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When Do I Need Life Insurance

By January 14, 2020 May 27th, 2021 Advisor, Blog, Consumer
when do i need life insurance

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Following you through life stages – here’s why you should consider life insurance. Which one is you?

Single – do I need life insurance?

Do you have outstanding debts which a parent or someone else may be held responsible for?  Do you have a sibling or even a parent that depends on you?  Do you have a favourite cause or charity that you want to leave something to? Another good reason to purchase now vs. later is the younger you are –  the better the life insurance rates are.

Married, two incomes and no children – do we need life insurance?

As you are both pooling your resources and dividing up expenses – with suddenly having just one income, will this be enough to pay off debts like student loans, outstanding credit card bills, car payments, rent or mortgage and utility bills?

I /we have a young family – do we need life insurance?

Could your family continue living the way they are now and in the future on one income? As well, taking into account the additional cost for childcare, along with the support needed though no “hard cost” is associated today, these expenses could be incurred in a one parent household.  From mortgage to secondary education would your family’s financial security be jeopardized? If yes, then a life insurance policy is essential.

Retired empty nesters- do I/we need life insurance?

From estate taxes to covering final expenses and ensuring that there will be no negative financial impact should you die; a life insurance policy and its tax-free benefits can look after this and provide peace of mind for you (and your family). If someone will suffer financially when you die, then the simple answer is yes, a life insurance policy will most definitely make a difference.

Speak with your advisor or contact Canada Protection Plan for a no-obligation quote today.
To learn more about Canada Protection Plan and our line of comprehensive No Medical and Simplified Issue life insurance solutions, call Broker Services at 1-877-796-9090 and we will be happy to assist you or put you in contact with Sales support in your region.

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Pour en savoir plus sur Plan de protection du Canada et sur sa gamme complète de solutions d’assurance vie sans exigence médicale et à émission simplifiée, communiquez avec les personnes-ressources des Services de courtage au 1 877 796-9090, qui seront heureuses de vous aider ou de vous mettre en contact avec l’un de nos soutiens aux ventes dans votre région.

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