Life Insurance – Don’t Delay in Protecting your Financial Future.

Life Insurance – Don’t Delay in Protecting your Financial Future.

All the stress and upheaval has made it so clear: unexpected things happen, and you can never be too prepared. So, make sure you have protected your financial future––without delay.

While not as ‘glam’ as other monthly celebrations, National Life Insurance Awareness Month is an important reminder that individually owned life insurance is an important part of emergency preparedness. Over the next three weeks, we will have a series of articles on this topic.

If thinking about life insurance feels a bit overwhelming, you’re not alone!

61% of Canadians have either no coverage or inadequate life insurance coverage. But it’s easier to choose the right policy if you get some expert advice.

You’ll want to ensure that you have adequately protected your assets and lifestyle, now and into the future. It’s a smart move in these uncertain times.

Different stages of life bring different needs. Young people typically check into life insurance after a major event such as getting married, buying a house, or having a baby.

However, even if you don’t have an immediate need for life insurance, build your financial literacy by knowing the advantages of taking out a policy—right now. Coverage is most affordable when you are young and healthy. You could start with a small plan and build on it as your life matures.

If you already have a policy in place, this month might be a good time to review its terms and your current life situation. Things may have changed a lot since you first purchased your policy.

For instance, do you have a larger mortgage on a bigger home? Are you facing new expenses such as a major renovation or education costs for growing children? Or is retirement approaching, along with a reduced income? Do you want to cover your estate taxes or leave a gift for your favourite charity?

Choosing the right life insurance is a big decision. A Permanent Policy can protect you for your whole life and cover your funeral expenses and final tax bill when you die. You could choose a Term Plan to protect against expenses that eventually will be paid off, such as a mortgage or education expenses. Or a combination of both.

Whether you have a family that relies on you for income, or the debts you carry must be paid should the unexpected happen, life insurance can be a great financial planning tool.

It only takes a few minutes with your financial advisor. If you don’t have one, let’s book a call.

15 thoughts on “Life Insurance – Don’t Delay in Protecting your Financial Future.

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