It's Personal Finance Canada Why You Need Insurance
Jun 23, 2025
Discover the vital role of health and life insurance in safeguarding your financial future. Learn the differences between temporary and permanent insurance, and why understanding disability and critical illness insurance is essential. This conversation tackles common misconceptions that deter younger individuals from getting covered. Plus, gain insights on permanent insurance products and the importance of comparing providers. Equip yourself with knowledge to protect your loved ones and ensure long-term financial stability.
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Insurance as Pre-Paid Protection
- Insurance is a way to pre-pay today for solutions to possible financial problems tomorrow.
- It allows you to keep your savings and assets intact despite unexpected life events.
Trust and Understand Insurance
- Understand your insurance product and trust your provider to avoid feeling ripped off.
- Seek out qualified advisors who explain policy details so you can make an educated choice.
Self-Funding vs Insurance Reality
- Many people wrongly believe they can self-fund all risks through investments.
- Insurance covers expensive risks when you lack sufficient savings to self-fund those events.
