Life insurance, including mortgage or creditor insurance, is a key tool in your financial arsenal. This article will provide a high-level overview to help you better understand your choices when considering life insurance as part of your overall financial strategy.
Life insurance, at its core, protects the standard of living of loved ones left behind after someone passes away. While you pay for it (similar to car insurance), the benefit goes to other people.
Ross and Janis lived a typical Canadian life. They were married, had two children, Melissa and Kyle, and both worked outside the home.
An avid golfer, Ross also went on fishing trips with friends and helped coach his son's hockey team. Janis played the piano, enjoyed bike rides with her friends, and was treasurer for her daughter's soccer team. They played in a mixed curling league.