Life Insurance Vancouver | Dispelling 3 Common Myths

Saving for life insurance Vancouver could be one of the most important things. That people do says Thomas John however, many people. Do not have life insurance at all. And that can be huge problem.

Life Insurance Vancouver

The reason why life insurance exists, is to provide a buffer. Of finances, in case the unthinkable happens. While nobody wants to think about the unthinkable. Accidents, injuries. And untimely health concerns happen.

Two thousands of Canadian citizens every single year. And for people who have these events happen. Who do not have life insurance Vancouver set up in advance. They are left scrambling, as their family struggles to survive.

One of the most common reasons. Why people do not start putting money into a life insurance Vancouver plan. Is thinking that they are going to be able to get by. With support from their family.

The family might consist of their parents. Their children, or thinking that there spouse. Will be able to take care of them if the unthinkable happens. Unfortunately, this is not always possible for many different reasons.

For example, many people are unable. To have their parents care for them. Because their parents, may also be having their own health concerns. As well, their parents may have underestimated.

How much money they needed to retire, and have used their savings. In order to live, and do not have the finances. To help their children, if there has been an accident or health concern.

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As well, many people think that their children will take care of them. And that is a lot of the reasons why people want to have children in the first place. However, this is a poor thing to count on says Thomas Chan.

Children may be having their own financial struggles. Such as paying their own student loans back, saving for a down payment on a home. Or dealing with their own bills, such as car payments and credit cards.

And finally, Thomas Chan says why people should have life insurance Vancouver. Instead of counting on their spouse to take care of them. Is often, if people need extra care. Or they have an untimely death.

There spouse will be too busy working. To be able to take care of anyone. Therefore, if people are left needing additional care. They are left without anybody to help them. That is, if they are still married.

Thomas chances not only do 40% of Canadian marriages. And in divorce. But often, divorce comes on the heels of a tragedy. Therefore, people should not count on a significant other being there.

To take care of them, if they are unable to care for themselves. Rather it is a far better scenario says Thomas Chan. To have a great life insurance plan. So that they are covered if something happens.

And hopefully, having that coverage. Will help them maintain a great relationship with their spouse. But even if they do divorce, people will have their life covered. With life insurance.

Life Insurance Vancouver | Dispelling Life Insurance Myths

Newly wants to think about life insurance Vancouver says Thomas Chan. They would rather think about saving money for fun things. Like saving for a new house, saving for vacations. Or buying the car.

It does not sound like much fun. To plan to put a large check of money over many years aside. For the event of an accident, an injury or death. As well, many people are also putting money aside every month.

To plan for their own retirement, and we feel overwhelmed at the prospect. Of putting even more money aside for something that may not even happen. However, Thomas Chan says people should take into consideration.

What would happen if they get sick, injured. Or they or their spouse passes away. Would they be able to survive on a single income? Or would they have to sell their home in order to pay all of their bills?

If they had to quit their job to take care of their loved one. Would they be able to get by. Or what they have to move, or put their loved one into a facility. Because they would be unable to work and care for them at the same time.

All these might be uncomfortable questions says Thomas Chan. Thinking about them in advance. Can help people find the reason. Why life insurance Vancouver is such a good idea.

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And while everybody has things that they would rather be spending money on. Nobody will regret putting money aside for life insurance Vancouver. If nothing happens, but people will absolutely regrets.

Not putting money aside for life insurance. If something does happen, and they are left scrambling. And without a plan, or without proper care for their loved ones. Therefore, a bit of planning can help people have a smoother future.

As well, many people do not put money into a life insurance Vancouver plan. Because they do not have a lot of money. And think that it is not enough to make it worthwhile. This is a huge myth says Thomas Chan.

Even a few dollars saved. Every paycheck, especially starting when someone is young. Such as just entering the workforce in their twenties. Is going to compound into a lot of money the longer it sits.

And while some young people get health problems. Or accidents and injuries. It is more likely that people are not going to need that money. Until they are in their fifties, sixties or seventies. Which means it will have a lot more time to accumulate.

And grow into a large amount of money. In fact, Thomas chances it is far more beneficial. For a young person to save a small amount every month. Then it is for an older person to save a large amount every month.

If people would like to sit down with Thomas Chan, and his excellent team of advisors. All they have to do is pick up the phone, and schedule a consultation. In order to start planning for your future the right way.