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1. • • The biggest reasons why we buy life insurance? To ensure the financial security of loved ones, prepare for retirement and/or finance children’s educations, according to an April 2023 HelloSafe survey of more than 950 Canadians.
     www.moneysense.ca/spend/insurance/best-life-insurance-canada/

     Best life insurance in Canada for 2024 - MoneySense

2. People also ask

   Why should Canadians consider life insurance?

   • There are many reasons why Canadians should consider life insurance, but none are more important than the financial security it affords your loved ones. Get a free life insurance quote with us today to see how affordable coverage can really be. We all know that getting life insurance is important.

   The Top Benefits of Life Insurance for Canadians - Ratehub.ca

   www.ratehub.ca/blog/life-insurance-benefits/

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   What is life insurance & how does it work in Canada?

   • Before we get into the benefits of life insurance, let’s review what life insurance really is (and how it works in Canada). Life insurance is essentially an agreement between you and your insurer – by paying premiums on a regular basis (usually monthly or yearly), your insurance company agrees to pay out a death benefit after you die.

   The Top Benefits of Life Insurance for Canadians - Ratehub.ca

   www.ratehub.ca/blog/life-insurance-benefits/

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   Why is life insurance important?

   • Here are five reasons why life insurance is important. If you think you don’t need life insurance, you’re right — technically, at least. You don’t purchase life insurance for yourself. You purchase it for the loved ones you leave behind. Here are the ways life insurance can help loved ones in your absence.

   Why Do I Need Life Insurance? - Securian Canada

   www.securiancanada.ca/individuals/life-insurance/why-do-i-need-life-insurance.html

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   How many Canadians have life insurance?

   • Twenty-two million Canadians have life insurance, according to a 2022 report from the Canadian Life and Health Insurance Association (CLHIA). The biggest reasons why we buy life insurance?

   Best life insurance in Canada for 2024 - MoneySense

   www.moneysense.ca/spend/insurance/best-life-insurance-canada/

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   Do you need life insurance in Canada?

   • To be fully protected financially from unexpected life events, you may also need home insurance, auto insurance, critical illness insurance and disability insurance. By Lisa Hannam on August 15, 2023 Twenty-two million Canadians have life insurance, according to a 2022 report from the Canadian Life and Health Insurance Association (CLHIA).

   Best life insurance in Canada for 2024 - MoneySense

   www.moneysense.ca/spend/insurance/best-life-insurance-canada/

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   How much does life insurance cost in Canada?

   • This amount determines not only how comfortable your family will be after you pass away, but how much you will pay for your coverage, too. The average Canadian life insurance policy pays out $200,000, but many life insurance professionals suggest this may not be enough to cover the average person’s needs.

   Best life insurance in Canada for 2024 - MoneySense

   www.moneysense.ca/spend/insurance/best-life-insurance-canada/

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3. www.ratehub.ca › blog › life-insurance-benefitsThe Top Benefits of Life Insurance for Canadians - Ratehub.ca

   www.ratehub.ca › blog › life-insurance-benefits

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   Mar 9, 2023 · There are many reasons why Canadians should consider life insurance, but none are more important than the financial security it affords your loved ones. Get a free life insurance quote with us today to see how affordable coverage can really be.

   • Author: Ratehub.Ca

4. www.moneysense.ca › reasons-to-buy-life-insurance5 reasons to buy life insurance—right now - MoneySense

   www.moneysense.ca › reasons-to-buy-life-insurance

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   • To protect your loved ones from financial loss. When a person dies, their family has to deal with the financial burden as well as the emotional impact of that loss.
   • To help pay off a mortgage or other debts. If you share the home you own with your partner, children or other loved ones, life insurance can help pay off the balance of your mortgage in the event of your death.
   • To transfer wealth to the next generation. Want to leave your kids or grandkids an inheritance? A life insurance policy can be a tax-efficient way of doing that.
   • To make a philanthropic impact. A lesser-known function of life insurance is that it can be used to efficiently transfer funds to a non-profit organization.

5. Videos

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     How Life Insurance Works in Canada | Insurance 101

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     Whole Life Insurance Canada Explained | Life Insurance Canada

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     Whole Life Insurance Explained (Canada)

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6. www.moneysense.ca › best-life-insurance-canadaBest life insurance in Canada for 2024 - MoneySense

   www.moneysense.ca › best-life-insurance-canada

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   Aug 15, 2023 · The biggest reasons why we buy life insurance? To ensure the financial security of loved ones, prepare for retirement and/or finance children’s educations, according to an April 2023...

   • A life insurance policy does not specify how the payout must be used; the policy’s beneficiary can choose how they use the money. However, the fund...
   • The average Canadian life insurance policy pays out $200,000, but many life insurance professionals suggest this may not be enough to cover the ave...
   • Average monthly premiums for life insurance range from as low as $17 to well over $300 per month, according to data from rate comparison website Ra...

7. www.limra.com › siteassets › newsroomWhy do Canadians own life insurance? How do Canadians buy ...

   www.limra.com › siteassets › newsroom

   • The top three reasons consumers in Canada give for owning life insurance: o Final expenses (40%) o Good/wise/necessary thing to do (32%) o Transfer wealth (30%) How do Canadians buy life insurance? • About three quarters (72%) of Canadian households prefer to buy through an agent. Other preferences include: o Online (14%) o At work (8%)

8. www.canada.ca › services › insuranceLife insurance - Canada.ca

   www.canada.ca › services › insurance

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   Life insurance helps your loved ones deal with the financial impact of your death. It provides them with a one-time, tax-free payment, called a death benefit. They may use the amount to: replace your income to allow your family to maintain their standard of living. provide for your children or dependents.

9. www.rbcinsurance.com › life-insurance › life4 Reasons to Get Life Insurance at Any Age

   www.rbcinsurance.com › life-insurance › life

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   1. To protect your family financially. 2. To protect and pass on your assets. 3. To pay for your child’s college or university education. 4. To save for the future. Want to know more about life insurance? Learn more about the fundamentals of life insurance or use our life insurance calculator to see how much coverage you might need.

10. www.securiancanada.ca › individuals › life-insuranceWhy Do I Need Life Insurance? - Securian Canada

    www.securiancanada.ca › individuals › life-insurance

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    Oct 27, 2023 · Here are five reasons why life insurance is important. Life insurance is not for you — it's for your family. If you think you don’t need life insurance, you’re right — technically, at least. You don’t purchase life insurance for yourself. You purchase it for the loved ones you leave behind.