Insurance is a valuable risk-financing tool. Purchasing insurance, however, is not risk management. A thorough and thoughtful risk management plan is a defensive measure used against future conditional losses.

LIFE INSURANCE is a commitment or an agreement between the policy owner and the insurer. In the event of the uncertain event, the insurer agrees to indemnify or provide a per-determined compensation to the beneficiary of the life policy. Broadly, insurance can be categorized into TERM insurance and PERMANENT insurance.

TYPES OF INSURANCE
Life Insurance are two types: Term and Permanent Insurance:

TERM INSURANCE - Provides coverage at a fixed rate of payments for a limited period of time, the relevant term 10, 20 OR 30 YEARS etc.

PERMANENT INSURANCE – Permanent life policies, as their name implies, are meant to be held and paid into for the duration of the insured’s life. Because of this, there are significant fees associated with setting up the policy.

We at ONS Financials Inc. deal with 15 different insurance companies to help provide you with a competitive coverage on all different kinds of insurance products.

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