You can get life insurance that’s right for you by following these tips today
Buying life insurance for the first time is a big decision. Finding coverage that’s right for you can help take care of your loved ones if you’re no longer there.
Life insurance is essential at any age and there are key advantages to starting early.
You can use these helpful tips today to make the process easier.
Remember why you need insurance
Insurance can help financially protect those you care about when you’re no longer there to support them. It means there could be money when it’s needed the most, so your loved ones can spend more time helping each other through a difficult time, and less time focused on how to pay the bills.
Cover everyday living expenses
Keep the family home
Fund an education
Life insurance that’s right for your needs and budget
There are two kinds of life insurance:
To start, add up your:
Monthly household expenses – groceries, bills, mortgage, loan payments, etc.
Planned expenses – RRSP or contributions to your children’s education, for example
Expected one-time costs – funeral expenses
Don’t forget to insure your health
Did you know you’re much more likely to experience a serious illness or injury before you retire than you are to die? Ask yourself: if you were too sick or injured and couldn’t work for a while, would you need money to support yourself and your family? If your answer is yes, critical illness and disability insurance may be valuable additions to your financial plan that can protect what you’ve planned for and help ensure your loved ones are taken care of.
The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature, and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.
Jago Financial Inc
1095 W Pender St #1188,
Vancouver, BC V6E 2M6
(Courtesy of Canada Life)