In the media
Click on the links below to read articles that we've contributed to.
How this former professor saw through the fog of early retirement. Plus, seven tax tips and traps to consider in 2025 (only available for Globe and Mail subscribers)
Finding insurance solutions for the uninsurable (only available for Globe and Mail subscribers)
How life insurance can make for more tax-efficient intergenerational wealth transfers
What cottagers need to know about the Bank of Canada’s interest rate cut
Taxing capital gains: entrepreneurial kryptonite or tax fairness?
Health and fitness top New Year resolutions for 2024
Owners to sell Cambridge Tim Hortons after 55 years in business
Ten money management and investing books you should read this summer (only available for Globe and Mail subscribers)
How increasing interest rates could impact homeowners
Making financial moves ahead of RRSP deadline
Want to know which way markets are headed? There’s a popcorn index for that (only available for Globe and Mail subscribers)
Retired and eyeing GICs? Why you should take a look at what insurance companies have to offer (only available for Globe and Mail subscribers)
12 life insurance beneficiary mistakes to avoid
Script: How much life insurance is the right amount? Simply put, the amount of life insurance you need depends on your unique situation. A good place to start is to figure out how much life insurance you may need… how long you need it for… and what kind might be right for you. Let’s look at an example: Jackie is 33 years old… and has two kids. She has four goals for her life insurance: Leave money to her family to pay off her mortgage. Top up her kids’ registered education savings plans. Pay off her student loans. And, replace her income for 10 years. Based on these goals, Jackie is looking at a 1-million-dollar life insurance policy. If she died, her family could choose to use the insurance payout to: Put 300-thousand dollars toward the mortgage. Add 60-thousand dollars to the kids’ RESPs. Pay off her 40-thousand-dollar student loan. And… cover the family’s ongoing costs with the remaining 600-thousand dollars. How much do life insurance payments cost per month? In Jackie’s case, a 1-million-dollar, 30-year term policy for a non-smoking, 33-year-old woman… could cost about 80-dollars per month. For a man of the same age, it’s closer to 110-dollars per month. How long do you need your coverage to last? For a younger person… or a couple with debt and a mortgage, a 30-year policy or longer may be suitable. For someone in their forties… with little debt and a small mortgage… a 20-year policy might be the right fit. What are your options? Your employer may offer life insurance through your employee benefits. But… it may not be enough. And you can lose that coverage if you change employers. You may want to consider more life insurance. In which case, you have two types to choose from: Term life insurance. And… permanent life insurance. Any amount of life insurance can help give your loved ones some financial security when you die. Your unique situation will inform the amount and type of insurance you need. For more tips and tools, visit sunlife.ca.
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