Why Life Insurance Matters, At Any Age

Why Life Insurance Matters, At Any Age

In today’s world of skyrocketing mortgage rates, rising living costs, and the ever-elusive dream of homeownership, most Canadians are busy trying to make it through the month, let alone think about life insurance. But here’s the thing: life insurance isn’t just for “older folks” or those with dependents. It’s for anyone who has financial goals, a future to plan for, or loved ones to protect.

Let’s break it down by age group

In Your 20s or 30s?

You might be focused on paying down debt, building your career, or (maybe!) buying your first home. But this is actually the best time to get life insurance, it’s cheaper when you’re younger and healthier. Locking in a rate now protects your future self from rate hikes later on.

Bonus: If you're building wealth through real estate or investing, life insurance can help ensure those assets are protected and passed on.

In Your 40s or 50s?

You’re likely juggling mortgage payments, raising kids, and wondering how on earth your grocery bill got so high. Life insurance can serve as a safety net to make sure your family is covered, your debts are handled, and your long-term plans (like your child’s education or your partner’s retirement) stay on track, no matter what.

60+ and Beyond?

Maybe your mortgage is nearly paid off or you’re planning to downsize. This is the perfect time to think about legacy planning. Permanent life insurance can be a tax-efficient way to transfer wealth to your loved ones, or even cover final expenses, so no one’s left with the bill.

What’s Trending: Flexibility & Living Benefits

More and more Canadians are turning to life insurance with living benefits, which can support you if you face a critical illness or disability. With affordability top of mind, policies today are more flexible than ever, with options that grow with you and your financial goals.

The Bottom Line

Life insurance isn’t about fear, it’s about freedom. The freedom to live your life knowing that if anything changes, your plan won’t fall apart.

Want help figuring out what kind of coverage fits your life and budget?

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We can simplify the jargon and tailor a solution that works for you, whatever age or stage you’re at.

Disclosure Statement:

This document does not constitute an offer or solicitation by anyone in any jurisdiction in which an offer or solicitation cannot be legally made, or to any person to whom it is unlawful to make a solicitation. This document is for informational purposes only and does not provide advice, recommendations, or determinations of suitability in respect of proposed purchases or sales of any securities. Past performance is not indicative of future results, and there are no guarantees of any specific outcomes. Investing in securities involves risks, including the potential loss of principal. Prospective investors should carefully consider their investment objectives and consult with their own financial, legal, and tax advisors before making any investment decisions. This investment opportunity may be suitable only for accredited or qualified investors as defined by applicable securities laws.