Life Insurance
Life insurance is necessary to provide financial stability for your family members, so they may maintain the lifestyle you’ve afforded them to living. Many Canadians may be considered underinsured when it comes to life insurance. When you reflect on all of the things your life insurance benefits need to pay for, and how long the money will be needed, the right amount may be 10-20 times your gross annual income.
We encourage all IBOs, whether you are full-time or part-time, to take advantage of our IBO Insurance Benefits Program. When deciding to purchase life insurance for you and your family, the following life situations should be taken into consideration to help you provide the necessary coverage:
Single. Many single adults need to afford all of the expenses for living a comfortable life all on their own. They may even provide financial support for aging parents. Purchasing life insurance can help make the financial obligations you leave behind easier for your family members.
Married or Getting Married. Most families depend on two incomes to make ends meet. Plan ahead to make sure you provide enough money for your spouse to cover all living expenses and debt, so he/she can continue to live a comfortable life without financial hardship.
A Parent or Expectant Parent. Raising a child is rewarding, but expensive. Plan ahead to make sure you provide enough money to cover all of the costs needed to raise a child, including day care, a college education, and all other activities your child may be involved in during their growing years.
Buying or Owning a Home. Plan ahead to protect your investment and alleviate any disruption in your family needing to find a new, less expensive place to live. Adjusting to life without you will be hard enough, don’t place added financial stress by trying to afford a home and maintain the lifestyle you helped them afford.
To learn about the plan benefits, rates, and to complete an application for our Life Insurance plan, please click on the link below.
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