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Question:

Protecting Your Life Through Insurance

Answer:

There’s no doubt. You have worked hard to get where you are in life. Perhaps you entered the job market straight out of high school, or maybe you specialized in a certain field and after years of education have your feet firmly planted in the working world. You love your job and couldn’t ask for anything more. Perhaps you’ve remained single. You work hard and play even harder. Or maybe you found the wife/husband of your dreams and have settled down. Each morning you wake up loving your life and your spouse. Perhaps you have children you adore as well.

Maybe you are just living paycheque to paycheque – barely getting by and making ends meet. You can’t imagine anything bad happening in your life and you definitely aren’t financially equipped to deal with it.

And then tragedy strikes. Your husband of 10 years falls off the ladder while siding the house and breaks his leg in three spots. Your child becomes ill with a rare type of bone cancer. Your wife of 30 years passes away suddenly from a brain aneurysm. You get sick or hurt and need to take a year off work or maybe you lose your job. How do you pay your bills, your loans and your mortgage?  Tragedy doesn’t pick favourites. It can happen to anyone. But what happens to you and those you love?

Scenario 1 – You aren’t prepared. You have some savings in RRSPs so you pull it out to make ends meet. But the bills pile up, you deplete all savings and sell your house you worked so hard for. And then, when you retirement comes, you’ve got nothing. In the end, you need to keep working and move in with your grown children. You don’t get to live the life of retirement you envisioned many years ago and the stress drives you to an early grave. Your financial well-being is jeopardized.

And if you are living paycheque to paycheques, what happens to you then?

Scenario 2 – You are prepared. You love the life you’ve built for yourself, so you purchased different types of insurance* to meet your needs. You are able to focus on yourself and your loved ones as you comes face-to-face with the harsh realities of life. You are able to protect your financial well-being – now and in the future.

If something happens to you or your family – such as illness, injury or even death – a personalized insurance plan will help cover whatever is important to you so you can get on with life knowing you’ve taken care of the ‘what-ifs’. Four types of insurance* that can help you feel more secure are:

1. Life Insurance – ensure your family will be taken care of if anything happens to you or your spouse
2. Disability Insurance – ensure you are covered if you are unable to work or earn money because of an illness or accident
3. Loss of Employment Insurance – ensure you and your family will be taken care if you involuntarily lose your job
4. Critical Illness Insurance – ensure you and your family are taken care of in the event of a stroke, heart attack or life-threatening cancer.

Let us help you plan for the ‘what-ifs’ of life. We’re here to help.

*Credential Financial Strategies Inc. is a member company under Credential Financial Inc., offering financial planning, life insurance and investments to members of credit unions and their communities.


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