The Scary Truth About Not Having Insurance

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With Halloween happening at the end of this month, there is no doubt that many of you may be partaking in the festivities by watching horror movies, eating copious amounts of candy and taking your children out trick or treating. With all the ghost, goblins and witches that will be on our streets over the next few weeks, I felt compelled to write a post about something potentially horrifying – not having insurance. According to a study conducted by the investment firm Edward Jones, less than one-third of Canadians have insurance coverage for serious life events. The study goes on to say that 23% of Canadians answered that they are not financially prepared if they pass away too soon and only16% said that they had purchased life insurance that would cover their remaining mortgage payments should they ever pass away.*

With this information, the sheer thought of not having any insurance in place is enough to frighten Jason Voorhees himself. Luckily, there is a solution, and that solution is simple – buy insurance. Now here’s the tricky part, not everyone likes the concept of insurance. At Broker Plus, we try to keep insurance simple, affordable and stress-free by educating you about the benefits of the products while forgoing the jargon that can leave clients scratching their heads. However, we’ve noticed a trend with clients who still feel overwhelmed when they get insurance quotes because, let’s face it, thinking about one’s mortality or morbidity is usually not a happy topic to discuss.

Here are some ways you can navigate through the fog when it comes to insurance:

1. A Quiet Place – find a quiet place that brings some peace to you. Take 5-10 deep breaths before you begin reviewing your options, this will help you think more clearly as opposed to being “stressed” about the thought of your morbidity and mortality. It may be best to get out of the house and find a nice, quiet place (assuming your home has a screaming 20-month-old as mine does) to be able to become fully focused on what your true needs are.
2. The Others – often children get forgotten about when homeowners take out insurance policies when ideally it is the best time to add a child rider to a policy for products such as Term Life. The riders are usually affordable, $10 per month for $20,000 amount of coverage, which is cheaper than two specialty coffees at Starbucks.
3. Let The Right One In – if you’re getting multiple quotes from different companies it can sometimes be hard to make clear decisions without feeling overwhelmed. Broker Plus Insurance has been working with Canadians for over 20 years with our focus on helping mortgage clients be more aware of the different options that are available to you.  We also can do partial coverage for folks who are worried about the premium amount or who have additional coverage already in place.
4. As Above, So Below – what if I told you that for those 3 points above Broker Plus Insurance could do all of those things for you? No, it’s not a trick, at Broker Plus Insurance we put your needs first and have a full-service center open five days a week to assist you with any questions you may have. We can even do evening and weekend calls!  We do the shopping around for you, so you can rest assured that we have your best interest in mind and try our best to provide you with the cheapest premium while not sacrificing the quality of the coverage offered.

With a full-service center that genuinely cares about its clients and puts their needs first, does insurance seem that scary? Contact Broker Plus Insurance today for a no-obligation quote to ensure that you and your families insurance needs are being met!

To request a quote on the products we offer, click here.
Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.
*Sources cited from https://www.insurancebusinessmag.com/ca/news/breaking-news/most-canadians-are-underinsured-study-62245.aspx