Term 30 Plans
A benefit of the term 30 plan is that you are given guaranteed premiums that never increase; this means that for 30 years you have reliable and secure life insurance with no unwanted surprises.
Small business owners can benefit greatly from this plan type as it offers affordable, yet extensive coverage for a longer period of time. Also, term 30 plans are ideal for those who want to have income replacement should something happen to you. Use a term 30 plan to cover your children through to university and even grad school as well as supporting your spouse or any other dependents.
Term 30 is best suited for the following needs:
- Maximum length mortgage of 25 years or more.
- Larger business or personal loans that require longer repayment strategies
- Building insurability into retirement.