{"id":13705,"date":"2019-01-28T14:00:07","date_gmt":"2019-01-28T19:00:07","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?p=13705"},"modified":"2019-01-28T14:00:10","modified_gmt":"2019-01-28T19:00:10","slug":"should-you-take-out-an-individual-life-insurance-policy","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/01\/28\/should-you-take-out-an-individual-life-insurance-policy\/","title":{"rendered":"Should you take out an individual life insurance policy?"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignleft is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/wp-content\/uploads\/2018\/11\/fraudddd252028129.jpg\" alt=\"the risks of group life insurance\" class=\"wp-image-12895\" width=\"195\" height=\"130\"\/><\/figure><\/div>\n\n\n\n<p>A couple of recent studies have thrown up\nsome interesting findings regarding the life insurance situations of many\nCanadians. One such study, carried out by the Life Insurance and Market Research\nAssociation, found that although 61% of Canadians held a life insurance of some\ntype, only 38% held their own, individual life insurance policy.<\/p>\n\n\n\n<p>This arrangement can carry a number of\nrisks, such as:<\/p>\n\n\n\n<ul><li>If you rely too heavily on the\nlife insurance provided by your employer, you are vulnerable to changes in\ncircumstances that may occur. For example, if your employer changes or cancels\nthe policy you will lost protection. Equally, if you lose your job for any\nreason, your insurance coverage will be cancelled too.<\/li><li>The maximum life coverage\noffered in lots of group plans is only two times annual earnings, whereas\nindividual policies can offer higher ratios.<\/li><li>If your group plan offers\ncritical illness coverage, the amount is generally quite low.<\/li><li>Generally speaking, when you\nretire at the age of 65, your group insurance plan will cease whereas it is\nclearly preferable to continue life insurance coverage after this age. Trying\nto change your group life insurance plan to an individual one can be expensive;\ntherefore, the best option is usually to think ahead and purchase such a plan\nearlier in life.<\/li><\/ul>\n\n\n\n<p>It would appear, therefore, that the\nmajority of Canadians rely too much on the benefits provided by their employer\nto cover themselves and their families.<\/p>\n\n\n\n<p>Please contact me if you are interested in\nsafeguarding the future of yourself and your family and I can support you in\nfinding an individual life insurance plan that suits your needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A couple of recent studies have thrown up some interesting findings regarding the life insurance situations of many Canadians. One such study, carried out by the Life Insurance and Market Research Association, found that&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/13705"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=13705"}],"version-history":[{"count":3,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/13705\/revisions"}],"predecessor-version":[{"id":13708,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/13705\/revisions\/13708"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=13705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=13705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=13705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}