Dependable Life Insurance in Ottawa and Surrounding Areas
Life insurance tends to be less expensive the younger you purchase it as you pose less risk. You should consider purchasing life insurance if you recently made a significant life change, like getting married, purchasing a home or having children.
Ultimately, the decision to get life insurance is up to you. Consider what your loves ones would do if something were to happen to you—whether disability or death—and if they could support themselves without your income.
There are several factors that influence rates, including your health and age and the type of life insurance you’re purchasing.
For example, rates will be different if for a young adult with dependents than for a senior who is covering funeral expenses.
Please contact us for a free quote based on your specific life insurance needs.
Life insurance, like any insurance, is the transfer of risk. Anything that may increase that risk will factor into how much you pay for the cost of your insurance. Here are some things that life insurance providers may take into consideration when calculating your rate:
- Your age. The older you are, the more expensive life insurance will be—even if you are in outstanding health.
- Gender. This is a small variable but, as women tend to live longer on average, their risk may be considered less.
- If you smoke. As a significant health risk, smoking may increase your rates. Depending on the insurance provider, cannabis use and vaping may be counted as smoking.
- Your health. You will likely be considered a higher risk if you are in poor health, so you may have to pay more for life insurance. Family history of heart disease, diabetes and more are also considered risk factors.
- Your occupation. If you have a higher risk occupation, you may see higher life insurance rates. This is also true if you have high-risk hobbies, like skydiving.
Life insurance is just as personal as any other kind of insurance. It’s dependent on your circumstances. As expert brokers serving Ottawa and surrounding areas, Smith Petrie Carr & Scott can help assess your needs, debts and financial status to provide a fair estimate on the amount of coverage you should consider. You may also need to factor in life changes, such as marriage and children.