When we took a vacation in South America recently, my husband and I made sure to take out extra travel medical insurance. Although we have some coverage through both of our work plans, it just made us feel safer. We have the same attitude towards our life insurance.
Three years ago when our second child was born, we worked with a financial adviser to update our coverage. We added to our
Canadians are among the
But life insurance is also one of those areas of your family budget that it pays to get right. Too much insurance, or insurance that doesn't match your needs, could cost you thousands in unnecessary fees.
I found a helpful calculator on the website of insurance adviser
My husband and I are confident that should the unthinkable happen, we now have the right mix of life insurance. But there are other types of insurance out there. If you're under the age of 65, statistics show that that you're less likely to die than suffer a debilitating injury or sickness. Disability and critical illness insurance are designed to cover expenses during these unexpected events. As much as we hate to think about it, we're looking into both.