Talking to your loved ones about life insurance
Many Canadians don’t realize how great the need for life insurance is. It’s a hard question to ask, but would your loved ones be able to cope with debt, mortgage and child care payments, on top of basic financial needs, without you or your partner?
Having an open and honest discussion can help you through the toughest times.
- You or your partner passes away?
- One of you is diagnosed with a critical illness?
- You or your partner is unable to work due to injury or illness?
Here are a few questions to discuss:
- Do you have a mortgage?
- Are you currently carrying debt?
- When you consider your current savings, would you need additional financial aid to see you through the above situations?
- If you have life insurance through work, would you need additional coverage to pay your debts and other obligations?
- Do you have dependents? Could you cover their financial needs now and in the future?
If you answered yes to any of these questions, you might benefit from a consultation with a Financial Advisor. They can help you find the right plan for your future.