Retirement Planning With Insurance Policies

Everything is fine when you have a job and a constant income stream and when you are young, you seldom think about retirement.  This could be a big mistake as your future should be just as secure as the present. That is exactly why you need to consider retirement planning very seriously. One of the easiest things to do is invest in an insurance policy that can guarantee you a certain amount based on your present earnings. Most insurance policies are aimed at securing your dependent’s life after your death. But there are ways you can use that very policy to secure your retirement.

Buy a Permanent Life Insurance

When you buy a permanent policy, the cash gets accumulated in your account and it does not attract any tax. Along with protecting your life in many ways, the policy allows you to borrow tax-free money on the value. Unlike term insurance, the permanent ones cover the risk for the whole of your life and not limited to a specific number of years. You can even surrender this policy and use it for your retirement expenses without paying a penny towards tax.

List your requirements

The best way for a retirement planning is to list the things that you think will need financial help in the future. There are plenty of policies to choose from that meet different requirements of a person. Whether you want to pay your mortgage, rent, get a loan for emergencies, meet travel expenses or even money to fulfill basic living needs, there is a policy that is right for your future. An investment adviser can help you figure out your needs and help you navigate the many options.

Regular returns

There are insurance policies with a systematic return after maturity and the duration of maturity depends on your current age and the income you expect. This works more like a pension plan but even covers for your life in case of death or illness as well. You will either be able to surrender and make a complete withdrawal after a minimum eligible age of policy or buy a loan against the value of your entire policy. The benefit here is you will get a large sum without any tax. You can consult an insurance company to understand the policy completely and see how you can really benefit during your retirement age.

Life Insurance – Top Reasons You Really Need It

There are many different insurance policies that you need to buy, but many people end up overlooking one important one – life insurance. This type of insurance is essential because if something happens to you, your loved ones need to be taken care of. We all know that life can change in an instant, and being prepared is a necessity. With a good policy, you can have the peace of mind that comes with knowing that your family will be provided for.

Here are some of the top reasons why you need life insurance.

Take Care of the Family

You never know when something could happen to you. This is one of the main reasons you should be purchasing this type of insurance. When this insurance covers you, you’ll know that the family is taken care of, even if something does happen to you.

Business Protection

Another reason to have life insurance is for business protection. If something happens to a partner in the business, life insurance can help ensure that the business is still protected.

Funeral Costs

You may be shocked to find out that even the most simple funeral can cost over $6,000.  Why leave your family with such a financial worry after you’re gone? Having the insurance you need can help make sure that your family has one less thing to worry about.

Illness May Be Covered

Not only is death something that could hit your family hard financially, but if you ended up with a severe illness, this could cause serious financial problems as well. There are many life insurance policies out there that will also cover you should you get sick.

The Money is Tax-Free

There is a tax on almost everything these days. However, the money received from a life insurance policy is tax-free. If you die and your family collects on the insurance policy, this money cannot be taxed, which is an important reason you should make sure you have a good plan.

As you can see, life insurance is an important investment. Don’t leave your family without protection. A good policy will give you peace of mind. Life insurance and mortgage insurance are 2 ways that you can ensure the comfort of your loved ones. No matter what kind of insurance you choose, the important thing is to make sure you research it carefully before actually taking the final decision. Don’t forget to choose an insurance agent that you trust to advise you on the best plan for you and your family.

Marketing Tips for Insurance Agents

Insurance agents can be some of the most important people you’ll ever do business with. They will help you protect your property, your assets, and your finances. The work of an insurance agent has the potential to save you from financial ruin. The following marketing tips can help you reach new customers and bolster your business.

Have a website

Unbelievable as it sounds, some insurance agents don’t have a presence online. With the current digital landscape, more and more people are using the internet to shop around for everything from their choice of a doctor to making airline reservations for an upcoming vacation, to where they want to go for insurance. By providing a website that not online markets your business but also informs people about the types of services you offer and why they might need them, people will already have a foot in your door, whether they realize it or not.

Offer the most affordable rates

It seems silly to even mention, but you should constantly stay on top of the industry to ensure you are offering the most affordable rates you possibly can. Don’t be afraid to shop around and find out what your competitors offer, or to see about getting better rates for your customers. People are living longer, which means life insurance rates are the lowest they’ve been in years.

Offer special deals for referrals

Loyalty is important. People are likely to engage themselves in business with the people they know and trust. By giving your customers incentives such as discounts on rates or a gift certificate to a nice restaurant, they’ll be far more likely to refer their family and friends to you. Make sure to send a handwritten thank you note to express your sincere appreciation.

Offer group discounts

If you have the opportunity to sell a family of four cars of term life insurance, why not offer a 10% discounted rate? If you don’t, another insurance company just might. Plus, when you sign teenagers up, you have an opportunity to have loyal customers for life.

Take advantage of social media

If you’ve got a website, you need to promote it. And one of the best ways to promote it is through the use of social media such as Twitter, Facebook, and LinkedIn. You can even sync your accounts together so you only have to post in one place and it shows up everywhere. Don’t know what to tweet? Information is key. Make your tweets and Facebook posts informative.

How to Become an Insurance Agent in Ontario, Canada

Ontario holds over 40% of Canada’s population and for this reason, the insurance industry is a popular niche. You can become an insurance agent in this province, but you have to know what you are doing. Here are some requirements and other things to look into regarding your goal.

Requirements

If you want to become an insurance agent in Ontario, Canada, you have to meet some requirements. But you should not worry too much about them because they are relatively easy to get. Remember also that these requirements are just a way of keeping most people “out of the money” because of these licenses. First off, you have to complete what is called the application to become a General Insurance Agent. You need to know the laws of Ontario when it comes to licensing any insurance agent. A licensed insurer must be your sponsor.

You have to carry on business with something called good faith. Your reputation and character must be good. Remember also that you have to meet each one of the licensing requirements. There is also an educational background that you have to meet, and you will have to use an Ontario mailing address and provide FSCO with it. Keep this in mind so you can get what you want. There is also an examination to become a general insurance agent and you have to keep this in mind. Remember also that the FSCO will not conduct any examination at all so you have to be prepared to deal with this.

Licensing Link and More

FSCO has an online system that you can use to perform a wide array of licensing transaction. This will make your life easier because you will have a search too. The tool will allow you to confirm your status right away. You can also check any information about your licensing application along with renewals. FSCO also has many customer service representatives that will allow you to get answers to any question that you might have. You have to have E&O insurance or errors and omissions insurance. The limit of this insurance should be $1 million at least.

Exam

You will have to pass an exam so you can become an insurance agent in Ontario. They might ask you about the parts of the insurance policy dealing with duties, conduct, and obligations. These are truly interesting questions that you have to answer. There are other questions about the types of policies that you have to use depending on the situation that you have found. There are also questions about the negligent act that end up causing a loss. You have to know what these types of acts mean for the insurance company so that you can do a good job.

Becoming an insurance agent in Ontario, Canada is not hard. You have to have patience and persistence if you want to achieve your goal. The people in the industry just want to keep you out of the game, but you have to understand this natural egoism. So you have to develop your mental powers to become an insurance agent right away.