Life Insurance Vancouver | Debunking 3 Financial Myths

People should not go into their life without life insurance Vancouver. Thomas Chan says it is very important, because it will ensure. That people have some finances. If the worst-case scenario happens.

Life Insurance Vancouver

A common reason why people do not save for life insurance Vancouver. Is because they do not want to think about the worst-case scenario happening. They think of bad things as things that happen to other people. Not happening to themselves.

However, accidents, injuries and illnesses. As well as untimely deaths happen to Canadians every single day. And without life insurance, these people. Will have a much more difficult time moving forward.

One of the first reasons why Thomas Chan explains. That people should work to have life insurance, is because if people are unable to work. It is going to significantly impact their family. Most Canadian families are unable.

To survive on a single income, and if someone is unable. To work for any reason. Such as an accident, or an injury. Even if they have an unplanned health problem, it is going to significantly impact. Their family to be able to continue.

People are not going to want to have to move. Or risk losing their home. Because they, or their spouse is unable to work due to a health concern. Therefore, people should work to have life insurance Vancouver plans.

So that if they or their significant other is unable to continue working. They will have the ability to continue on. Without putting their home, or their family in jeopardy. Another reason why it is a good idea to have life insurance Vancouver.

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Is because if someone ends up divorcing. Which 40% of Canadian marriages and that way, they will be left. With no one to help take care of themselves or their family. If there has been an untimely accident or health problem.

Therefore, there are many good reasons why people should create life insurance plans today. However, Thomas Chan says they find that many people. Do not start putting aside money for life insurance.

Simply because they are more concerned with more immediate financial problems. They are often paying off student loans when they get out of school. And they first enter the workforce. Or, they are saving for a down payment on a home.

Once they get the home, they are perhaps saving for a wedding, or home repairs. And once they have children, they are saving for their children’s post secondary education.

As well as paying the significant bills that they end up having. Such as credit cards and car payments just to name a few. They do not think that they ever have enough money. To put aside money for life insurance. And they think that they need a lot of money.

In order to save for life insurance. However Thomas Chan says that is a myth. People do not need to put aside a large amount of money. As long as they start saving early in life. Even a few dollars every paycheck when someone is in their twenties. Can equal a lot of money, later in life.

Life Insurance Vancouver | Debunking Life Insurance Myths

Everyone should have a great life insurance Vancouver plan says Thomas Chan. However, this is not the case. Everyone has what they feel are good reasons. Why they have not started putting money aside for this purpose.

They often have a lot of other financial concerns. When they enter the workforce. Such as paying off their student loans. But also, saving up for a down payment on a home. Saving up for wedding.

And later, they have car payments, bills. Household repairs that they have to save for, and even saving. For their children’s post secondary education. There always seems to be something more urgent to spend money on.

Then putting money aside into life insurance. For something that may not even happen. An untimely accident, injury or health concern. Or even, people do not like to think about their potential death.

However, this is a reality for thousands of Canadians every single year says Thomas Chan. And if people do not put finances into a life insurance Vancouver plan. They will end up, in a lot of trouble later on.

One of the most common reasons why people think that they cannot put money. Into life insurance yet, is thinking. That they need to save more money than they actually do. Someone does not have to set aside hundreds of dollars every month.

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As long as they start saving for life insurance from an early age. Even a few dollars, every paycheck. When someone is twenty, and just enters the workforce. Can help compound that money into a large amount later on.

As well, Thomas Chan says people should consider. That most people do not end up needing to cash in their life insurance Vancouver plan. Until they are older, such as in their fifties, sixties or later.

That has the potential for a small amount of money. To grow over decades of time. As well, Thomas Chan says nobody is going to regret. Putting money aside for the future, if they do not have a tragedy strike their family.

However, people may end up regretting not saving money for life insurance Vancouver. If the unthinkable does happen. And while nobody wants to think about tragedy, Thomas Chan says thinking about it proactively.

And ensuring they have a plan in place. Can help people from having a difficult time. Losing their house, or seeing their family in poverty. If that unthinkable thing ever does happen.

While people usually like to save money for fun eventualities in the future. Such as homes, weddings and vacations. By putting a little bit of forethought into unthinkable events in the future.

People can ensure that they have finances set aside. To ensure that they, and their family are taken care of. If the unthinkable does happen. And they end up the victim of an accident, injury or someone in their family passes away untimely.

Call Thomas Chan and his fantastic team today. They will be more than happy to sit down with you and your loved ones. To put together an actionable plan. To get you started today.