Life insurance

Life insurance is relevant at any stage of life.

When you’re young, you benefit from advantageous rates on permanent insurance that will increase in value over the years and possibly create extraordinary wealth for you. As a true asset, your life insurance could even serve as loan guarantee if needed.

A 10- to 20-year term insurance policy lets parents with young children purchase a sizeable amount, thus protecting their families in the event of the premature death of either spouse. This kind of policy can also favourably replace mortgage insurance if the amount is sufficient.

Once you’re retired, your life insurance will cover your death taxes and funeral expenses and still leave a small amount for your loved ones, as opposed to leaving them with fees and debts.

Calculating the amount of protection you need involves taking into account factors like funeral expenses, taxes owed at death, your mortgage amount (if any) and your children’s school fees. If you are paying child support, this is something else you’ll need to provide until your children reach adulthood.

Let a Groupe Financier Fortin Roy financial services expert help you choose the protection that’s best for you.

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