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The purpose of life insurance is to help your beneficiaries — which could mean your spouse, children, or other dependents — maintain their standard of living after you die. If there are people who depend on your income, life insurance will grant your family financial stability. The death benefit can be used to cover your mortgage or other debt payments, cover funeral expenses, and contribute to your estate.
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Manulife Financial Corporation (Financière Manuvie in Quebec) is a Canadian insurance company that can boast having Canada’s first prime minister, John A. MacDonald, as its first president. It came into existence through an Act of Parliament on June 23, 1887 as The Manufacturers Life Insurance Company. It’s currently known as Manulife in Canada and Asia, and as the John Hancock Life Insurance Company in the U.S. It offers health, travel, life, disability and critical illness insurance.
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Starting to look for life insurance quotes in Manitoba? It’s important to have an understanding of when you need life insurance, how it works, and what kind of life insurance you need.
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While no one really wants to think about life insurance, most people should. Life is unpredictable and accidents and illness affect us all at some point. Life insurance makes sure that your loved ones are financially protected should something happen to you.
A life insurance policy will provide your beneficiaries with financial compensation that they can put towards funeral costs, or pay off a mortgage and other debts.
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Life insurance provides crucial financial support to your family after you pass away.
To have active life insurance, you must pay a fee called a premium in order for your benefit to be distributed to your beneficiaries once you die.
Your premium is based on your age, health and how high-risk the insurer deems your lifestyle to be.
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