Good insurance should “ensure” that you’re protected against the challenges life throws at you. Like most people, you may not be an insurance specialist. It’s often difficult to make a choice when there are countless products on the market, and it can seem like you’re paying double for the same coverage another has. Here’s the information you need to know to help you untangle the nuances of your contract.

Insurance in your image

To find insurance that corresponds to your needs, be sure to always have your priorities in mind. Some important things to consider are the protection of your family and your patrimony. It’s the job of financial security advisors to sit down with you to understand your situation and how to find solutions to protect you from the worst-case scenario.

Because there are countless insurance products, some offer similar coverage to others. For example, you may purchase mortgage insurance with your financial institution, but you already had life insurance that covers you for the loss of familial revenue. It’s possible that, in this case, you are paying double for the same coverage. When you reassess your budget, your advisor will be able to guide you to a better product.

Every insurance plan is personalized for each individuals’ profile. You must first establish your goals and your needs: do you have children, are you married or separated, owner or renter? Do you have group insurance? Do you travel often? While it is impossible to predict or be protected from every potential catastrophe, we can plan for the essential. Here is a list of policies that you might need.

The essential

• Life insurance: Why ensure your life? There are many reasons – in case of death, you can make sure that your loved ones continue to be supported through your revenue. Today, life insurance does more than just protect you, it also represents a tax-exempt fund that could, on a long-term horizon, give a boost to your retirement fund.

• Disability insurance: this insurance policy can offer peace of mind in a scenario where you can no longer work because of severe illness or accident-related reasons. Purchasing disability insurance can allow your children or your partner to maintain their quality of life despite changing circumstances.

• Critical illness insurance: after being diagnosed with a critical illness, this type of insurance can support you should you lose revenue as a result of that illness, allowing you time to rest to get well soon.

Think about establishing your insurance scheme in concert with your financial plan. Treat it like a long-term investment!

Make informed decisions

There are many more products on the market, ranging from credit insurance to travel insurance to long-term care insurance. It’s essential to shop around and understand each insurance product, and an advisor can help you make an informed decision and to consider every possibility to make sure you have insurance that suits you!