Your Guide to Life Insurance

So you've decided to look into term life insurance but some of the words used are new to you – Serenia Life’s comprehensive glossary can help with that.

A cash-value life insurance policy is one part guaranteed life insurance and one part investment component, which provides you the opportunity to grow your money – and access it later. Together, the two halves of the policy play a critical role in helping you protect your assets, minimize taxes on the estate, and provide access to money while you’re still alive.

When it comes to the many life insurance term plans out there, you may feel overwhelmed by the options and what makes them different. This article breaks down the life insurance term plans you do – and don’t – need based on your current situation, your financial goals, and even your budget.

The short answer is yes. And yet, according to a 2023 study, only 48% of millennials have life insurance. If you’re one of the 52% that isn’t insured and have been asking yourself, “should I get life insurance in my 30s?”, we’re here to tell you why you should – and sooner rather than later.

True or false: Life insurance is about financially benefitting from somebody’s death. If your gut reaction is to say “true,” you’re not alone. Life insurance is probably one of the most misunderstood products out there. But for the record, the answer is a great big resounding FALSE.

Couples share responsibilities for everything from household bills, to raising children, to planning for retirement. And of course, change is inevitable over the lifetime of a marriage or partnership, especially when jobs and income are more fluid than ever. That's where life insurance for couples comes in.

Life insurance is an important tool when it comes to providing financial protection for your loved ones in the event of your death – meaning they may not have to worry about unpaid debts, a gigantic mortgage, or the responsibility of paying for your funeral...

When it comes to term life insurance costs, there’s a lot to think about. Not to worry, we're here to help! Whether you’re working with a broker or exploring options independently, we can help you ask the right questions, compare the value of policies, and tailor coverage to meet your needs.

Families come in all shapes and sizes, and family life insurance is a great way to make sure everyone is protected. Whether you’re a single parent or one half of a partnership, you likely want the same thing as every other parent – security and protection for the ones you love.

It may not occur to many Canadians that marriage, babies, a new job, or a new house could all impact their life insurance needs. Days like National Insurance Awareness Day force us to stop and think about these types of things... which makes it a good time to reach out to an advisor to ensure our coverage still meets our needs.