Dear valued customers, as you must all be aware of COVID-19 and the strict protocols which have been implemented nationally, it is important that we continue to provide facilities to look after our current and prospective customers needs. Effective March 18th, 2020, My Insurance Broker closed its corporate offices and has since had all members of its staff and broker partners working from home. Although we maintain a few members of our team to continue to maintain administration functions, our doors continue to be temporarily closed to the public. We can however maintain all your queries through one of our secure alternative channels. Existing Clients: Please call us on our toll-free line or contact your broker directly. Our blog is constantly being updated and will have more information on ways to manage your policy, changes, and requests from the comfort of your home. Check back for this information and other useful tips while managing COVID-19 soon. New/Prospective Clients: Shopping has never been easier through our Online Quoter. Please complete your details online and one of our insurance specialists will contact you to discuss your coverage and premium. All of our agents are equipped to bind coverage over the phone so we’ve got you covered. No paper, no complicated emails or forms. One calls and have your policy in place over the phone! x

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May 18, 2017  •   2 minute read

Whole Life Insurance Solutions

Lifetime Protection For Your Family

Whole life insurance is also known as “permanent” life insurance and provides lifetime protection for both you and your household. It can be used as a continued source of income for your loved ones in the event of premature death and to pay off debts and burial expenses. It can also be used as a source of revenue during the retirement years. Whole life insurance offers flexibility in terms of how premiums are paid, how the protection is being used and how benefits are received.

The flexible nature of whole life insurance allows you to tailor your policy according to your payments and coverage options. You can also cancel your policy and receive a cash value for the premiums made. The accumulated cash value can also be converted into income for immediate usage or for retirement purposes. Holders of a participating policy will be awarded dividends and share in the success of the company. Dividends can be used as a form of investment and placed in a special “segregated fund” consisting primarily of stocks.

Whole life insurance provides lifetime protection for your family.

Instead of cashing in your life insurance policy and sacrificing your protection, you can obtain a loan from your insurance company for any amount up to the “cash surrender value” (equivalent received upon discontinuation of policy). Interest rates are affordable and your policy will remain active.

If you are the main breadwinner in your family or solely responsible for your family’s financial wellbeing, then you should consider obtaining a life insurance product. Whether it be for short term protection, as a continued source of income for a surviving spouse or children, for debt relief and funeral expenses or for retirement purposes, the invaluable benefits of life insurance is incontrovertible. Speak to a Life Insurance Broker today! Our knowledgeable and highly trained insurance advisers will equip you with expert knowledge at your fingertips. Reach us at 1 (855) 482-5001.

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