AVISO INSURANCE INC.

Secure Your Family's Future with Comprehensive Life Insurance

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Term Insurance is a type of life insurance policy that provides coverage for a specific period, or "term." If the policyholder dies during this term, a death benefit is paid to the beneficiaries. Term insurance is generally more affordable than permanent life insurance and is often chosen to cover financial obligations like mortgages, education expenses, or income replacement during the policyholder's working years.
Permanent insurance also known as whole life or universal life insurance, provides lifelong coverage as long as premiums are paid. Unlike term insurance, it includes a cash value component that grows over time, which policyholders can borrow against or withdraw. Permanent insurance is typically more expensive than term insurance but offers the benefit of lasting coverage and potential financial growth.

Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire lifetime, as long as premiums are paid. It includes a death benefit and a savings component, known as the cash value, which grows over time on a tax-deferred basis. Whole life insurance offers fixed premiums, meaning they remain consistent throughout the policyholder's life. Additionally, policyholders can borrow against the cash value or even surrender the policy for its cash value, making it a versatile financial tool for long-term planning and wealth accumulation.

Universal life insurance is a type of permanent life insurance that offers flexible premiums and adjustable death benefits, providing both a death benefit and a cash value component. Unlike whole life insurance, policyholders can alter their premium payments and death benefits within certain limits, making it a more adaptable option for changing financial needs. The cash value grows based on the performance of the underlying investments, and policyholders can use the accumulated cash value to pay premiums or take out loans. Universal life insurance combines the security of a death benefit with the potential for growth and flexibility in financial planning.

Disability insurance provides income protection in the event that a policyholder becomes unable to work due to a disability or illness. This type of insurance helps cover a portion of the policyholder's income, ensuring financial stability during periods when they are unable to earn a living. Disability insurance can be short-term or long-term, with varying coverage amounts and benefit periods, making it a crucial component of a comprehensive financial protection plan.
Critical Illness insurance provides a lump sum payment if the policyholder is diagnosed with a serious illness covered by the policy, such as cancer, heart attack, or stroke. This financial support can be used for medical treatments, living expenses, or any other needs during a challenging time. Critical illness insurance helps reduce the financial burden of significant health issues, allowing the policyholder to focus on recovery.

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Disclaimer: Aviso Insurance Inc. offers financial planning, life insurance and investments to members of credit unions and their communities.  Your insurance contract will provide details of the coverage available under the plan you choose.  Restrictions may apply.

The information contained on this website was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This material is provided as a general source of information and should not be considered personal advice.  Please speak to your Aviso Insurance Representative or personal financial representative before making any financial planning decision or implementing any strategy.