Notes

Buy the Right Kind of Life Insurance
A recent survey showed that, while 89% of Canadians agree that life insurance ought to be section of sound financial planning, only 40% said they would know what to search for in buying policy.

The same survey showed that 32 percent of Canadians felt they were under-insured. Although experts recommend at least six times your annual gross income, the common amount owned by insured individuals is $142,000.

Just how many years of family income would that protect in your case? What would your loved ones do once your insurance money was gone? Buying the right kind of life insurance is probably the best ways to protect your family's future. As you consider the options, keep in mind that buying life insurance is similar to buying any consumer product - your goal is to get the best value for your money.

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

Three points to consider:

1. Quality lifestyle: In case of the untimely death of either husband or wife, a wise insurance purchase can mean the difference between maintaining the family's current quality lifestyle and financial disaster for all those left behind.

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

3. Retirement Income: By cutting your insurance cost, you free up dollars, that could be better used to create cash reserve for future years.

People don't "need" life insurance- it is something they would like to buy. It is about how much you value what you have built and whom you are leaving behind. If you want to give a safe future for the loved ones once you are gone, life insurance coverage is a very great option.

Piri D. I am in my mid thirties, happily married and mother of three amazing boys. here 've made nearly every major money mistake on the market by lacking the right information. I'm a debt reduction champion with a passion for showing individuals how exactly 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 which will provide the lifestyle they have to live with dignity. I take an educational method of help people understand about their financial plan and the financial products they have work with their best.

For more info have a look at my website: http://www.thefinancialpower.com
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