The most common reason people buy life insurance is to provide financial protection for their whole family. Family protection insurance is one such option. as it insures your entire family. These types of policies are usually mindful of cost, and are specifically designed for young families. Typically these plans are variations on term life assurance, meaning that after a set number of years your policy will expire, but with some additions that are specifically designed for families.
A typical family life insurance policy protects both parents, plus adds some additional coverage for children. The coverage on children is usually provided at no extra cost, and is intended to offset the costs of final expenses, if they were ever to be required. Also unique to family protection insurance is that the policy usually pays an extra lump sum on top of the death benefit if both parents were to die. A policy that protects your entire family can be a great option for anyone with young children that is just starting out.
Being a responsible provider means that even if you were to die, that your loved ones would continue on the path you’ve worked so hard to create for them. When you begin to shop for a life insurance policy, it is easy to become overwhelmed with the sheer number of insurance companies competing for your attention. At LifeCover.ca we specialize in helping Canadians get life insurance through our network of independent brokers. You owe it to yourself and your family to get protection, and there is no easier way to start than with LifeCover.ca.