When should you get life insurance? Simply put: as soon as possible.
Life insurance is important to consider regardless of how young you are, because even at 25 there’s a good chance you’ve begun accumulating wealth and assets. It’s not uncommon to purchase a house this early on in life, and the last thing you want to do is saddle your loved ones with repayments on your debts if the inevitable happens.
The number one reason for life insurance is for debt repayment.
Another thing to consider is your premiums: many wait until their late 30s and 40s before they begin shopping around for life insurance. But the reality is your premiums are much more affordable when you’re young and healthy.
And there’s no guarantee a health condition won’t surface as you age, which will assuredly increase your premiums and potentially even render you uninsurable.
So if you haven’t explored your options, think about getting started. Give yourself peace of mind today, and a secure future for your loved ones when you’re gone.
Mick Jackson is an advisor with Assante Capital Management Ltd. Is a member of the Canadian Protection Fund is registered with the Investment Industry Regulatory Organization of Canada.
Please contact me @ (519) 332-4100 or email me at [email protected] to discuss your circumstances prior to acting on the information above.
Insurance products and services are provided through Assante Estate and Insurance Services Inc.
This material was prepared for and published on behalf of your financial advisor and is intended only for clients resident in the jurisdiction(s) where their representative is registered. This material is provided solely for informational and educational purposes and is not to be construed as an offer or solicitation for the sale or purchase of any securities or as providing individual investment, tax or legal advice. Consult your professional advisor(s) prior to acting on the basis of this material. Insurance products are available through advisors registered with applicable insurance regulators. Individual equities are available only through representatives of Assante Capital Management Ltd. In considering any particular investment, please remember that past performance is no guarantee of future performance. Although this material has been compiled from sources believed to be reliable, we cannot guarantee its accuracy or completeness. All opinions expressed and data provided herein are subject to change without notice. Neither Assante Financial Management Ltd. or Assante Capital Management Ltd. nor their affiliates or their respective officers, directors, employees or advisors are responsible in any way for any damages or losses of any kind whatsoever in respect of the use of this material. Certain names, logos or graphics herein may constitute trade names, trade-marks or service marks (“Trade-marks”) of CI Investments Inc. and/or its affiliates or of third parties. The display of Trade-marks herein does not imply any license has been granted to any third party. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. Copyright © 2021 Assante Wealth Management (Canada) Ltd. All rights reserved.