I’m only 28 years old and I never get sick. Why would I buy insurance now?
In the years I’ve been working as an insurance advisor, I have helped clients work through hundreds of questions about their insurance needs. But one of the most common questions I get is “I’m only 28 years old and I never get sick. Why would I buy insurance now?” Actually, this is the best time to get insurance. The younger you are and the healthier you are, the less expensive your insurance will be. In fact, the premiums you pay on a policy you obtain in your 20’s and 30’s (assuming you are healthy) can be less than $40 per month. As well, with many plans, you can secure your low rate for years to come by purchasing insurance and...
What is Critical Illness Insurance?
This is a pretty common question I get from clients. Many assume it is like the long term or short term disability plans they may be offered through their employer. In fact, critical illness insurance is quite different, although the critical illness plans work well with long term disability benefits. Most commonly, critical illness insurance provides you with a lump sum benefit benefit to help support you financially if you are diagnosed with and survive a covered critical illness. You can use it to augment your health insurance plan and any group disability coverage you may have. The lump sum can be used in a number of ways: Selecting different treatment options:In Canada, you can access medications and treatment that...
Don’t cancel your life insurance
It is totally fair to compare market rates and life insurance policies to ensure you are not only getting the best rate, but also the best coverage. However, it is crucial to not cancel your life insurance plan until you have another plan fully lined up and paid for. The last thing you want is to somehow get denied on your new plan and be without insurance, even if it is only for a short period of time.