Everyone needs life insurance because, at some point, everyone will die. It’s more important when you’re young and don’t have money set aside for burial and medical expenses, but most Canadians need some form of life insurance throughout their lifetime.
Common examples of who needs life insurance include the following:
- Surviving spouses
- Dependent children
- Aging parents, dependent on you for financial support
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Consider life insurance if you still have a mortgage, kids going to college, or anyone who depends on you financially, whether a spouse or aging relatives.