by Glenn Cooke
In this video, I’m going to step you through how to purchase life insurance online. In my experience, the biggest problem that most consumers have with purchasing life insurance online, is very simply a nagging feeling that they didn’t get everything right. They heard a bunch of conflicting information online, and they’re almost sure but not quite 100% sure that they’re doing the right thing. So here’s how to reassure yourself that you are doing the right thing.
Number 1, figure out how much life insurance you need first before you look at the types or anything else, determine how much you need. There’s a calculator on our homepage at thetermguy.ca that will step you through situations common for most Canadian families and the end result should be 10-15x your gross income, somewhere in that range is very typical, it’s where most of our clients end up.
Once you’ve determined that the second step is to determine the term; 10, 20, or 30 years. The correct choice is, how long do you need insurance for. For most people, that’s generally until the kids are out of the house until retirement, what’s the closest time frame for that to happen; 10, 20 or 30 years, that’s going to be the correct choice for most Canadian consumers. And most Canadian consumers looking in that will likely end up with a 20 year term. Nothing wrong with 10 or 30 year term, it’s just that 20 year term is far and away the most commonly purchased type of term life insurance.
Lastly, the application process. We actually 3 ways you can do that. If you don’t want to speak with an insurance agent, you can go to our website, hit the ‘Apply Online Now’ button and answer a few quick questions, it will take you less than 5 minutes – Boom, your application has started. But if you’re still not 100% sure, we do offer 2 additional choices, where you can speak with an experience advisor and get all your questions asked before you apply, or actually apply through these methods. You can either go to our website and book a Zoom appointment so we can talk face-to-face. Or alternatively, you can just give us a call at the toll-free number on our website. We’re happy, no-obligation, we’ll answer all the questions you have and reassure you that in-fact you are making the right decision.
Let us show you how you can save up to 40% on term 20 and term 30 premiums until your next birthday! Find out how Term Stacking works and can save you even more on your term life insurance premiums - call now.