43% of Canadians do not have any personal life insurance coverage at all!
As a life insurance broker licensed in BC, I have the privilege to choose who I partner within finding the best and most cost-efficient solutions for my clients. Each life insurance company has different strengths or areas they focus on and over years of doing research and asking lots of questions; I have picked the best of best solutions for my clients. So, whether you are looking for life insurance, critical illness, disability insurance, or other life insurance solutions like investments I can help you. Please reach out to me and I can provide guidance and implement the best options for you.
The Canadian statistic on how many people actually have personal life insurance, or put another way who don’t have any coverage at all shocks me…43%! Far too many individuals have no coverage, but over the years I have discovered that many people have the wrong coverage or they are under-insured.
Life insurance is one of the key pillars of a solid financial plan. Why? Most Canadians cannot build up enough assets over there lifetime and we are carrying record debt levels that leave individuals and families very vulnerable in a financial crisis or an unexpected death. Based on age, gender, and lifestyle a person can have half a million or even a million dollars of coverage for often less than the cost of a couple going out to two meals a month. So, it is not a case of affordability, but a case of priority.
Not only does life insurance provide a TAX-FREE payout in most cases in less than a month and it also stays outside of your estate (very important). Life insurance is also a very powerful tool to build wealth tax efficiently and create income for your later years. When I do seminars on life insurance, I cover many important facts that are often overlooked. “Why Life Insurance and Your Four Options”.
- Why life insurance and your four options?
- Understanding your biggest risk to your income, and affordable solutions.
- Do you really want to retire? Structure your estate properly.
- What is wealth and how to protect it? Understanding market cycles (very important) and proper diversification.
- Why most Canadians need physical gold and silver in their portfolio.
- Cryptocurrencies, a new asset class, and why they are important.
- Create a private pension plan (PPP), better than RRSP’s and IPP. (for business owners and professionals who are Incorporated)
- Passive Investments vs Active Managed…does it matter?
- More in the pipeline…any suggestions?