Stay informed

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.
How to regain control during high-stress financial and life events

How to regain control during high-stress financial and life events

Emotional well-being plays a vital role for managing uncertainty. Simple routines such as exercising or practising mindfulness help manage stress and foster clearer decision-making. Start small, focus on what you can control and prepare for what you can’t. Financial resilience takes time, but every step forward counts.
Treasuries, sentiment, and earnings: What investors need to watch

Treasuries, sentiment, and earnings: What investors need to watch

Need content to better understand the financial landscape? I have valuable resources for you.

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.
Tax-saving ideas for retired couples in Canada

Tax-saving ideas for retired couples in Canada

Check out this new resource I found!


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.
The true cost of owning a dog - It's Your Money

The true cost of owning a dog - It's Your Money

Adopting a dog from a local shelter in Canada typically costs between $300 and $600. This usually includes vaccinations, spaying or neutering and a basic health check. If you’re getting a dog from a breeder, expect to pay anywhere from $1,000 to over $3,000, depending on the breed.
Balancing home-buying dreams with financial realities

Balancing home-buying dreams with financial realities

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.
More than half of Canadians expect to care for aging parents, but most are not prepared

More than half of Canadians expect to care for aging parents, but most are not prepared

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.
Bank of Canada rate cut odds for June fall after April inflation data

Bank of Canada rate cut odds for June fall after April inflation data

Canada’s annual rate of inflation slowed to 1.7 per cent in April, Statistics Canada reported on Tuesday, down from 2.3 per cent in March.
6.1 million Canadian workers juggling jobs and caregiving: report

6.1 million Canadian workers juggling jobs and caregiving: report

For more than six million working Canadians, caregiving isn’t just part of life — it’s part of the workday. Yet despite juggling these responsibilities, most employees receive little to no formal support from their employers. That’s more than a third (35 per cent) of the workforce, according to a new report from the Canadian Centre
Ontario 2025 budget: Highlights from bike lanes to alcohol revenue and housing  | Globalnews.ca

Ontario 2025 budget: Highlights from bike lanes to alcohol revenue and housing | Globalnews.ca

Ontario has tabled its 2025 budget, outlining its spending plans for the next year in an economy dominated by tariffs from the United States. The annual document gives an indication of the health of the province’s economy and includes major and minor policy announcements from the government.
Debt stress is prevalent as Canadians struggle to build financial resilience

Debt stress is prevalent as Canadians struggle to build financial resilience

Canadians are suffering from rising anxiety about their debts which are frequently resulting from everyday expenses, decimating ambition to build financial resilience. The survey highlights the importance of financial planning and education.
Homebuyers in Canada 'losing motivation' amid possible recession | Urbanized

Homebuyers in Canada 'losing motivation' amid possible recession | Urbanized

Rising concerns about Canada plunging into a recession are deterring prospective homebuyers, according to a new report.
Most Canadians unaware that unused tax credits from prior years are still available: poll

Most Canadians unaware that unused tax credits from prior years are still available: poll

Most Canadians unaware that unused tax credits from prior years are still available.
38% of Canadians believe they may have some unused credits
5 Ways Women Can Avoid Financial Mistakes Inherited From Parents

5 Ways Women Can Avoid Financial Mistakes Inherited From Parents

Gen Z women and 58% of Millennial women consider their parents a trusted source for money advice giving room for inherited financial mistakes to happen

Have questions?

Here to help answer your questions, provide clarity about products and get you started on the road to achieving your goals.