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.
What to do if you outlive your retirement savings in Canada - MoneySense

What to do if you outlive your retirement savings in Canada - MoneySense

Some Canadian seniors enter retirement without savings or run out of money over time. Here’s how they can stay afloat financially.
Younger Canadians are outsaving older ones as they enter trade war ‘survival mode’

Younger Canadians are outsaving older ones as they enter trade war ‘survival mode’

Trump's tariffs are creating anxiety about jobs, inflation and recession, driving an increase in emergency savings
An Ontario high school teacher on how worried kids are today about money and their future

An Ontario high school teacher on how worried kids are today about money and their future

Kelly Gregory, an Ontario teacher, is trying to address these fears by teaching financial literacy to students at her high school in Kingston. Her experience is that talking about money helps students feel better about the future
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
Doctors reveal 7 daily habits that help reduce inflammation naturally

Doctors reveal 7 daily habits that help reduce inflammation naturally

'If people can eat 30 different diverse plant foods over the course of the week, that's very beneficial for gut health,' says Feller. 'And we know that the gut has a big role in terms of immune health and also inflammatory conditions throughout the body.'
Canadians cutting spending, delaying purchases amid tariff turmoil: MNP survey

Canadians cutting spending, delaying purchases amid tariff turmoil: MNP survey

A survey suggests Canadians’ outlook for their personal finances has brightened even as they’ve taken steps to cut their expenses amid economic turmoil.
The FP Wealth Survey: How much does it take to be considered wealthy in Canada?

The FP Wealth Survey: How much does it take to be considered wealthy in Canada?

Financial Post readers think people need a net worth of at least $5 million in order to be considered wealthy, they plan to invest about the same this year as last and their biggest regret was not starting their financial planning earlier.
Your insurance needs are unique at every life stage.

Consider layering insurance policies to benefit from more flexible coverage.

Check out our article to learn more and see if it would suit you.
It's time to look at your retirement income plan through a tax lens. Check out this article to learn how the right tax strategy can increase your retirement income.

Have questions?

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