Karen Sparrow

Make sure you have a clear plan in place to achieve your financial goals. If you need some help getting started, please let me know as I am happy to provide some guidance.

This article has lots of valuable information on basic insurance terms and the importance of obtaining it when you are younger. Please call or email me for more information or a free quote! [email protected] or 204-954-7920

Interesting results on how difficult many younger people are finding it to save any money.

Did you know that if you have life insurance from the bank or lender that holds your mortgage, the proceeds go to that bank to pay off your mortgage and your family receives none of it. With a private policy you decide who gets the money and they can use it however they like, to pay off the mortgage or any other use.

I hope that you have found some helpful information in my posts these last couple weeks of Life Insurance Awareness Month. Please check back often for more information and articles and call me at 204-954-7920 or email at [email protected] for a free quote.

Did you know that the odds of developing a disability or health issue are higher than dying prematurely, so it is also good to consider Disability or Critical Illness insurance. If you suddenly became very ill and couldn't work, how would you be able to still make your payment obligations, especially larger ones such as rent or a mortgage. Call me for more information!

Did you know that many insurance companies have now changed their policies to allow for occasional marijuana use without being immediately classified as a smoker? Smokers do pay more for insurance due to the higher risk of illness or disease, but now this occasional use doesn't automatically drive up your premium. Call or email me for more information!

Many people think that having life insurance is expensive. There are many options and policies to choose from and if you are young, the monthly premium can be less than $20 depending on your health, lifestyle and the amount of insurance you select. That premium will stay the same for the entire term you choose so it is much more economical to get insurance when you are younger rather than waiting for when you start a family or buy a house.

Did you know that the mortgage insurance offered by the banks has a declining balance? That means that as you pay down your mortgage, the amount of money that would be paid out reduces but your premiums stay the same for the term of the mortgage. With a private policy your premiums stays the same but so does the amount of insurance! Call me for more information.

Many people think about getting life insurance when they are buying a house and getting a mortgage. Did you know that you don't have to take the insurance that the bank is offering?? There are better and less expensive solutions with private insurance. Call me and I can help you save money and ensure that your new mortgage is covered!

The other type of life insurance is permanent insurance. This type of policy will cover you for life, as long as you need it. It is more expensive because it doesn't expire but can be the right decision depending upon your personal situation and financial goals. Call or email me for more information on how to select the right type for you.

Did you know that there are basically 2 types of life insurance? One is term and the other is permanent. With term insurance you select the length of time you want to have coverage, say 20 or 25 years. The premium you pay remains the same for that entire length of time and the policy will always pay out the amount of coverage that you selected. Tomorrow I will cover permanent insurance.

Many people are fortunate enough to have benefits at their workplace that may include life insurance. Those benefits are typically 1 or 2 times your annual salary. It is important to calculate how much that is and determine how far it would go to helping your loved ones. If you have a home with a $200,000 mortgage and you earn $40,000 per year, your policy would only payout $40-$80,000 in this example. That could mean having to sell the home if the remaining family doesn't earn enough to cover the payments. I can help bridge that difference for you. Call or email me for a free quote.