If the past 6 months has taught is anything, it’s that you can never be too prepared for the unexpected. For many of us across Canada, that has meant taking a hard look at the emergency response plan we have for our families and our futures. We think that plan should include some form of individually owned life insurance.
Thinking about buying life insurance can be overwhelming – especially when it’s your first time. There are a lot of choices out there and many factors to consider. Our goal is to make your insurance shopping experienc
e as painless as possible. To help ensure that you navigate your journey successfully, we are going to share a simple tip every Tuesday during September to get you started.
Without any further ado, let’s get started with our first tip.
Tip of the week #1: Answering the question “Why do I need life insurance?”
It may seem obvious, but step 1 is answering the question “why do I need life insurance in the first place?” Typically people feel the need to get insured after a major life event like getting married, buying a house, or having a baby. Some people, former Girl Guides and Boy Scouts no doubt, simply want to be prepared for the unexpected.
Even if you don’t have an immediate need for life insurance, your goal might be to keep your financial options open with a smaller policy today that you can build on down the road. The logic being that your coverage is most affordable the younger and healthier you are. This is key reason that children’s life insurance is so popular. If you want to know more about life insurance for kids, check out this short video.