Licensed Life Insurance Professional · Ontario & Alberta
Your family depends on your income. Life insurance can help replace it.
If your income stopped, the mortgage and the groceries wouldn't. I'll help you work out how much protection your family may need, what your options are, and what the differences actually mean.
You don't need to know what type of life insurance you need before we talk. Working that out is the point of the conversation.
Start with the responsibility
Life keeps going for your family, even when your income doesn't.
Before we talk about any product, it's worth naming what you're actually trying to hold up. For most people it's some combination of these — not all of them.
Income
The money the household runs on every month.
Mortgage or rent
Keeping the family stable in the home they're in.
Debts
Balances that don't disappear on their own.
Children
Daily costs now, and whatever comes after.
Education
Where that's part of what you're planning for.
Final expenses
The immediate costs a family faces straight away.
Business obligations
Loans, partners or staff, if you run something.
Very few families need coverage for every line on this list. The point is to know which ones are yours.
These are usually the moments people start asking:
The question everyone asks
How much life insurance do I actually need?
You'll see rules of thumb online — ten times your income, that sort of thing. I don't use them, because they're not built around your situation. Two families with identical incomes can need very different amounts.
The goal isn't the biggest policy. It's the amount that makes sense for the problem you're actually trying to solve.
What we'd look at together
- How much income would need replacing, and for how long
- How many people depend on you, and their ages
- What's left on the mortgage, and other debts
- Savings and other resources already in place
- Any personal coverage you already hold
- What your workplace plan provides
- What you can comfortably afford every month
A very common one
"My job already gives me life insurance."
Good — and it absolutely belongs in the conversation. Workplace coverage can be a real part of a family's protection. It's just that every plan is different, and most people have never read theirs.
The aim is to know what it does, so you can see clearly whether anything sits outside it.
Worth checking with your employer
- How much coverage do I actually have?
- Is it a flat amount, or tied to my salary?
- Is there optional coverage I could have chosen?
- What happens to it if I change jobs?
- Can any part of it be continued or converted?
- Who's listed as my beneficiary?
- Is the amount enough for what my family relies on?
Your employer's actual plan documents determine your coverage and your options. I can help you work out what to ask — I can't tell you what your specific plan contains without them.
Already hold a personal policy as well? A policy review is probably the better starting point.
Only now, the products
So what's the difference between the options?
Here's the honest version, at a high level. There's no winner in this list — these are different tools for different problems, and which one fits depends on what you're protecting and for how long.
Term
Term life insurance
Generally designed to provide coverage for a set period — commonly something like 10, 20 or 30 years, depending on the policy.
Often considered when the need is tied to a stretch of time:
- The years you're raising children
- The years left on a mortgage
- The years you'd still be earning
- A large debt with an end date
Permanent
Permanent life insurance
Designed to stay in force long term rather than ending on a set date — subject to the terms of the contract and the required premiums being paid.
Sometimes considered where a need isn't expected to end, or where there are estate or business reasons to look at it. It comes in more than one form.
Two permanent forms
Whole Life and Universal Life
Whole Life generally has premiums and coverage set out in the contract from the start, with terms that don't change on their own.
Universal Life separates the insurance cost from an account component, which gives more flexibility and more moving parts. How any of it behaves is governed by the contract.
Two fair questions
"Do I actually need this right now?"
"I'm young and healthy."
Then you may well have time, and being young and healthy doesn't mean you automatically need a policy today. That's a real answer, not a sales dodge.
Worth knowing though: age and health are part of how an insurer assesses any application, so waiting isn't always neutral. That's a reason to look at it properly, not a reason to rush.
"I don't have kids."
Life insurance isn't only for parents. It's worth a look if there's a partner who shares your bills, debt someone co-signed, a business with obligations, or family here or overseas who count on your support.
And if none of that applies — if nobody would be financially affected — then you may genuinely have very little need for life insurance right now. I'd rather tell you that than invent a reason.
