Wednesday, September 28th, 2022

Protecting dependents from the unexpected


An otherwise awesome financial plan can quickly fall to pieces in the event of the death or disability of an income earner. 

The purpose of life insurance is to protect the financial security of dependents in the event of the death of an income producer.  If you do not work for an income, do not have any dependents, or already have enough financial assets to ensure the security of your dependents, then you likely do  not need life insurance, although it may still be used as an estate or business planning tool. Life insurance can be much less expensive than you think.  For example, 20 year term coverage of $750,000 on both of a 30 year old couple in excellent health could be as little as $86/month.  For most couples, this would ensure that if either one was to die during the primary child rearing years the family should have lasting financial security.  We can provide life insurance quotes using a program which compares many of the insurance companies in Canada.

The purpose of disability insurance is to protect the financial security of you or your dependents in case you are unable to work and earn money. The probability of disability is much higher than the probability of death and it may recur several times. Disability insurance  is much more complicated than simple term life insurance. Since we broker life and disability insurance, we are able to help clients find the best insurance product at the best price, free of any of the restrictions forced onto agents who are employed by a single insurance company. Critical illness and health insurance are also available. Contact us for more information or a quote.