Insurance Companies and The Benefits They Offer

If you’re looking forward to purchase financial products, there are numerous places you can go such as insurance companies, mutual fund companies, credit unions, trust companies, and banks. The lines that used to determining institutions have become blurred.

If you wish to buy stocks, seeing a stockbroker is a good idea. But, for insurance, you should visit one of the best insurance companies around your area. Mutual fund companies, insurance companies, and banks are all in the same industry and even some of their products are similar. In spite of convergence, life insurance companies such as Estoy Seguro have several unique advantages, which investors must be aware of. Below are the benefits of investing in insurance companies:


  • Creditor Protection

Protecting assets from seizure by creditors is a vital and frequently overlooked part of investment assets. In general, the assets held within the insurance contracts as well as annuity products such as the RRSP, term deposits, and segregated fund contracts of insurers can’t be seized by the creditors provided that particular conditions are met once the contracts are arranged.

  • Guarantees

Once you purchase a segregated fund through insurance companies, there are usually guarantees of capital under 2 circumstances. The first is once you die and the second one is once you reach a ten-year maturity period. Several products are taking these advantages to the new level through providing guaranteed monthly income for the retirees requiring income from their own portfolio. While it may seem beneficial, take note that insurance companies aren’t offering you these advantages for free. They often come at a cost and in several instances, a pricey cost. So, remember to take some time checking out the charges being asked.

  • Probate Protection

Once you need to probate a property at death, there’s the potential for time delays and significant fees depending on the size and complexity of the property. One of the best ways to reduce time delays and fees is through using investments with the insurance companies. Most importantly, investments held with insurance companies transfer directly to named beneficiaries at death without the need to go through the process of probate and estate.

  • Person Income Credit

People age sixty-five and above who get annuity income from qualified pension are said to be eligible at claiming tax credit amounting $2,000 on tax return. There are numerous kinds of pension incomes that qualify for the credit, yet the received amounts from QPP, CPP, and OAS don’t qualify for the credit.

The world  of investment continues to converge due to mutual fund companies as well as banks are partnering with Chilean insurance company  to deliver products with all such unique benefits. Even if these benefits have merits, ensure that you understand what you’re investing in and how much you’re paying to enjoy those benefits.

The benefits provided by insurance companies are just some of the many reasons why they exist in the market. If you want to take advantage of what these companies offer, make sure to conduct your own research.

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