Life Insurance in Canada
Don’t Let Life Catch You Unprepared – Get Life Insurance Today!
Overall, the best life insurance product for an individual depends on their specific needs and financial situation. It is important to consult with a licensed insurance agent to determine the most suitable product.
Life insurance is a crucial financial tool that gives you and your loved ones comfort and financial stability in unplanned occurrences like death, severe illness, or inability. So, choosing the right life insurance plan for your needs, goals, and financial situation is essential.
In general, there are two main types of life insurance: term life insurance and permanent life insurance.
Life insurance is a legally binding contract that pays a death benefit to the policy owner when the insured person dies.
For a life insurance policy to remain in force, the policyholder must pay a single premium upfront or pay regular premiums over time.
When the insured person dies, the policy’s named beneficiaries will receive the policy’s face value, or death benefit.
Life Insurance
Living Benefits
Travel Insurance
Savings & Investments
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Myths and Facts
Myth: Life insurance is too expensive.
Fact: The cost of life insurance varies depending on your age, health, and coverage needs. In many cases, life insurance can be affordable and provide valuable financial protection to your loved ones.
Myth: I don't need life insurance because I'm young and healthy.
Fact: Accidents and illnesses can happen at any time, regardless of age or health. Having life insurance can provide financial protection for your loved ones if the unexpected happens.
Myth: I have life insurance through my job, so I don't need additional coverage.
Fact: Many employer-sponsored life insurance policies are not sufficient to meet the needs of your family in the event of your unexpected passing. Additionally, if you leave your job, you may lose your coverage.
Myth: Life insurance is only for people with children.
Fact: Life insurance can provide financial protection for anyone who has loved ones who depend on them financially, including parents, partners, and siblings.
Myth: I can't get life insurance because of my health.
Fact: There are many different types of life insurance policies available, and some may be more accessible to people with pre-existing health conditions. Additionally, some policies may not require a medical exam.
Myth: I don't need life insurance because I don't have any debts or dependents.
Fact: Even if you don’t have anyone depending on you financially, life insurance can provide funds to cover funeral expenses and other end-of-life costs, so your loved ones don’t have to bear the financial burden.