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Being a parent is life-changing in the best way
Being a parent is life-changing in the best way
A new life is in your hands. And with that life comes immense love and caring and endless adventure. It’s truly a wonderful experience.
 
Becoming a parent also brings great responsibility. That’s why so many people purchase life insurance when they have a baby.  After all, it’s said the number one reason to choose life insurance is when someone depends on you for financial support. And what can be more important when that “someone” is your own child?
 
What is your responsibility?
 
You are responsible for your child’s journey all the way until she or he becomes an adult. Looking at it from the financial side, think of everything that’s involved. Paying for daycare, the house your child’s raised in, food, clothing, vacations, summer camp, post-secondary education – and much more.
 
Your income, of course, pays for all of that. But to really get a good idea of how important that income is, try this. Multiply your annual salary by the number of years until your child completes college or university.  As a parent, that future income is something you must protect.
 
Protection for your family, peace of mind for you
 
If you’re like many Canadians, you’re starting a family at a time your savings plan is in the early stages. In other words, you don’t have a vast amount of investments that could support your family into the future. That’s what makes life insurance so important when you have a young child. The tax-free insurance amount would become an instant estate.
 
Life insurance is also for you. It gives you peace of mind knowing your family is taken care of, no matter what happens. And that security is yours from the payment of the first premium.
 
Do you have life insurance through your employer?
 
Having life insurance from a group plan at work is very helpful, but many plans only provide an insurance amount that’s one or two times your salary. And that’s not enough when you have a child to protect.
 
You might be allowed to purchase more group coverage. But there are many advantages to choosing your own personal life insurance instead. You get advice in person from a qualified professional, excellent value, and your coverage always stays with you – even if you change employers.
 
Fitting life insurance into your budget
 
You may think life insurance is a good idea, but you’re worried about cost. Especially with all the other new expenses of raising a child. You’ll be pleased to know that it’s very affordable if you choose term life insurance – which gives you coverage for a specific number of years.
 
A policy providing 20 years of coverage that would leave your family $500,000 may only cost about the same as a cup of coffee a day. Age, health and gender affect the exact cost, so we’ll give you a personalized quote.
 
How I can help you
 
Each person, each family, has their own life insurance needs. I’ll meet with you and find out about your personal situation. Sometimes the spouse with lower income, or no income, should have life insurance too. I’ll put together a life insurance solution designed to meet your family’s unique needs, in a way that also suits your budget.
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