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As financial markets become more volatile, it's important to have these six components in place for a financially secure retirement.

How much life insurance is the right amount? Let’s set up some time to discuss the details such as how long you need it and what kind might be right for you. You can walk out feeling more confident and educated on your options.


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.

FP Wealth Report: Average household net worth in Canada reached $1,026,205 by the fourth quarter, a 30 per cent jump from pre-pandemic figures

One of the first thing Rampersad does when she works with a client looking to purchase their first home is help them register a First Home Savings Account (FHSA), which allows clients to reduce their taxation on their first home purchase.

While prices and buyer competition have declined — offering the perfect opportunity for purchasers ready to enter the market — it’s brought on by Canadian consumer confidence taking a hit, with economists warning of a modest recession given the current trade uncertainty with the U.S.

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The opinions expressed in this article are of the fund company that owns this content and do not constitute professional advice or recommendation. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation.

Bank of Canada holds interest rate at 2.75% again as 'uncertainty remains high'

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The opinions expressed in this article are of the fund company that owns this content and do not constitute professional advice or recommendation, nor do they reflect the official position of Sun Life. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation.

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The opinions expressed in this article are of the fund company that owns this content and do not constitute professional advice or recommendation. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation.

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The opinions expressed in this article are of the fund company that owns this content and do not constitute professional advice or recommendation, nor do they reflect the official position of Sun Life. Please seek advice from a qualified professional, including a thorough examination of your specific legal, accounting and tax situation.

For nearly a third of soon-to-be-retired Canadians, living a mortgage-free retirement may not be on the cards for at least a few years, a new report says.

Sustainable finance experts have launched a new initiative to encourage Canadian financial institutions and companies to develop and follow through on credible climate transition plans, measures they say will ensure Canada’s competitiveness and resilience in the global economy.

More than half of Canadians expect to care for aging parents, but most are not prepared. The costs of caregiving – such as day-to-day expenses, healthcare, long-term care, in-home care, and home upkeep - can add significant burden to finances with most poll participants reporting at least $5,800 in out of pocket expenses annually, but as much as $25,000 for some.

Ways to give money to grandchildren who have maxed out their RESPs

When Ginny Barton’s husband passed away, she started volunteering to keep busy. By teaching others to knit, she gained a new sense of community

Should you hold equities? Fixed income? An annuity? Or all three? Financial advisors debate the options in today’s “tariffied” environment.

Discover how to support your mom in planning for the future with practical advice on estate, legal, and care decisions.

Do you have the best life insurance for your life stage? Experts say young Canadians are often underinsured. Here’s how to choose the right coverage.

Should we start investing, or stay focused on building our real estate portfolio? This is the question British Columbia-based Jennifer and Roland are trying to answer.