Term insurance provides death-benefit protection for a specified period of time (a term). Yearly term renewable insurance offers a longer term (usually for 5, 10, 15, or 20 years). Convertible term is like a yearly renewable term, except that it also offers conversion to a permanent policy in the future without any evidence of insurability. In general, if you're looking for coverage for a short period of time, term insurance makes more sense.
Please note: Ms. Mimi Tang, offers financial planning and insurance services as an independent representative, under Mimi Tang Wealth Management and Consulting LTD. and these services are offered independently of PEAK Securities.
PEAK Securities inc., an IDA registered, full service investment broker, limits its responsibility to investment products such as stocks, bonds, and mutual funds. PEAK Securities inc. is a member of the Canadian Investor Protection Fund.
Call Mimi Tang at (604) 926-8068 or email mtang@peakgroup.com
for financial planning in Vancouver, British Columbia, Canada.
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