Posted by AbsoluteMortgage.ca on May 12, 2021
WHO NEEDS LIFE INSURANCE?
If you have anyone who depends on you financially (children or spouse), life insurance is a really good investment.
Have a mortgage or other debts that your loved ones may end up bring responsible for if you die? Get life insurance.
For younger adults, life insurance may be even more important because you likely haven’t amassed enough savings to cover future expenses, like your child’s education, your burial or funeral costs, unexpected medical expenses and so on.
WHAT TYPE OF INSURANCES ARE THERE?
Term Life insurance
Permanent life insurance provides coverage for life and allows you to earn tax-deferred cash. It remains in effect for as long as you pay your premiums. This type of insurance is usually more expensive than term life insurance and can come in three different types:
IS THE INSURANCE PROVIDED BY MY EMPLOYER ENOUGH?
The costs of buying into an employer life insurance plan are pretty minimal, but it may not be enough to cover your specific needs. Take a look at what you’re actually covered for and decide if that will be enough to protect your loved ones for five years. If not, you may want to consider buying additional insurance.
WHERE CAN I GET LIFE INSURANCE?
Call or email and I will provide a no obligation quote.
Source: Quantus Mortgage