Risk Averse and Risky: Why Canadians Need a Life Insurance Quote

As we well know, owning a vehicle of any kind is a big responsibility and like any big responsibility, a person's main objective is to stay accident free. However, getting insurance is a time consuming hassle but one that you must take in order to save money month after month. People find themselves paying ridiculous amounts of money for the insurance for their car or motorcycle hoping to get a break as well as save a little extra money, and I thought I was doing the same thing when I had my car but the insurance company gave me so little while having me pay so much for the car insurance.
Case in point, I remember when I bought my first car and I remember that I had to buy some insurance for it. So, I got online to research and saw a lot of insurance companies who were making good offers but those same ones were very expensive. I bought some cheap insurance for my car but the price was more than I could pay and I still had rent to pay, I was coming out of my pocket 100 dollars every month for the insurance which I hated because I always came up a little short on the rent.
Another reason why I hated paying for my insurance every month was because the insurance company I was with promised me that after I was with them for 3 months, my next due payment would only be 70 dollars instead of 100 dollars. However, when that next month came, I discovered that my payment was still 100 dollars; I later learned that I wouldn't qualify for the 30 dollar decrease unless I was with the car insurance company for one year. I felt so betrayed by the insurance company because I really thought that they had my best interest at heart.
The really bad thing about the car insurance that I was paying every month was that it was only liability insurance which didn't really cover everything, I also discovered that if I was ever in an accident then I was responsible for finding my own auto body shop which sucked for me because I didn't have the time to do that or worry about it. I hated paying for the insurance every month because I felt like every time I was there the rules would change and I felt like I had to give them more and more money in order to keep my car insured.
The biggest negative experience with the car insurance company was when I finally did have an accident which was a hit and run from the other driver, and the liability insurance didn't cover anything. When I called the insurance company to inform them of what happened, they told me that the situation was out of their hands and they couldn't fix it. The news only got worse, the insurance company also told me that I had to pay to get my car towed to a shop even though they told me in the beginning that the liability would cover the towing as well.
In closing, be mindful when you're buying car insurance because you might be getting ripped off when you think that you're getting a good deal or saving money.

Risk Averse and Risky: Why Canadians Need a Life Insurance Quote

One of the most bandied about terms in the insurance industry is the ever mutable concept of "risk". Risk assessment is a core component of how insurance brokers determine coverage and premiums for their clients, understanding the client's history, expectations of coverage, and liabilities in providing an insurance package while still remaining profitable.
However on the consumer side of the insurance industry, risk has been transposed to mean an aversion or distrust of insurance. The most common phrases you'll hear when people decide not to purchase insurance is "Oh, it's not for me", "That will never happen to me", and the myopic "I'll think about when I'm older".
The late Andy Rooney said it best when he called death "... a distant rumor to the young."
The 2013 RBC Insurance Poll indicated a rather startling trend in Canadians today, particularly on fathers. It's estimated that up to 30% of Canadian fathers do not own any form of life insurance, and do not seek a quote on such. The reasons? 44% of the uninsured believe they have enough investments and other resources to provide for their family. While personal savings can go a long way in securing your family's future when you die, the same poll reported that two out of the five participants had no idea how much their families would actually need when they're gone.
Overall, it's estimated that one in three Canadians adults have no form of life insurance, and are less likely to seek a quote to find what life insurance can offer them. The greatest risk being adults 18-29 and seniors over the age of 59. The reality of the rationalization of the uninsured stems from two major beliefs: that insurance isn't worth the financial risk, or that this risk does not apply to them.
And understandably, with a population so grossly undereducated about insurance policies, life insurance has come be seen as akin to homeowner's, disability, or auto insurance: "Nice to have if it happens, but what if it doesn't happen?" Life insurance, in reality, is conversely risk-free. No one in the world proposes to live forever, so why has life insurance been seen as a risky decision? Interestingly, 22% of Canadians without life insurance have responded that they admit they should have a policy, yet don't evaluate their options or quote their costs.
Short-sighted planning is one cause, particularly among younger demographics. With a cultural presence and ethos increasingly centered in the "now", Canadians feel that planning for the future simply isn't worth the time, effort, and money. Life insurance through an employer is one solution, but this insurance isn't portable and won't protect you if you're laid off or terminated from your job. Furthermore, long-term planning for life insurance guarantees younger adults can obtain lower premiums and greater protection when they start a family or purchase a home. With a market saturated with product options, and ready access to life insurance quotes, this lack of initiative is to blame on the consumer. Life insurance companies want to sell, but consumers are hesitant to buy.
The other issue is simply knowledge, and this affects all demographics equally, though in different ways. Someone in poor health, a senior, or someone who's been spurned or denied by insurance companies in the past may not even realize the options available to them. No medical or guaranteed issue insurance may not always offer the grand cash benefit that everyone wants, but reasonable coverage can always be offered to help you settle your affairs and guarantee tax free benefits to your dependants and family. After all, seniors and those with medical issues are still a market demographic for insurance companies, and these companies are increasingly making efforts to be competitive in that environment.
Knowledge is priceless, and a pint of sweat can save a gallon of blood, so to speak. Your passing will always incur financial costs, your estate will always face taxes, your assets will always be distributed, and your family will always benefit from financial aid. Planning early, and planning smartly by researching your life insurance options, obtaining quotes, and researching the market can provide you with peace of mind, and protection for your family. Anything less is just risk taking behavior.