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Types
of Life Insurance
There
are two major types of life insurance products, Term and Permanent.
Term insurance is designed to address temporary needs and
buys you protection for a specific period of time or "Term"
Permanent
insurance is generally used for permanent needs, such as providing
income for survivors, funeral expenses, capital gains taxes
on investments, real estate and RRSPs at death, charitable
gifts, or passing a business to the next generation.
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