Updating Your Life Insurance Policy Jan 19th

All about Canadian insurance. Learn the ins and outs and get the latest news.

Latest News

Gen Z Canadians face job losses—but time is on their side Feb 5th

Statistics Canada has released new employment insurance (EI) data, and it doesn’t look good for Canadian workers. In the year ending November 2025, the number of people receiving EI rose by 16.1%. Among young Canadians aged 15 to 24, the increase was 12.4%. While this group wasn’t hit the hardes.... More »

“I discovered water damage in my home. Will insurance cover me?” + MORE Jan 27th

Q: My washing machine has been leaking for years and we only just learned of the leak and the resulting damage because of staining on our basement ceiling below. Will my home insurance cover this? –Alison A: The end result of water damage is almost always the same—repairs to your floors,.... More »

Cost Management Strategies for Canadian Group Benefit Plans May 12th

The cost of providing comprehensive benefits continues to rise. Managing group benefits effectively is critical for employers in Canada. The need to find balance between offering appealing group insurance to employees and maintaining financial sustainability is not easy. Here are some innovative co.... More »

Should seniors cancel their life insurance policies? Dec 15th

Ask MoneySense My husband is about to turn 60 and we have to make a decision to continue with a life insurance plan or to let it go. We no longer have a mortgage, and we are in process of taking care of our own funeral arrangements, so our kids don’t have to worry about it. I’ve been retir.... More »

Tech Entrepreneur Lauryn Vaughn Is Changing the Resale Fashion Game Jul 15th

My entire career has been about using technology to sell upscale consignment clothing. But my starting point was in traditional fashion: When I was a commerce student at the University of Calgary, I landed an internship with the designer Paul Hardy. That was my introduction to retail behind the scen.... More »

Updating Your Life Insurance Policy

– life-insurance-quotes.ca

A life insurance policy is instrumental when it comes to protecting your family and providing for them financially in the event that one or both parents pass away.
How much coverage is required depends on many different factors. Simply put, when a person dies , that person’s estate (consisting of assets minus liabilities) when combined with the life insurance payout, should cover all outstanding debts and also provide for a desired standard of living for the surviving dependents for a given amount of time.
What many Canadians fail to do is update their life insurance coverage when major life changes occur.
The following events should be considered when recalculating how much life insurance coverage you need:

Selling and/or purchasing a property.
Major changes in credit card debt.
Any monies that are inherited.
Changes in marital status.
Changes in employment status.
The purchase of new vehicles.
The birth of children.
Dependents that incur student debt (or conversely, getting rid of existing student debt)…

Continue Reading On life-insurance-quotes.ca »

Not sure what the best Insurance policies in Canada are? Be sure to get the best advice possible – Visit our Insurance page for details.

Share