Personal insurance is designed to protect you and your family. It meets these needs by offering a wide range of products specifically designed to cover everything you’ve worked so hard for. Personal insurance includes everything from home and vehicle insurance to protection for your health and coverage for your life.
Who Needs Insurance?
Not everyone needs insurance. It’s the truth and because our focus is on consumer protection we are happy to provide it. But there are those that can definitely benefit from certain insurance products. As a thought exercise, imagine the impact that not having something in your life would have. As an example, imagine your life without a car. Some may assume it is a necessary component and couldn’t imagine life without it, but alternatives exist. You could take a bus, ride a bike or carpool. The point being that a car isn’t an absolute necessity. Now take your ability to make an income and ask yourself how much that is worth. It’s probably more difficult to see the alternatives.
Personal insurance answers these types of questions. It answers them in the form of life and critical illness insurance. Take the aforementioned example of losing your ability to make an income due to serious illness. Instead of piling on the additional stress about how to pay your mortgage or costly medical bills you can instead concentrate on healing.
How Much Insurance?
When deciding on what to insure and for how much there are a few basic guidelines. For straight forward types of insurance, like vehicle or home insurance, simply dropping in to your local insurance agency is all that is necessary. Insurance advisors will guide you through the process as the rates are based on easily quantifiable items. A car’s value is based on its year, type and model. Depending on the specifics of your policy you’ll be walking out the door in 20 minutes.
What is not as straight forward are insurance products which base their premiums on many more factors. For example, life insurance (although somewhat straight forward) still involves going over your current needs and financial situation to determine the type of policy and how much you need. Insurance companies also want to look at your general health and the risk they take with insuring you. On top of all this, there are multiple types of life insurance and over one hundred companies which offer it in Canada alone.
We Make It Easy
Often times the biggest factor holding people back about getting life insurance is they don’t know where to begin. The internet has been a great resource, but unfortunately cannot substitute the advice of a licensed professional advisor. Although the stigma persists thanks to the media, insurance and financial advisors aren’t pushy salespeople. In fact, Canadian insurance brokers are licensed professionals who base their service and reputation on finding you the most appropriate coverage.
LifeCover.ca understands our place. Although we provide important information about personal insurance, we also understand that there is only so much the internet can do. We are no substitute for the advice gained from a professional advisor, especially as it applies to determining your own financial goals. That’s why we also help connect Canadians to professional advisors through our nationwide network of independent brokers.
Let LifeCover.ca help get you the coverage you need at a price you deserve by requesting a free comparison quote today.