Life Insurance… Why do I need it?
The short answer to this question is “you don’t”, but your family/loved ones might. Unless you are using a permanent life insurance policy to shelter passive assets from taxation inside your corporation, or as a tax deferred investment, life insurance is very much a selfless form of insurance.
It is intended to benefit/protect somebody else. To you, it may seem like just another monthly (or annual) cost, but it can be an easy way to make sure that your income, your debt, your savings and your family are all protected should something ever happen to you.
Life insurance operates under a very basic premise, that you love your family and you do not wish any financial hardships on them if you pass away. If this sounds like you, and if you don’t have any life insurance in force, you should consider setting up a risk management review with us to make sure that you, your family and your financial plan are all protected from the unexpected.
If you would like to discuss any aspect of your insurance needs, please contact Jon Glougie.
This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of IA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
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