Just bought a home? Now it’s time to get life insurance for your mortgage. Here’s what you should know about choosing the right policy and term.
7 in 10 Canadians have an unplanned retirement, according to SunLife Financial. Are you prepared to leave the workforce early?
The concept of insurance is simple – pay a little bit now and know you and your family will be financially covered later on. But what if you’re already sick, living with a chronic condition, or discover you’ve somehow voided your coverage? This week’s Money Wise guide is all about the insurance questions you were afraid to ask.
Your dad’s always got your back – and a recent RBC study finds this plays a large role in the type of life insurance fathers prefer.
Not sure of your life insurance needs? Insurance can be bought to provide coverage for a number of reasons. Some insurance consumers are looking to provide income for loved ones in case they should die, while others want to cover ongoing financial commitments such as a mortgage or tuition. Others are looking to add to their financial assets and build equity over time.
Life insurance is financial coverage that pays a specified amount of money to a chosen beneficiary upon the death of the main policy holder. The face value of the insurance policy is paid by the insurer in exchange for regular payments over the insurance term, referred to as premiums.
Life insurance is vital to ensuring your loved ones will be financially safe for years to come. Finding the best coverage, however, is not a one-size-fits-all solution. Read on for ways to assess your personal and financial needs when choosing your insurance.