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Choose The Right Life Insurance 


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Term life insurance, whole life insurance, universal life insurance, variable life insurance….the list and combinations seem endless. Do you know which life insurance policy is right for you? Life insurance doesn’t have to be confusing. Let us walk you through the process . At L.D. Dermody we can help find the right plan for your specific needs.

It's so easy...


Step 1. Lets get acquainted.  Provide us with a few details about you and the type of Life Insurance your looking for.

Step 2. Get the right advice.  A qualified adviser will go through all your options and help you to decide what life insurance will be right for you.

Step 3. Get Covered.  Knowing that you have made the right choice we help you to complete an application and get covered.







  • Find the right life insurance that suites your needs
  • Gain greater peace of mind
  • Explore your options
  • Our cost are the same as buying direct from an insurer
However you wish to communicate we’re here to help. Call directly to speak to one of our insurance specialists, schedule an appointment, send an email or simply complete our online enquiry form. Whatever method you choose you’ll receive the same individualized service and attention to details. We’ll happily review your insurance program making sure that it's right for you.
  1. Call 1-877-337-6639 and speak to one of our brokers.
  2. To send us an email enquiry please click here.
  3. To send us an online enquiry click here.
Our Address:  7750 Birchmount Road, Unit 4, Markham Ontario L3R 0B4
 

Why Buy Life Insurance

 

There are a variety of reasons why people may consider purchasing life insurance. Most people have life insurance in order to replace their income in event of death. This helps to protect their dependents from economic hardship such as the inability to meet mortgage payments on your family home. The younger your family, the more vulnerable it is to economic loss should you die. Other people buy life insurance to help meet cash needs when death occurs. Final expenses can include funeral costs, outstanding bills, uninsured medical expenses, estate taxes, executor, and legal fees. Businesses often require insurance to secure loans or partnership agreements. Finally, some people will use life insurance as an effective, taxed deferred way, to invest money.

The needs of every family are different. To determine how much life insurance you need, figure out what your assets are worth today and what your dependents would actually need to remain in the same lifestyle you are accustomed to.

A wide variety of life insurance plans are offered. There are two basic types, term and whole life. Most other plans are a variation or combination of these basic types.

 

Term Insurance

Term Insurance covers you for a specific period of time such as one, five, ten or more years. Most term polices are renewable, for one or more additional terms. The premium you pay will usually increase at the renewal of each term, to reflect your higher age and greater likelihood of death. Most term insurance polices do not provide cash values or other non-forfeiture options. Term insurance is usually considered the lowest cost route of buying large amounts of insurance.

Whole Life Insurance

Whole life insurance covers an individual for their entire life. The premium does not change. They are typically higher than term insurance . In effect you pay a higher premium than what is needed to meet the insurance risk in the early years and a lower amount than what is needed later on in the life of the policy. The excess that is collected n the early years accumulates as cash values, which are invested by the life insurance company.


Combinations

You can combine different kinds of insurance. For example, you can buy whole life insurance for lifetime coverage and add term insurance for a specific period of time when your needs are greater.


Universal Life Insurance

Universal Life, which is one of the more popular plans today, can cover you for the whole of your life with very flexible payment options. These flexible polices allow you to increase, decrease or stop your premiums altogether. Premiums are paid into a fund. From that fund you can choose different savings vehicles in which to invest the money in order to earn interest. Some of the interest will be non-taxable. The insurance continues for as long as there is enough money in the fund to pay the charges for the life insurance as they come due.

 

L.D. Dermody Insurance Brokers (1982) Inc.
35.172.233.2