An important — but often overlooked — component of financial planning is preparing for the unexpected with insurance. It’s not pleasant to think about, but many Canadians will find themselves in a situation where they’ve lost their job, are unable to work due to a disability or injury or lost a loved one who contributed financially to the family. Having the proper insurance can help cover costs during difficult times and can relieve some of the financial burden that comes with unexpected developments.
With the end of the year quickly approaching, many Canadians will be reviewing their finances and setting goals for the upcoming year. Some will plan to buy a new car, while others might make the leap to home ownership. Often these large investments are only possible if wage earners receive all their paycheques. If one of the primary wage earners were to lose their job or take time off from work due to a disability, it could be difficult to cover payments or even manage day-to-day living expenses.
As part of your financial planning, it’s smart to have a plan in place to help manage expenses should there be an unexpected change in your working status. No one expects to lose their job or have an accident that requires time off from work, but unfortunately, many Canadians find themselves in those situations.
With Hudson’s Bay Financial Services, it’s simple and easy to purchase protection online. Life, Disability and Income Insurance is a unique product that offers up to $1,000 a month for unemployment or disability, with the option to add up to $20,000 in life insurance.
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Canadian Premier has been committed to providing financial security for Canadians in the face of uncertainties. They now insure more than 1 million Canadians.