Let’s start with better questions.
Are you in a committed relationship? Do you have children?
Do you have living parents?
Do you care about a charitable cause?
And what if you are single?
When you are in a committed relationship and /or have children, you are making a promise to take care of them.
After something unfortunate happens to an income-earning loved one, the surviving family member suddenly finds themselves left with bills that continue:
- kids education, mortgage payments, property taxes
- groceries, transportation expenses
- funeral expenses and taxes on death
I understand it can be really hard to imagine the unhappiness and the financial hardship without you in the picture.
However, it is much easier to imagine your loved ones knowing you cared so much for them, that you had already made plans to provide for their well-being with a gift of a Life Insurance Policy.
You convey a message telling them they can still have what you wish for them to have, with a lump sum tax-free payment from the Life Insurance Policy.
With advances in medicine people are living longer and with rising cost of living there is a possibility your parents may not have tucked away enough for their retirement years.
Whether you are single or not, have a talk with your parents and ask them how much more would make a difference in their retirement.
A life insurance is a cost effective way to show them you care, in case you are not around to help them.
Before you put off a decision for life insurance, ask yourself this – Is it a good time to buy an umbrella before the rainy season or to look for one when you caught are in the rain?
Take a moment to talk to an Insurance Professional of your choice, with no obligation to buy. It can be one of the smart decisions you make.
Not tomorrow, but yes- Today. Why? Because you can look forward to a better deal by locking in a good rate with your age and health today.
For example. A $250,000 life insurance policy for age 32 female non-smoker is only $18.47/month* and age 42 female non-smoker is 30.05/month*
- with every passing year you are a year older. Cost of insurance increases with age.
- with every passing year you may experience more health problems and higher the chances of being un-insurable.
By deciding today you can guarantee your insurability in the years to come.
*Note: For the quote in this example I randomly picked an Insurance company from a list of Top Canadian Insurance providers I deal with. Quoted a 20 year Term product on Apr 22, 2013.
Content Disclaimer
Material discussed is meant for general illustration and/or information purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.