Life insurance is one of the least fun things to think about which is why most people just keep putting it off or just get some insurance for the mortgage through their bank and figure that plus what I have at work will do. We really do not want to think that it might happen to us but there are few things in life that are more certain – the only question is when.
So you do you answer the questions of why should I have life insurance? There is no reason you should not have life insurance unless you have no debts, no dependents and no one who depends on your for financial support or might depend on your for financial support in the future. I will not forget the owner of a bakery who took out $350.000 of life insurance with his parents as the beneficiary as they were depending on him. His father worked in the bakery and really would have nothing if he passed. He was 24 years of age at the time and all are well still.
If you purchase the right kind of life insurance for your situation it can provide incredible peace of mind for you and your family knowing that in the unlikely event that your time came early, your family would have the money to continue.
My passion is for families. You are always hearing about people who have a flood or fire and they are heart broken and asking for help as they did not have any insurance. They have just lost some stuff. Think about the loss to a family of a loved one and their income for ever. That is what I mean by peace of mind and it is the job of an experienced insurance advisor to help you find the right insurance for your budget and situation that provides you and your family with this peace of mind.
For a few the question of why should I have life insurance takes a different direction. These people are looking to save taxes on death or pass wealth to the next generation on a tax favored basis but that is a different discussion. Contact us for help if that is something you are interested in.
The answer to the question of why should I have life insurance is different for everyone but for most it is simply a loving thing to provide certainty for your family going forward that their financial needs will be covered. We are here to have a conversation with you about life insurance and help you determine how much and what kind works best for you and your family. Call us at 1-866-238-9271 or visit us at life insurance Canada and get a few quotes to see how much you can purchase for a small amount of money.