Canadian insurers have gone through two or three rounds of price increases since December 2010. Does pricier insurance still make sense for clients who want to leave legacies?
BEING UNINSURABLE IS A BIGGER PROBLEM
THAN PRICIER INSURANCE!
Term insurance is a more cost-efficient option for younger clients. As age increases, so does the cost of insurance. People trying to wait out this period of rock-bottom interest rates need to be equally concerned about protecting their insurability.
INSURANCE ISN’T A COMMODITY CLIENTS
CAN GET IN AND OUT OF AT WILL!
Clients must qualify medically to be insured. In most cases, the cost of waiting—even two or three years—might prove pricier than any price increases. Even if interest rates start trending up, there’ll be a lag before current fixed-income investments mature and can be reinvested at higher interest rates.
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