5 Signs You Don't Need Whole Life Insurance!Aug 04, 2021
1. You are not in the top tax bracket.
2. You have plenty of TFSA and RRSP contribution room.
3. You do not have excess cash lying around on a regular basis.
4. You are not a business owner.
5. Your risk tolerance is higher than low.
If you check most of these boxes, 𝙥𝙡𝙚𝙖𝙨𝙚 𝙙𝙤𝙣'𝙩 𝙬𝙖𝙨𝙩𝙚 𝙢𝙤𝙣𝙚𝙮 𝙤𝙣 𝙗𝙪𝙮𝙞𝙣𝙜 𝙖𝙣 𝙚𝙭𝙥𝙚𝙣𝙨𝙞𝙫𝙚 𝙬𝙝𝙤𝙡𝙚 𝙡𝙞𝙛𝙚 𝙥𝙤𝙡𝙞𝙘𝙮. You are better served to buy a cheap term insurance policy and invest the rest in a liquid investment (i.e. mutual fund in your TFSA account) that you can access the cash in.
*𝐨𝐭𝐡𝐞𝐫 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐬𝐚𝐥𝐞𝐬𝐩𝐞𝐨𝐩𝐥𝐞 𝐩𝐮𝐧𝐜𝐡𝐢𝐧𝐠 𝐭𝐡𝐞 𝐚𝐢𝐫 𝐫𝐢𝐠𝐡𝐭 𝐧𝐨𝐰*.
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