As a new parent, my partner and I wanted to make sure that our family would be financially protected if something happens to one of us. We wanted to be able to keep our current lifestyle, and fully support our child in anything they may need.
Both my partner and I purchased Optional Life, Spousal Life, and Child Life, coverage under our group benefits plans. We both got Life Insurance so we had enough insurance to cover the mortgage payment, could put money aside for our child’s schooling, and have some money left over to help support the family. We purchased Critical Illness coverage so if one of us got critically ill we would have a lump sum to help pay for some of our expenses if we can’t work.
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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.