Living in Ontario?

Your life insurance can serve a broad array of purposes however, it is often the high cost of a funeral that motivates many Canadians to invest in a life insurance policy. No one wants to leave their loved ones with the financial burden of covering funeral costs, particularly in their time of grief. The average funeral cost in Ontario is $8500. Other than covering final expenses, below are some of the other top reasons why many choose to invest in a life insurance plan:

• Protect loved ones who rely on your financial support.
• Cover education expenses for your children. The average Ontario university tuition is close to $9000.
• To replace the income of a spouse. This does not apply solely to the breadwinner; in many cases, if a stay-at-home parent dies, there is a significant cost involved in securing childcare and/or help with domestic tasks.
• Protecting your family from assuming your debts, such as mortgage, credit card debt, or car loans.
• Known for our strong spirit of giving, many Canadians opt to designate a portion of their life insurance payout to a charity or non-profit.

An appropriate amount of life insurance coverage would allow your loved ones to continue their standard of lifestyle, even when your income is no longer available. This is calculated based upon your current monthly expenditures, your present and probable future incomes, the unique circumstances of your family, as well as the level of premium that you can afford to pay.

Check out our Insurance Calculator to estimate how much life insurance you need, in just three easy steps.