Toronto Life Insurance Broker Jack gives you a unique way to see if you have enough coverage, it’s a simple question. What your monthly income ? Multiply it by 70% and then ask this question to your spouse. How long would you need this yearly income ? 10years, 15 years, 20 years. I think the answer would shock you and make you rethink your current coverage amount. ‘
How much life insurance coverage and for how long would you need going forward. Its a simple question that I am sure if you answer honestly will mean that 1 million should be the bare minimum of coverage you should be looking at. Take your salary at 70% multiply it for that many years and this will give you a bare minimum, thats doesn’t include debt, mortgage, credit lines, car loans, funeral expenses, emergency funds, education funds.
You will find that you probably need more then you think. And life insurance in Canada is really not that expensive. A 30 year old male with standard health can get a 30 year policy for 90 bucks, a female same age can get it for 65 bucks. Call, text, or chat with me to get a free no obligation life insurance quote from all the insurance companies in one shot.