, is a smart and cost-effective way to protect your asset. It provides level coverage throughout the term of the mortgage. The dollar value of the policy never decreases during the term, allow you to always receive what you are paying for.
Critical illness insurance provides you with a lump sum and tax-free payment to help offset the costs associated with missing work and medical treatment. Best of all, you can choose how you wish to use your critical illness funds, including the following:
- Purchase of medical equipment
- Replace loss of income
- In-home nursing care
- Alterations to the home
- Childcare
To name a few.
Loss of income may happen due to illness or injury, and in most recent history, the COVID-19 Pandemic; which put many businesses on hold or completely shut them down – resulting in loss of income for families and individuals.
Disability insurance provides flexible coverage options – long term disability can provide coverage up to age 65. They can be used to offset Group Benefit coverage if you have it, and they can be tailored to your unique circumstances.
Some advantages of term insurance include the flexibility to tailor your short-term needs, cost efficacy, and is easy to understand. Term insurance can also be converted to long term (permanent) insurance in the future.
Myth:
- All permanent insurance requires medicals.
- Permanent insurance is too expensive.
Permanent insurance provides coverage for the lifetime of the insured. Permanent coverage is known as Universal Life Insurance, Whole Life Insurance, Term to 100 and Guaranteed products for high-risk conditions.
These types of policies have many advantages such as level premiums for the life, cash value within the policy when elected through dividends and investment values, use as collateral, or take policy premium payment vacation if needed.
Permanent insurance plays an important role in your financial portfolio and has the potential for tax advantages.
