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...
Be honest, when’s the last time you slowed down?
Hear me out. Maybe you started your business 15 years ago with a couple of shovels and a beat-up truck, a laptop and a dream, or using your kitchen as Grand Central for your shipping operations. Although it still might feel like you’re...
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...
Life insurance is always more expensive tomorrow than it is today! You can buy your newborn an awesome policy that will change their financial stars forever for less than maxing out their RESP costs.
There is no physical; applying is easy, and it is a GREAT way to divert grandparents’...
Almost everyone needs insurance - seriously! **Almost** anyone...
The 4 situations where insurance is not necessary are:
. π΅π πππ π
πππππ
π ππ πππ πππππππππππ.You do not have kids or other dependents that would have a tough time surviving financially if you were not around to help them.
...
Yes! You can buy a Tesla, a swimming pool, or a collection of lawn figurines from the '80s online, why not life insurance?
We don't sell it online, but if you are comfortable doing everything electronically, I would recommend PolicyMe (www.policyme.com). I have never bought from them, but I...
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΄...
πππ πππ§π π’ππ£ππ’πͺπ’: enough to cover all of your current debts if you were to die.
πππ π’ππ: all of your debts plus 7 to 10 times your gross salary. This money would create an income stream for your family to replace your paycheck.
πππ π§ππππ© ππ£π¨π¬ππ§: somewhere between those two that fit your...
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.
...
Here's the skinny, most people do not need expensive permanent life insurance, cheap term insurance will do just fine.
If you are buying life insurance to cover your debts or replace your income, you only need term. Term insurance is ten times (or more) cheaper than a permanent life insurance...
**πͺππ₯π‘ππ‘π**
This is borderline too insensitive to write, but I think it is important enough to risk offending some. I mean no harm, nor to be overly dramatic - but let's talk!
It breaks my heart to see a fundraiser for a family that is left behind because someone died unexpectedly. Sadly we...
