Term Life Insurance
Reviewing Term 30 With Ivari

As brokers, we have access to every company in Canada which gives us an advantage to some of our competitors when it comes to shopping for Term Life Insurance. It is good to know that one of the number one questions our clients ask us is: “Why would you recommend one company over another?” 

Simply put, we want to find you the best policy at the best price for your given situation. It is our job to know what different companies offer and be able to recommend the best one for you. 

Let’s break down one option so you can see why working with a broker who knows the market is crucial to finding you the best product.

Introducing Term 30 with Ivari (Formerly Transamerica)

Term 30 offers you Life Insurance for 30 years while knowing your premiums will not go up for 30 years. It’s easy to understand why term 30 is becoming so popular. 

With many mortgages having a 25 or 30-year amortization, term 30 becomes the most affordable option to have Life Insurance for 30 years. However, the policy with Ivari offers 3 benefits you do not get with other carriers. 

Let’s take a look at those three benefits in detail:

Select30

As your mortgage and other debts are paid down and your children grow up, your need for debt and income protection typically decreases. 

With the Select30 option, you could choose to stop paying premiums and have reduced coverage, free of charge, for the remainder of your 30-year term. 

This option is a great fit if you reduce your debts or mortgage faster than planned or if your financial situation changes and you no longer feel that you can afford the monthly premium.

SelectLIFE

Although your need for insurance protection may decrease throughout your life, chances are that you will always have a permanent need for it. Whether it’s for final expenses or to offset estate taxes for your loved ones, with a tax-free death benefit you can ensure you’re always looking out for your family. 

The SelectLIFE option offers you the ability to have paid-up lifetime final expense coverage on a reduced amount. Not only will you have coverage for life, but once this option is selected, you will also no longer need to pay premiums.

SelectVALUE

While temporary coverage can meet your needs while you and your family are younger, you may find that as your family grows, your insurance needs evolve to a wealth accumulation or an estate planning need. 

For both of these needs, the tax-deferred investment component and permanent coverage of a Universal Life plan (UL) are quite attractive. With a Term-30 policy from Ivari, you will have the ability to convert to a UL plan. And with the SelectVALUE option, you will be able to carry the cash value of your Term-30 policy into your UL investments, tax-deferred. 

If you no longer need the same amount of coverage, you can choose to surrender or decrease your coverage and take the value as a taxable cash amount.

These three options are unique to Ivari which means if you are looking for mortgage protection or in a place where you need coverage for a minimum of 30 years, Ivari may be a company you want to consider. 

For more options or questions feel free to reach out to one of our non-commissioned staff, who would be happy to help.