o/a Ratehub.ca & CanWise Financial is a licensed mortgage brokerage and CMHC-approved lender. Ontario Mortgage Brokerage #12530, Quebec Ratehub.ca Mortgage Brokerage Firm #3001931116 - Ratehub Inc. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. However, not all products we list are tied to compensation for us. For complete and current information on any product, please visit the provider’s website. Partners/Advertisers are not responsible for the accuracy of information on our site. The content provided on our site is for information only it is not meant to be relied on or used in lieu of advice from a professional. Product information and details vary for Quebec. Terms and conditions apply between you and the provider of the product - please be sure to review them. What Happens to Your Life Insurance Premiums if You Start Smoking?Ģ0 Queen Street West, Suite 1100, Toronto ON M5H 3R3 | 1.866.988.6324ĭisclaimer: Financial institutions pay us for connecting them with customers, including by paying for advertisements, clicks, or when someone applies for/is approved for a product.When to Buy Both Term and Permanent Life Insurance.6 Times When You Should Review Your Life Insurance Coverage.Get your custom life insurance quote by completing this form. But in the long run, the benefits will far outweigh the risk of not having insurance.ĭan Poole is the co-founder and chief operating officer at Invisor. Being responsible and protected requires a little effort and investment. Shopping for insurance requires a similar decision, as well as making your future self’s well-being a priority. Why wouldn’t we find time when it comes to taking care of our future and that of our loved ones? We’ll pay for other people to do work we don’t have time-or want-to do ourselves, whether it’s cleaning the house or mowing the lawn. We make time to do the things in life that matter to us, like exercise, volunteer, get medical and dental checkups, etc. We all know that time is made, not found. If you find one you’re considering working with, ask them for references.ĥ. If you work with financial professionals like accountants or lawyers, chances are they have trusted insurance contacts in their networks because they often deal with more complicated tax and estate planning needs. Ask a friend, family member, or even your employer if they can recommend someone. If you haven’t met one you like or trust, keep looking. There are thousands of licensed insurance advisors in Canada. You might be surprised at how little you’ll have to pay to get coverage that’ll suit your needs. People are living longer and are healthier than ever, which the insurance companies call “improvements in mortality and morbidity rates.” That means that many insurance policies have actually fallen in price over time. Insurance only gets more expensive the longer you wait to buy it. The cost can be as little as a cup of coffee per day, especially if your needs are fairly basic. The best time to buy insurance is when you’re young and healthy. But if you’re still confused, look for an advisor you’re comfortable with and who’ll take the time to explain it to you in terms that are easy to understand. There are plenty of resources available on the internet to help you learn all you need to know about insurance. Well, maybe it’s a little more complicated than that, but not by much. Your loved ones will get a large amount of money back if something bad happens to you. I don’t understand it and it’s too complicatedĪctually, it’s pretty simple! By paying an insurance company small amounts on a regular basis, you’re buying peace of mind. The best time to buy insurance is when you’re young and healthy, which is also when it’s the most affordable!Ģ. Unfortunate events like accidents or illnesses can have expensive, long-lasting consequences. While this isn’t meant to frighten anyone, there’s no denying the uncertainty of life. The truth is that you never know what could happen. Young people often think they’re invincible or that statistics are in their favour. Unfortunately, bad things do happen to young and healthy people more often than we like to believe. Here are five lame excuses for not being insured and the truth behind each one:ġ. So why are Canadians still typically underinsured? What do these things have in common with buying life insurance instead of putting it off? Research shows that people get the same feeling of satisfaction knowing they did the right thing rather than choose the easier option, even if it meant there was a little extra effort involved. Going to the gym instead of crashing on the couch, having a side salad instead of fries, or taking public transportation instead of driving.
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