How this works
Five steps, starting with you rather than a product
- 1
Start with your life
Who depends on you, and what you're financially responsible for.
- 2
Look at what you already have
Personal coverage, your workplace plan, savings and anything else already standing behind your family.
- 3
Work out the actual need
Not a formula — the amount that solves the specific problem we've just named.
- 4
Compare the options
What each one does, what it costs, what it doesn't cover, and the trade-offs between them.
- 5
You decide
Nothing here assumes the biggest or the most permanent option is the right one.
Who you'd be talking to
You don't need to become an insurance expert.
You just need enough clarity to make a decision you'd still stand behind in five years. That's the whole job as I see it.
I spent years following financial advice I didn't understand, because nobody slowed down to explain it. So if I say something that doesn't land, stop me — I'll say it differently.
- Licensed Life Insurance Professional
- Licensed in Ontario and Alberta
- Plain language, no product pitch
- No pressure to decide anything on the call
“
Menchie took the time to understand my specific circumstances and walked me through my options in a clear, honest, and thoughtful way. She explained everything in terms I could understand. Her recommendations were not only comprehensive but also showed that she truly had my best interest at heart.
Celine L
Client
Start the conversation
Let's figure out what you're actually trying to protect
A few quick questions so the first conversation starts somewhere useful. This is an inquiry, not an insurance application.
Your life insurance inquiry is in.
The next step is a conversation about who or what you're trying to protect, and which options are worth exploring for that.
Want to choose a time now?
Picking a slot yourself is usually faster than going back and forth.
Questions people ask
Life insurance FAQ
How much life insurance do I need?
It depends on what you're protecting and for how long. We'd look at the income that would need replacing, your mortgage and debts, who depends on you, what savings and coverage you already have, and what fits your budget. I don't use a fixed multiplier, because two families with the same income can need very different amounts.
What's the difference between Term and Permanent life insurance?
Broadly, term is designed to cover a set period, and permanent is designed to stay in force long term subject to the contract terms and required premiums. Which suits you depends on whether the need you're covering has an end date. The specifics are always governed by the individual policy.
Is Term or Permanent better?
Neither, as a general rule. They're built for different problems. A need that ends when the mortgage is paid off looks different from one that doesn't end at all. The honest answer only comes after we've worked out which you have.
How much does life insurance cost?
It varies a great deal. Cost depends on things like the amount of coverage, the type of policy, your age, your health and the insurer's own assessment. Anyone quoting you a figure before knowing those things is guessing. I'd rather show you real numbers for your situation.
Do I need a medical exam?
It depends on the insurer, the product and the amount of coverage applied for. Some applications involve medical requirements and some don't. This is decided by the insurer's underwriting process, not by me, and I'll tell you what to expect once we know which application we're talking about.
Can I get insurance if I have a medical condition?
Possibly. Insurers assess health conditions differently from each other, and the outcome depends on the condition, your overall situation and the insurer's underwriting. I can't promise an approval — no advisor can — but having a condition doesn't automatically rule out every option, and it's worth finding out rather than assuming.
I already have insurance through work. Is that enough?
Sometimes it is, and sometimes it isn't. Group plans differ widely in how much they cover, whether the amount changes, and what happens if you leave the job. Your plan documents determine your actual coverage. It's worth reading them, and I can help you work out what to ask.
What if I already have a personal policy?
Then a policy review is probably a better starting point than this page. That's a conversation about the coverage you already own — what it does, how long it lasts and whether it still fits — rather than about buying anything new. See how a policy review works →
Can I arrange coverage for my spouse or partner?
Coverage on another adult generally requires their involvement and consent, and they'd go through the insurer's process themselves. Plenty of couples look at their situation together, which usually works better than doing it separately.
How long does the application process take?
It varies by insurer and by what the underwriting process requires for a particular application. Some are quick; some take longer if further information is needed. I'd rather set an accurate expectation once we know which application we're making than promise a timeline I can't control.
Where to start
Your family doesn't need you to know every insurance term.
They need you to make a decision you understand.