Category Archives: Panel One
Life Insurance Coverage Amount
The average person in Canada does not have enough life insurance. Research shows that for those people who actually have life insurance coverage (about 30% of Canadians have no life insurance what so ever) $156,200 for insured individuals and $312,200 for insured households. Most life insurance experts suggest a minimum of 10 times annual income to provide a satisfactory amount of life insurance protection.
Canadian Mortgage Insurance
Reason #1 Generally, mortgage life insurance from most lending institutions is non-convertible term insurance – there is no cash value.
Reason #2 No premium flexibility.