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You may be thinking, “I’m young and healthy. And I don’t have any dependents. Why do I need life or living benefits insurance?”

If you’re working, you probably depend on your income to maintain a comfortable standard of living. How would you pay your bills if you had to stop working due to a serious illness or disability? What about the cost of your prescriptions and medical treatments? You may assume your provincial government or group plan will cover those costs. But you may be surprised to discover you’re expected to pay for many of those costs out of your own pocket. And who would look after you if you couldn’t take care of yourself? These are all important things to consider.

Having the right living benefits insurance can help protect your way of life and your dreams for the future.

What about life insurance? If you don’t have dependents, you may not need to worry about replacing your income if you die suddenly. However, there are other expenses to think about, like the cost of your funeral and paying off any outstanding debts. Who would cover those costs?

Bottom line, if your death could cause an economic hardship for others, you need life insurance protection.

To find out what type of life and living benefits insurance you might need, we recommend that you talk to a professional insurance advisor. You can also check out Insure Right.