I am still paying off my student loans, contributing to my RRSP, and trying to save for my next vacation. And though I wanted to get a Life Insurance policy I wasn’t sure I could swing another payment. There isn’t enough money to go to everything and I was getting stressed trying to figure out what to prioritize.
I talked with a Licensed Insurance Advisor and realized that I could get an Optional Life Insurance policy for as little as $15 a month. Knowing this, I decided to just contribute $8 less to my savings and RRSP every month and use that $16 to cover the cost of my new policy. This way I was still making monthly payments and saving for my vacation, but now that I have Life Insurance, it put me at ease to know that if something happens to me, my family has help to cover my debts without worrying about how to pay for it.
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The content on this page serves as an example of a life event, meant for context and consideration when thinking about adding insurance to your portfolio. It is not meant to be taken as a recommendation and we always suggest you seek the advice from a licensed insurance advisor when making important insurance decisions. Products are offered based on plan availability, applications are subject to review, and claims are paid out on approval and are not guaranteed.