Toronto Life Insurance Brokers Help Families Become Financially Stable

The concept of life insurance is pretty basic—it exists to ensure that your family has what it needs should you—the income earner—unexpectedly pass away. MoneySense presents some facts on how Canadians view life insurance and sheds light on the fact that a lot of people don’t really know much about what they actually have and a full 30% don’t have any life insurance at all.

Isurance Dads

From Article in MoneySense:

“Some 70% of Canadian fathers have life insurance though 40% have no idea what their policy is worth or how much their families will need, says RBC. As for the 30% without coverage, nearly half said they have enough other streams of income to support their family.

A full one-third of Canadians belonging to Gen Y find it nearly impossible to save, according to a new poll for TD Canada Trust. Education costs, low salaries, debt and shopping are bigger obstacles for Gen Y compared to when Boomers were in their 20s. “There is no question that the job market is tighter, university costs higher and salary growth lower for young people today,” TD’s Raymond Chun said in a release.”

If you have questions about what type of life insurance you currently have and whether or not it is adequate contact a reliable life insurance brokers in Toronto for a full review of your policy. There is no obligation to avail of this free service offered by insurance brokers like Insurance Advantage. If you currently don’t have any Life Insurance and you need information about what is available and what it would cost, get a FREE QUOTE and see if it fits into your budget. If you wait too long, or if you don’t have enough coverage, you leave your family vulnerable to financial hardship in the event you are no longer there to provide for them. If you think you should forgo purchasing a policy until you’re older, know that premiums tend to increase as you age, so buying sooner rather than later will save you money.

When deciding on the amount of coverage needed a trusted Toronto life insurance broker like Insurance Advantage can quickly determine the amount you need, what type you should buy, what it will cost per month and with input from you whether or not it will comfortably fit into your budget.

(Source: Insurance for dads, MoneySense, June 11, 2013)