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9 Cards in this Set

  • Front
  • Back
Term (Temporary) Life
Less Expensive, affordable
Match Period of Need
Renews at higher cost
Often lapsed
No CSVTerm 100
Reducing Term
Permanent (Whole) Life
Coverage for ENTIRE LIFE
CSV
Usually has DIVIDENDS
Expensive
Paid Up Policys
Dividends Reduce Cost
Universal Life
Control of Investments
FLEXIBLE
Risks & Potential for Loss
Vary amounts of insurance and types of investments
Life Annuities
Income for life
Guaranteed return
RRSP eligble
can pay 2nd lifetime
gurantee return of capital
can index to inflation
Term Certain Annuties
Matches Need
Can run out of $$
Pays for X years or to selected AGE
Critical Illness
Pays out for serious illness
Limited to specific disease
Distracts from total needs
Disability Income
Coverage to age 65
EXPENSIVE, Limited
Supplements provicial coverage
Overhead Expses Insuarnce
Pays office costs
Premiums ARE DEDUCTIBLE
Segregated Funds
RRSP Eligible
Guaranteed Returns
Different Disclosure
Creditor Protection