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Insurances – Know Your Options

Do you want to buy a policy on top of your life insurance? If yes, then you better know your options to determine which one best suits your needs. You can always consult an insurance broker to provide you with this information, or better yet read on this article to find out what are the other types of insurance available for you.

Mortgage Protection Insurance

Mortgage payments can be such a burden if you don’t have the ability to earn an income for a certain period due to sickness or accidental injuries. That’s why, some people get mortgage protection insurance apart from their existing life insurance policy. This can either be Total Permanent Disability insurance or Term Life, which is typically offered by mortgage brokers and banks and is sold to cover mortgage payments.  Get Quotes on Mortgage Protection Insurance

Key Person Insurance

If you have a business, this is the perfect option for you. Why? Because this covers your business’ key person, or you as the business owner. When you get sick and become incapable to work for a long period or if you die, it’s most likely that your business will suffer as well. You don’t want this to happen, right? So take the time to learn more about key person insurance, and know how you’ll benefit from it. Get Quotes on Key Person Insurance

 Funeral Insurance

Funeral insurance, as the name implies, is a type of insurance that provides a payout which your family or beneficiary can use to cover your funeral and burial expenses. Without this policy, it’s most likely that your family will shoulder all your final expenses, which can be really costly to them. Take note, however, that this type of policy can be really expensive, so make sure to weigh your options before you purchase. All about Funeral Insurance

Share Purchase Insurance

As its name suggests, this insurance is basically designed for those who own shares in a business. The payout that the policyholder can claim from this can be used to buy the shares of a disabled or deceased shareholder. However, you have to note that the way on which you can have one of these policies may vary and that arrangements must always have a corresponding Buy/Sell Agreement that should be drawn up by a competent attorney.

 Group Life Insurance

Unlike your individual policy, this one is often provided to a group of people like employees of an organization or members of a labor union. But if you are already covered by an individual policy, you need not have this, as the coverage you have may be enough to answer your future needs. Compare Group Life Insurance

Group Salary Continuance

The same with group life, this income protection policy is basically provided to a group of people. Generally, the premiums offered in this type of policy are lower and risk factor is not determined individually but as a group. It pays to get covered by this, so make sure that you get employed in a company that offers one. This will sure make a nice add-on to your existing life insurance coverage. Get Quotes on Group Salary Continuance


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