Do you have loved ones that would be financially impacted if something happened to you? If you answered ‘yes’, it’s time to consider how you can ensure protection of your loved ones with life insurance.
Life insurance is a lot like your home, auto, or business insurance—it’s an agreement between you and an insurance company. But instead of covering items, it covers your loved ones by providing them with a tax-free lump sum, known as a death benefit. Your beneficiaries can use this money however they need, whether it’s paying off debts, covering daily expenses, or maintaining a lifestyle.
Common uses may include:
If there is someone in your life that would be impacted by your death – either financially or from provided care – you need insurance. This includes your partner, children, your parents and siblings – anyone close to you.
You might have a mortgage, other debts, or future education costs to think about. And don’t forget funeral expenses and taxes (when the time comes.) Proper life insurance planning can cover all of these.
| Term | Permanent |
|---|---|
|
Specific period (10, 20, 30 years) |
Lifetime coverage |
|
Temporary, with the option to upgrade |
Long term with accessible savings |
|
Lower cost + budget-friendly |
Higher cost + financial safety net
|
Life insurance, especially while you’re young, can be more affordable than you think! For less than a cup of coffee a day, you can secure protection for your loved ones and cover much larger expenses, such as education, mortgage, childcare and more!
Premiums vary depending on the type of insurance you select, and other factors such as the amount of coverage you require, your age, birth sex, smoking status and medical history.
Getting your personalized quote is easier than you might think, and only takes a few minutes!
Your questions, asked and answered by our team.
Life insurance provides financial protection for your loved ones, helping them cover expenses like debts, funeral costs, and future living expenses in case something happens to you.
The amount depends on your personal circumstances, such as outstanding debts, future expenses (like education or mortgage), and your family’s financial needs. Many recommend getting coverage that is 5-10 times your annual income.
Most life insurance policies have a grace period, typically around 30 days, allowing you time to catch up on missed payments. If you don’t pay within that window, your policy could lapse, meaning you lose coverage.
Yes, many policies offer the flexibility to adjust coverage, such as increasing your benefit, converting a term policy to a permanent one, or adding riders for additional coverage.
No, a full medical exam isn’t required, but you will need to provide a detailed medical history as part of the application process. This helps us determine the best coverage options for you.
Working with a broker guarantees your access to the best available insurance with the added benefit of personalized support. See for yourself and get a quote now.
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