Did you know that in nearly half of Canadian households, first-wage earners report that in the event of death, living dependents have immediate problems covering their daily living expenses or are no longer able to cover their expenses after a few days? day? Month?
Findings from LIMRA, an industry association representing life insurance and financial services, reflect that millions of Canadians are uninsured or insured and neglect important aspects of their overall financial condition. You can now get to know about income portfolio strategies from professionals in detail.
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Think about what would happen if you died unexpectedly today. Who will pay for your funeral and your family's monthly bills? Who Will Pay Your Monthly Mortgage and Other Unpaid Debt? How will your children's future education be financed? And will your family be able to make up for your lost wages that will be gone forever?
They all show the importance of having insurance that provides money on time when you need it to cover lost income in your household or business in the event of death or injury. Simply put, without adequate insurance coverage, your loved ones can have very dire consequences.
You can approach insurance the way you approach investing. This means that while diversification does not guarantee profits or protect against losses, it is a proven strategy for many successful investors where they ensure that they represent different asset classes for their investments. Likewise, you want a carefully crafted insurance portfolio that includes a variety of types to suit different options and meet your specific needs.