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The best life insurance in Canada: your complete guide
– moneysense.ca
Get personalized quotes from Canada’s top life insurance providers.All for free with ratehub.ca. Let’s get started.*Life Insurance QuotesTerm LifeWhole LifeThis will open a new tab. Just close the tab to return to MoneySense.
This guide will show you:
What is life insurance? How does it work?
Do you need life insurance?
How much life insurance do you need?
What are the different types of life insurance? Which one is the best?
How much does life insurance cost in Canada?
Life insurance extras: Some other things to consider
Buy the life insurance: How Canadians can prepare
Is life insurance taxable?
When should I get life insurance?
How do I know how much life insurance I need?
Why should I shop for life insurance online?
Do I need life insurance if I already have mortgage insurance from my bank?
Do I really need to do a health exam to get life insurance?
Get personalized quotes from Canada’s top life insurance providers…
How to leave money to your grandkids
– moneysense.ca
How old they are can make a difference
If your grandchildren are over the age of majority and are responsible enough to receive an inheritance directly, they can be named as beneficiaries on a registered plan or of an insurance policy, or as beneficiaries in your will. (The best life insurance in Canada: your complete guide.)
If they are under the age of 18 or there are reasons that they should not receive their inheritance directly like a disability, substance abuse problems, or other concerns, their inheritance can be held in trust.
You can name a trustee in your will to hold assets in trust for your beneficiaries. An ideal trustee for a grandchild’s trust may be their parents and if you have grandchildren from multiple families, you could name different trustees for the different trusts…