Insurances
If you’re looking for a dependable insurance policy, come see Nadeem Aslam a dedicated professional at MNA Financial Services. We help clients by providing policies that cover a wide range of unforeseeable circumstances. Purchasing a house, medical insurance, life insurance and so on. are an important milestones in your life.
For quality services from a professional at MNA Financial Services call or visit us. We not only help you get the best insurance policy you need, but comfortable for your peace of mind as well. Our goal is to see that the process goes smoothly for you, and that you can get the policy that works with your needs and budget.
Term Insurances
Term Life Insurance is the simplest and most affordable type of life insurance. It provides temporary protection for a predetermined period of time, usually 5, 10 or 20 years. Your coverage never decreases and the premiums are guaranteed for the length of the term you subscribed for.
The purpose of this type of coverage is to protect your beneficiaries by providing a tax free benefit that can assist with short term needs such as:
Mortgage
Children’s education
Loans and other debt
Term Life Insurance can also assist with longer-term needs such as:
Financial support for your beneficiaries when you pass away
Funds to cover financial obligations, and pay other expenses
Capital gains taxes on your assets (property, investments, etc.)
Term life insurance policies do a good job of meeting immediate needs and are renewable for another term period without providing proof of health. The price will increase so that it’s appropriate for your age at renewal, and the increase in premium can become substantial in later years. Coverage ceases for the majority of term contracts once you reach the age of 75 or 80.
Term life insurance provides the option to later move, or convert to a permanent life insurance policy without providing proof of health. However, this ability to convert to permanent life insurance often expires around age 65 or 70. When purchasing term life insurance, you need to understand your conversion options. Note that term life insurance, unlike permanent life insurance, does not accumulate cash value, hence you will not be entitled to any of the money you paid as premiums for the policy.
We at MNA Financial Services create a plan that is tailored to suit your budget, lifestyle and needs at every stage of life – offering the flexibility to make changes as your needs evolve. Explore our range of insurance options that can help give you the security and freedom you need to live the life you want.
Permanent Life Insurances
Permanent Life Insurance provides just that, coverage for your entire lifetime. This type of insurance offers the peace of mind that your premiums will never increase and in the event of your passing, your beneficiaries are guaranteed to receive a tax free benefit.
Whole Life Insurances
Whole life insurance, also called participating life insurance, is a form of permanent life insurance with a tax-advantaged cash value component. In addition, these policies have the potential for earning the policy owner dividends. Participating life insurance doesn’t require hands-on management by the policy owner. Instead, the insurance provider manages the assets backing the cash values and death benefit. Depending on your plan the cost of the coverage is spread out over the lifetime of the policy or over a limited time period such as 10, 20 years or till age 65. Some features of whole life insurance are:
Guaranteed premiums that remain level throughout the life of the policy.
Participating Whole Life Insurance policies earn dividends from the insurance company. This type of policy is usually more expensive than Non-Participating Whole Life Insurance.
Guaranteed cash value – unlike Term Life Insurance, some of the money you pay in premiums accumulates as guaranteed cash value. If you surrender the policy, this cash value would be available to you. In addition with some policies you are able to borrow against the cash value, but any amount that you haven’t repaid when you pass away reduces the death benefit.
We at MNA Financial Services create a plan that is tailored to suit your budget, lifestyle and needs at every stage of life – offering the flexibility to make changes as your needs evolve. Explore our range of insurance options that can help give you the security and freedom you need to live the life you want.
Illness Insurances
Critical Illness Insurance
Getting over a critical illness can be one of the most challenging time for you and your family. Financial obligations such as remaining financially stable, supporting your family and unexpected medical bills can add stress when you need to concentrate on recovery.
Critical Illness insurance will provide financial support when you need it most. This form of insurance will provide a benefit if you are diagnosed with a covered critical illness or condition. The types of conditions and illnesses covered vary from insurer to insurer, but typically include:
certain types of cancer
stroke of defined severity
heart attack of defined severity
paralysis
loss of vision
kidney failure
multiple sclerosis
Alzheimer’s
organ transplants
Coverage may depend on degree of severity of the condition. For instance a diagnosis of cancer that can be treated and is expected to be recovered from quickly can make it ineligible to be claimed. In addition a Critical Illness policy cannot be obtained for a pre-existing condition.
Disability Insurance
Accidents and illnesses can happen at any time, in fact 1 in 3 people, on average, will be disabled for 90 days or longer at least once before age 65. In addition, a disability that can affect your for more than 90 days can statistically last over 2.9 years. Protecting your earning potential is as important as insuring your car or home. Disability insurance is designed to provide a source of income if you are unable to work due to a disability and offers guaranteed coverage and guaranteed premiums.
Why do you need Disability Insurance:
Worker Compensation only covers work related accidents
Unemployment insurance only covers 15 weeks
Medical and prescriptions costs can add up significantly
Government benefits are very limited
Group coverage will only match a percentage of your income and thus can be insufficient