Profile: Rick, 22

Rick has just graduated from college and is apprenticing in a trade. He's got some debts from school, and is looking forward to earning his ticket so that he can start saving up for a condo. He likes to go out on weekends and spends his money on entertainment expenses and the latest tech toys. Rick would like to accumulate some savings, but just doesn't know where to start.

Why Rick needs life insurance

You may think that life insurance is something your parents need, but do you really need it as a student or someone who is just starting out in a career? If you want to begin investing, saving for a real estate purchase, or anything else, life insurance can help you get started.

What life insurance does Rick need?

Permanent and Universal Life™ insurance can build up equity for Rick that he can use later in life as a safety net. Premiums are low for healthy young adults, so there's no time like the present for Rick to get started.

When he buys that condo, Rick will want to get Mortgage Guard® for better coverage on his mortgage than available from his bank.

Rick may not be thinking about it right now, but critical illness insurance can help cover him if he develops a disease or injures himself, with options available to repay a portion of his premium to him if the insurance goes unused after a certain period.

Profile: Lindsay, 25 and Greg, 28

Lindsay and Greg have good jobs and have been living together for two years. They have been discussing a future together that includes a wedding and the purchase of a house.

Why Lindsay and Greg need life insurance

Life insurance is another step towards building your future together. It can also cover the needs of your partner, such as rent and other lifestyle expenses, if something were to happen to you. It costs much less per month than you would think. The earlier Lindsay and Greg get life insurance and work it into their financial plan, the faster it will start to pay off for them and the lower their premiums will be.

What life insurance do Lindsay and Greg need?

Because both Lindsay and Greg are doing well in their careers, they should consider one of our permanent or Universal life insurance plans. While it may seem a little early to start thinking retirement, Lindsay and Greg are in a great position to choose a plan like Limited Payment Life that will allow them to enjoy a premium-free retirement. If their goal is to build up their savings, Universal Life wealth™ could be a good choice.

Profile: Josh, 35 and Neeta, 32

Josh and Neeta are all about baby names, decorating a nursery and childproofing their home for the newest addition to their family. It's an exciting time, but it has them thinking about how to provide for each other and their new baby in case something unexpected happens. Their parents have told them to get life insurance.

Why Josh and Neeta need life insurance

Josh and Neeta have moved from wondering why they would need life insurance to actually needing it right now. The Co-operators has helpful agents in every area of Canada who will take the time to find the right insurance product for young parents like Josh and Neeta, because they don't have the time to figure that stuff out on their own.

What life insurance do Josh and Neeta need?

Josh and Neeta would do best with our Universal Life family™ policies. This policy package is built for families who want the best coverage possible for themselves in addition to their kids, but also want the benefits of things like premium holidays where they can take a break from monthly payments.

Josh and Neeta could look at our Infinity Term® or Versatile Term™ policies if they are looking to save a little money on premiums, with Child Riders for their kids.

They'll also want to look at Mortgage Guard®, which offers them better coverage for their mortgage than their standard bank plan.

If they want to give the gift of insurance to their children, Josh and Neeta can start them on a special children's policy, and look at enrolling them in our Critical Assist® Head Start program, which was created just for kids.

Josh and Neeta would benefit from most of our insurance policies, depending on their income and goals. The best person to work out what they need is a Co-operators agent, who they'll find right in their community.

Profile: Kaliq, 40

Kaliq has worked really hard to build up a business that keeps him and a few other people employed full time. He's really proud of what he's accomplished and goes to work every day knowing that he has a responsibility to ensure that his business is well-managed and viable well into the future.

Why Kaliq needs life insurance

Kaliq is an entrepreneur, and The Co-operators has supported Canadian entrepreneurs like farmers and small business owners since we started in 1945. Kaliq's insurance requirements as a business owner deserve special consideration.

What life insurance does Kaliq need?

Our Infinity Term® business plan was designed for people like Kaliq. It gives him the option to protect his business as well as his family. He should also be considering Critical Assist® for himself, any partners he may have, and key employees.

He should also be starting to think about retirement, so he'll want to choose a plan that fits with his retirement goals. Because Kaliq has so many responsibilities, he'll want to get some advice from his local Co-operators agent.

Profile: Simone, 33

A mother of two, Simone has just gone through a recent divorce. She had a joint life insurance plan with her partner designed to provide for their children and protect their mortgage. After liquidating that plan in the divorce, Simone is looking for something with less of a monthly cost attached.

Why Simone needs life insurance

The temptation to let life insurance lapse is high after an unexpected life event such as divorce or a job loss. However, there are plans that can still provide for a family and cover other expenses at a reasonable price.

What life insurance does Simone need?

Simone needs to be sure that coverage for any debts she may have is in place. In addition, she may want to provide coverage for her children.

A low cost, fixed payment 25-year policy on our Versatile Term™ plan would be the best budget option for Simone. Versatile Term is convertible to permanent insurance down the road when she has more stability.

To ensure that essential payments are covered in the event of critical illness or disability, she can add limited critical illness and disability coverage as riders to her Versatile Term insurance. She can also add in a Child Rider to get her children started with life insurance.

Balancing all of these requirements is best done with the advice and support of a knowledgeable Co-operators agent.

Profile: Warren, 45, and Lydia, 40

Warren and Lydia have everything under control. They are at the peak of their careers, their family is maturing, and they are getting close to paying off their mortgage. They've got Universal Life™ insurance that they review annually. The money keeps coming out of their account, their policies are locked up in a safety deposit box, and they think they are completely covered.

Why Warren and Lydia need life insurance

While Warren and Lydia know that they need life insurance, what they may not know is that they should be paying more into their policy while they can to get the best benefits possible out of their plan.

What life insurance do Warren and Lydia need?

Chances are good that Warren and Lydia can afford a little more than they are paying each month for their Universal life insurance. A well-designed life insurance plan can mean so much more than standard life insurance coverage, such as an additional savings for retirement. A little more per month now can mean more for Warren and Lydia when they retire.

Critical Illness coverage is something they may never have considered as their family was growing but it is invaluable to protecting their estate and their plans for retirement.

Warren and Lydia need the expert advice they can count on from their local Co-operators agent. Their agent can revisit the plan with them every year to ensure the coverage and options are still right for their needs.

Profile: John, 55 and Jean, 52

John and Jean have worked hard all of their lives to provide for their family, put their kids through school and purchase their various homes. They have done some retirement planning, but are wondering where life insurance fits into their retirement portfolio and how they can afford it on a retirement income.

Why John and Jean need life insurance

John and Jean would like to get life insurance to leave a legacy and to cover their debts and final expenses, but they may think it's too late. That just isn't the case.

What life insurance do John and Jean need?

Depending on their goals and available funds, John and Jean could go with either our Universal Life > estate™, Universal Life > wealth™, or our Responsibility® insurance policies.

A Co-operators agent will sit down with John and Jean to take the time to get to know them and figure out what they need in a life insurance policy. Together, they'll pick an affordable plan that will see John and Jean through retirement.

Note: In Quebec, the term "agent" indicates a financial adviser.