The type of life insurance you need in Brampton depends on your unique circumstances. When you compare life insurance in Brampton, you’ll probably notice that there are two main kinds of insurance. You’ll notice that your life insurance options include term life insurance (which covers you for a fixed period of time) and permanent life insurance (which covers you for the rest of your life).
Many people opt for term life insurance because it tends to be more affordable than permanent life insurance. Term life insurance can cover you during high-risk times in your life (such as when your children are young). You’ll typically get insurance protection for a timeframe of 10-30 years.
While permanent life insurance, including universal and whole, offers lifelong coverage, many families don’t need their coverage to last the rest of their lives. As these kinds of insurance are typically more expensive, they tend to be best suited to people with higher incomes.