Help build financial security for you and your loved ones
Not sure where to start? No matter what your needs, our learning centre is packed with tips and ideas to help you create a financially secure future for you and your loved ones.
Why do people buy insurance in the first place?
It depends on what is happening in their life. They’ve bought a home, landed a new job, had children, or got married, and they want to protect what matters most.
How much life insurance is enough?
It depends on who you ask. To ensure their funeral expenses and debt are covered and their dependants are supported financially, the average married Canadian parent believes they need more than $300,000 in Life Insurance. Meanwhile, single Canadians feel their needs are closer to $190,0001.
When do people feel it’s the ‘right time’ to buy life insurance?
It depends on what is driving the purchase. For the majority of Canadians (63 per cent), the best time to buy is as soon as they can afford it, so they can take advantage of low premium rates2.
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Study: Canadians Believe They Need An Average Of $266 Thousand in Life
Insurance Coverage, survey conducted by Pollara, random sample of 1,002 Canadians 18 years
of age and over, Oct.22-24, 2014, BMO Insurance.
2The BMO Life Insurance Survey was conducted by Pollara between July 2nd and 4th, 2014, with an online sample of 1,005 adult Canadians.