For some a car is simply a means of getting from point A to point B; for others it’s a status symbol. Cars are a hobby, a passion, for some and necessity for others, but whatever your level of affinity toward automobiles is, there comes a time where just about everyone needs to start shopping for a new (or used) one; but, don’t run down to the local dealership just yet.
Did you just read the title of this blog and laugh out loud?
It probably surprises you as much as it does our clients when we tell them they need $1,000,000 of term life insurance. When you factor the income you earn and what your family would miss out on if you pass away prematurely, then add in the time value of money, you might be worth more than you think.
My first experience with insurance claims (or lack thereof) occurred just days before I got married back in 2011, a few years before I started selling insurance. We had a destination wedding in California and invited some close friends and family to help us celebrate.
Two days before our wedding, the groomsmen and I were relaxing by the pool and playing some basketball.
We’re living longer – that’s a fact. As our life expectancy increases, many individuals have moved their planning focus from dying too soon to living too long. Fewer Canadians are buying life insurance; approximately only 43% of Canadians had a policy in 2013, according to LIMRA.
It’s no mystery that many young families have stretched their family budget to the limit. You can see why when you tally up living expenses, childcare, auto expenses, diapers, food, etc. Some families might try to alleviate the budget by clipping coupons or cutting back on eating out so often.
In a world riddled by acronyms, things can get confusing. I’ll keep this post really straight forward and only use one acronym because it will be used multiple times in this post due to the theme:
RRSP – Registered Retirement Savings Plan
At a meeting earlier this week, some colleagues and I began discussing the importance of being able to step away from our business (or job) and just take a moment to enjoy life. Take a day off, per say. And studies show that we were on the right track with that discussion.
Actual Story #1
When it comes to taking care of your family, protecting their future is one of your key responsibilities. For most families, that means choosing life insurance. This way, if you pass away while your family needs financial support, they can maintain their standard of living and achieve their life goals.