Permanent Life Insurance - Niagara Falls

Hometown Life Insurance provides a modernized permanent life insurance experience by combining our knowledgeable team of licensed professionals with our seamless digital platform. We begin by understanding your personal situation and goals to ensure we can provide you with sound advice, but our value goes far beyond the initial policy setup. Our Hometown team is here to support you with any questions or changes you require – your customer experience is at the centre of everything we do, so let us know how we can continue to elevate your experience to the highest level!

Permanent insurance is more complicated and more expensive than term insurance and usually requires a bit more analysis. But don’t worry – when you partner with Hometown, we will do the heavy lifting for you. We start by getting to know you before making any recommendations. After all, your life insurance policy should be tailored to your needs. Once we have a grasp on your goals for insurance, we can evaluate the options on the market to provide our recommendation to you for discussion. This saves you significant time and effort as our team has the experience and know-how to find the best options for you. Check out our website for more information on whole life insurance and universal life insurance or connect with our Niagara Falls team to get on the right track!

With permanent insurance, your premiums will not increase, and you can actually select how long you would like to pay them for too! Lifetime payment requires monthly premiums to be paid throughout the life of the policy while a limited pay option allows you to select a shorter term like 10, 15, 20 years. Both types of policies will lock in your premiums at a flat rate for the duration. Naturally, the longer the payment term, the lower the monthly premiums – but you have the choice as to what works best for you!

Our Hometown Life Insurance team serving Niagara Falls is here to make the claims process as easy and quick as possible. We understand this can be a difficult time, so we want to relieve you of as much responsibility as we can by gathering the details of the claim and submitting to the insurance company on your behalf. We will take care of as much of the follow up as we can and work to get the payment issued as quickly as possible.

The only payment you will make is the monthly premiums when your policy is approved and put in-force. Any costs related to the quote, application and medical underwriting is covered by the insurance company on your behalf.

Yes, you can cancel your permanent insurance policy without a fee, but there may be some additional consequences you will want to consider. The cash value in a permanent insurance policy will grow without tax implications for as long as it remains in the policy. However, when the policy is cancelled, any cash value paid out may have taxes owing on it. In addition to the tax consideration, if you ever require coverage again in the future, you would have to reapply. Your premiums would be higher with your increased age and any changes to your health could affect your rates or even your insurability. Our Niagara Falls Hometown team has a comprehensive understanding of your options, so that we can assist you in making the best decision for you and your family. You may be able to use your cash value to pay premiums or even access some of the cash within the policy while still keeping it in-force.