Notes

Buy the Right type of Life Insurance
A recent survey showed that, while 89% of Canadians agree that life insurance should be part of sound financial planning, only 40% said they might know what to watch out for in buying policy.

Exactly get more info showed that 32 percent of Canadians felt these were under-insured. Although experts recommend at least six times your annual revenues, the average amount owned by insured individuals is $142,000.

How many years of family income would that protect in your case? What would your family do once your insurance money was gone? Purchasing the right kind of life insurance coverage is among the best ways to protect your family's future. As you take into account the options, understand that buying life insurance is similar to buying any other consumer product - your goal is to get the cost effective for your money.

Your life insurance purchase can seriously affect your family's security is you die, as well as your quality of life as long as you're alive.

Three points to consider:

1. Quality lifestyle: In the event of the untimely death of either spouse, a wise insurance purchase often means the difference between maintaining the family's current standard of living and financial disaster for all those left behind.

2. Long-term goals: Inadequate protection may leave your family vulnerable. The survivors may have to drain savings to cover burial along with other expenses, which could seriously affect long-term goals just like a university education.

3. Retirement Income: By lowering your insurance cost, you release dollars, that may be better used to build cash reserve for future years.

People don't "need" life insurance- it really is something they want to buy. It is all about how much you value everything you have built and whom you're leaving behind. If you want to provide a safe future for the loved ones after you are gone, life insurance is a very good option.

Piri D. get more info am in my mid thirties, happily married and mother of three amazing boys. I have made nearly every major money mistake out there by lacking the right information. I'm a debt reduction champion with a passion for showing individuals how to budget. I currently work in the finance industry providing financial advice helping people make smarter financial choices while still working, and help those people who are preparing for retirement to establish a plan that will provide the lifestyle they need to live with dignity. I take an educational approach to help people understand about their financial plan and the financial products they have work for their best.

For more info check out my website: http://www.thefinancialpower.com
My Website: https://www.ted.com/profiles/43263065