Life/Disability/Group Plans
Life Insurance
Get It Done While You Are Young
The benefits of setting up life insurance at a young age, is apparent in the charts below. One huge benefit is you can also pick an option that will have your rates guaranteed up to age 100, without having to prove you are still insurable. This means that if you contract a terminal illness or have survived a serious illness, the cost of life insurance will not be affected as the years go by.
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Example: 1 Term Insurance to age 85 Male- Non Smoker, No family or personal health issues, 250,000 of life insurance. Purchased at the following ages. Showing Monthly Premiums* up to age 85. You cannot purchase this type of insurance past age 85.
Age Year 1 – 20 Year 21 – 40 Year 41 – 60 25 21.60 117.45 655.20 35 26.33 288.00 1620.00 50 88.43 946.35 N/A 60 268.65 1917.00 N/A |
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Example 2 – Universal Life Insurance to age 100 Male- Non Smoker, No family or personal health issues, 250,000 of insurance. Showing Monthly Premiums up to age 100. Purchased at the following ages. Note this insurance also has a saving component that you can invest in and which is protected from creditors.
Age Monthly Premium * 25 68.24 35 97.58 50 231.72 60 459.83 |
*Premium amounts shown are for illustration purposes only and should not be used for anything other than a general comparison. There are many factors which can change the premium amount payable for an individual. Please consult Shirley Cox at Doner Horsley Insurance Brokers at 705-435-3891 or scox@donerhorsley.ca for a personalized quotation.
