Compare Life Insurance USA
CHEAPEST Life Insurance?
Compare all major providers Apply Now!
Save Money on American Life Insurance!


American Flag
Life Insurance USA

Welcome to Cheapest Life Insurance USA. Choosing the right provider can be a confusing task.
We make it easy for you.

 Cheapest Life Insurance USA  

  • Cheap Life Insurance
  • Leading Life Insurance Providers
  • Compare Life Insurance Providers
  • Finding the cheapest Life Insurance has never been easier!
  • Save $'s on your Life Insurance costs - Apply Now!
Cheapest Life Insurance USA - RH Include

Bookmark us

Home

List of Providers

Information Center:
Frequent Life Insurance Questions
Estate Planning

Mortgage Protection

Whole Life
Term Life
Variable Life

Universal Life

Disability

Long Term Care

Survivorship Life

Apply Online Now!

Insurance Products
Life Insurance

Financial Products
Creditcards
Mortgages
Loans

Utilities
Phone Calls
Long Distance Calls
Web Hosting


 

 

 Cheapest Life Insurance USA

Wawanesa Life - Life Insurance

The Wawanesa Life Organization

The Wawanesa Life Insurance Company is a wholly-owned subsidiary of The Wawanesa Mutual Insurance Company. Wawanesa Mutual is one of the largest property & casualty insurers in Canada. It was established in 1896 in the village of Wawanesa, Manitoba and incorporated in 1929. Executive Offices are located in Winnipeg, Manitoba. Wawanesa Mutual operates in all areas of Canada as well as in the states of California and Oregon.

Having celebrated its 100th birthday in 1996, Wawanesa is proud of its outstanding growth, stability and dedicated service to policyholders. The Company slogan, introduced in concert with the centennial year is "Earning Your Trust Since 1896".


The Wawanesa Life Insurance Company

The Wawanesa Life Insurance Company (Life Company) was established by The Wawanesa Mutual Insurance Company (Mutual Company) in 1960 to expand the line of products being made available by Mutual Company to its agents. Over the years, Mutual Company has provided significant support to Life Company, from both operating and financial standpoints. In 1993, Life Company was converted from a mutual to a stock form of company and became a wholly-owned subsidiary of Mutual Company. At that time, Mutual Company added to the capital which it had provided to Life Company over the years since inception. In 1995, Mutual Company further strengthened the capital position of Life Company through the purchase of additional common shares.

Although there may appear to be a vast array of life insurance policy types available, they all consist of one of two basic forms: Permanent insurance and Term insurance. As the names imply, permanent insurance is permanent (for life) and term insurance is temporary. Most people require a combination of the two types to fit their needs. Examples of permanent needs are funeral expenses, survivors' income, taxes at death on capital gains, taxation of RRSPs and RRIFs, charitable bequests. Examples of temporary needs are mortgages, children's education, business loans.


Permanent Products

Universal Life - This is a permanent insurance plan which provides for separation of the insurance and savings components of the policy. In general, all premiums are deposited to interest bearing investment accounts. Cost Of Insurance (COI) charges and administration fees are deducted from these accounts. Policyholders may direct premiums to a variety of investment account choices including a Daily Interest Account, Guaranteed Investment Accounts of varying terms, a Canadian Equity Index-Linked Account and a U.S. Equity Index-Linked Account. Two COI charge methods may be selected by the policyholder. The charges may be level for the life of the policy, or alternatively may be level (at a lower amount) up to age 65 and then increase to a new (higher) amount for the remainder of the policy. The tax-free death benefit will consist of the death benefit provided by the insurance coverages selected plus the value of the various investment accounts. The Account Value, less a surrender charge in the early years, will be available to the policyholder upon surrender before the death of the life insured.

Term to Age 100 - Although the name of this plan implies temporary protection this plan provides a level amount of permanent life insurance to age 100 of the life insured, at which time the face amount of insurance is paid. Premiums are guaranteed, are level and payable to age 100. This plan is also available on a joint-last to die basis.

Fifteen Pay Term to Age 100 - This plan provides a level amount of permanent life insurance to age 100 of the life insured, at which time the face amount of insurance is paid. All premiums are guaranteed, level and payable for 15 years only. A guaranteed cash value will develop, commencing in the 10th year, which will be available to the policyholder upon surrender before the death of the life insured.

Twenty Pay Term to age 100 - This plan provides a level amount of permanent life insurance to age 100 of the life insured, at which time the face amount of insurance is paid. All premiums are guaranteed, level and payable for 20 years only. A guaranteed cash value will develop, commencing in the 10th year, which will be available to the policyholder upon surrender before the death of the life insured.

Senior Security Plan - This plan is designed for individuals age 50 to 75. It is a guaranteed issue permanent plan with just 4 qualifying questions. Premiums are guaranteed, level and payable for 20 years only. The death benefit in the first 2 years will be the return of the premiums paid plus 10% interest to the date of death. Thereafter the full protection is paid when death occurs. The death benefit amount is paid to the policyowner if living after the later of 20 years, or age 85.

Although there may appear to be a vast array of life insurance policy types available, they all consist of one of two basic forms: Permanent insurance and Term insurance. As the names imply, permanent insurance is permanent (for life) and term insurance is temporary. Most people require a combination of the two types to fit their needs. Examples of permanent needs are funeral expenses, survivors' income, taxes at death on capital gains, taxation of RRSPs and RRIFs, charitable bequests. Examples of temporary needs are mortgages, children's education, business loans.


Temporary Products

LifeStyle Term - These plans consist of 10 year or 20 year Renewable & Convertible Term Insurance. The sum insured is level and all premiums are guaranteed. LifeStyle Term can be renewed until age 75 of the life insured, at which time the insurance terminates. These plans are also available on a joint - first to die basis.

Preferred Underwriting of LifeStyle Term - Today's emphasis on healthy lifestyles allows applicants to be grouped into a greater variety of lifestyle categories. This results in a more appropriate premium being charged. In the past, healthier applicants subsidized the insurance costs of those who were less healthy. LifeStyle Term rewards better risks with lower premiums. Preferred Underwriting classes available for LifeStyle Term include three nonsmoker classes and two smoker classes.

Lifestyle Adjustment Plan (critical illness protection) - The Lifestyle Adjustment Plan is designed to provide funds to help you financially care for yourself and your family and maintain the same quality of life after surviving a critical illness. The plan provides a tax-free lump sum living benefit to the owner of the plan on the occurrence of the first of the covered illnesses of the insured, provided the insured survives the waiting period following the onset of the critical illness. The waiting period is 30 days from diagnosis, except for Loss of Speech (6 months) and Paralysis (90 days). No living benefit is payable if cancer is diagnosed within 90 days of issue.

Whatever your insurance & financial needs, Wawanesa Life has a plan which can be tailored to fit your needs. For more information contact an Insurance Advisor from Wawanesa Life.

 

 

 

200 - 191 Broadway,
Winnipeg,
MB R3C 3P1

http://www.wawanesalife.com

Google
Search WWW Search cheapest-life-insurance.com

 
© 2001 Cheapest Offer Ltd
Last changes: 22/10/2003 14:11:00 Disclaimer
Designed & Powered by Web DMP Ltd - jeb