An overwhelming portion of Canadians do not need whole life insurance. It’s expensive, complicated, and more difficult to apply for than its more approachable peer, term life insurance.
But for those who need it, boy is it a wonderful wealth building tool!
First, Term Insurance
Term...
Dying is an unpleasant thing to think about. It’s also inevitable. None of us are getting out alive. Selling life insurance is almost as awful. There are few products on earth as universally despised as life insurance. No one likes to buy it, no one likes to talk about it, and...
Name something else that you pay for just to hope and pray never to use it. Paying insurance premiums for anything stinks. Period.
But you know what stinks more?
Κα΄α΄Κ α΄Ιͺα΄ κ± Ι΄α΄α΄ Κα΄ΙͺΙ΄Ι’ α΄ΚΚα΄ α΄α΄ α΄α΄Κ κ°α΄Κ α΄α΄ΚΚα΄Ι’α΄ Ιͺκ° Κα΄α΄ α΄Κα΄ Ι’α΄Ι΄α΄.
Κα΄α΄Κ κ°α΄α΄ΙͺΚΚ Κα΄α΄ ΙͺΙ΄Ι’ α΄α΄ α΄α΄α΄ α΄ α΄Κ α΄ α΄α΄‘Ι΄ κ±Ιͺα΄’α΄ Κα΄α΄α΄α΄κ±α΄ α΄Κα΄Κ α΄α΄Ι΄’α΄...
Every single mutual fund that I like, that my clients are invested in, that my family’s money is invested in is boring. Κα΄ΚΚΚΚΚΚΙͺΙ΄Ι’! I love boring, it gets me up in the morning. Let me explain…
πΏπππππ πππ'π πππππ: Don’t chase your crush, fastballs high in the zone, or...
Yes! Totally.
If you are buying a simple term policy and you have someone at your bank that you enjoy talking to (and trust), do it! Bank insurance is better than no insurance - do it. Now.
Be weary of whole life/permanent policies that feel 'salesy' from your friends or network (you know...
Work coverage is great because it is cheap, you don't have to qualify for it - an absolute no-brainer. However, the average policy in a group plan is two times salary earnings (usually not including commissions or bonuses). If you make $100,000 a year, that is only $200,000 in life insurance.
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