Life
Insurance
Advice & Consultant
Bill DeWinter
While many individuals have no need for life insurance for others it
is a critical part of a sound financial plan. When searching for the
most appropriate form of life insurance for you and your family there
are many decisions you need to make. One is determining whether your
life insurance is permanent or temporary. Term or temporary insurance
covers shorter term needs while permanent insurance covers life long
needs.
Term life insurance is the least
expensive type of coverage, at least initially, and the simplest.
Coverage is in effect for a fixed term or period of time—typically 1
to 30 years—and usually can be renewed. The policy pays your
beneficiary a fixed amount of money if you die during the term of the
policy. The premiums are lowest when you are young and generally
increase upon renewal as you age. These policies do not build up a
cash value. More
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Bill
DeWinter BA (Econ)
Certified Financial Planner
KW Area:
1.519.880.8171
Toll Free:
1.888.665.7534
London: 1.519.264.9988
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DeWinter Financial
Founded in 1995
CFP
Since 2000
P.O. Box 781
Mt. Brydges
ON Canada
N0L 1W0
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Whole Life Insurance
Whole Life
insurance is a form of permanent insurance coverage.
Whole Life insurance provides protection as well as a cash value.
Your premiums remain at a fixed level for the duration of the
contract. Over time, the policy builds up cash value on a tax-deferred
basis. It may also provide for dividends (which are not guaranteed),
that can be used to add more coverage, can build a cash-value that you
can use to supplement your retirement income or help provide for a
child's education—it's your money to use as you need.1 But
keep in mind insurance should not be purchased solely for
cash-value accumulation; its primary purpose is protection.
Universal Life Insurance
Universal Life Insurance is
a flexible form of
permanent insurance. These
policies are interest-sensitive and permit you to adjust the death
benefit and/or premium payments, within limits, to fit your situation.
Your net premium payments are applied to the accumulation fund, which
earns interest. The monthly cost of the death benefit and policy
administration is deducted from the accumulation fund. As with Whole
Life, the cash value is yours — you may withdraw it or
borrow against it at any time.1 Or, you can use your cash
value to pay premiums. Universal rates are subject to change, but
the rate will never fall below the minimum rate guaranteed in the
contract.
Call Bill DeWinter
- Toll Free:
1.888.665.7534
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