Life insurance for families
Protect your family with life insurance.
Balancing the demands of your life is already a challenge – and the last thing you want to think about is what might happen if your family faced a sudden death.
What would happen to your family if the worst happened?
Life insurance can help keep your family protected and prepared. If you or your spouse died:
- Could you or your spouse live on one salary?
- Could you maintain your mortgage, childcare, and other monthly expenses?
- Could your family continue saving for your child’s future education?
There’s more to consider than the cost
Being unprepared can cost you even more in the long run. When shopping for a life insurance plan, think about:
- Purchasing protection for your mortgage or additional insurance if you become critically ill
- Protecting your longterm RRSP and TFSA savings contributions
- Timing is everything: life insurance can be less expensive when you’re younger, and it’s easier to qualify
- If your children could benefit from life insurance, too
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Here’s an example of how much coverage you might need
Mortgage: $500,000
Consumer debts: $35,000
Five years' income: $300,000
Education savings: $40,000
Funeral expenses: $25,000
Total coverage needed: $900,000
For that amount, a life insurance policy could cost as little as $34.74 a month*.
* For the first 20 years, under a Versatile TermTM 20 policy, female, non-smoker, 30 years old. Terms and conditions apply.
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Life insurance is underwritten by Co-operators Life Insurance Company. Segregated funds and annuities are administered by Co-operators Life Insurance Company. This material is provided for informational purposes only. Please refer to your policy for applicable coverage details, limitations, and exclusions. In Quebec, a licensed insurance advisor is a Financial Security Advisor or a Representative. Co-operators® is a registered trademark of The Co-operators Group Limited and is used with permission. Critical Assist®, Versatile TermTM is a registered trademark of Co-operators Life Insurance Company.