Why Your Family Needs Life Insurance
Life insurance is not just a policy — it’s a plan. A plan to protect the people who depend on you. But how do you know how much is enough?
At Véracité LD, we work with Canadian families to calculate personalized life insurance needs that go beyond guesswork or generic advice.
Why Coverage Varies by Family
If you’re 28, single, and renting an apartment, your needs are very different from someone who’s 45 with three kids, a mortgage, and a spouse who relies on their income.
Life insurance should match:
- Your income
- Your dependents’ needs
- Your debt load (mortgage, credit cards, car)
- Your financial goals (education, retirement, legacy)
General Rule: 10–12x Your Income
A common starting point is to multiply your gross annual income by 10 to 12. For example, a Canadian making $75,000 might consider $750,000–$900,000 in coverage.
However, this doesn’t factor in:
- RRSP/TFSA savings
- Number of children
- Childcare or tuition expenses
- Whether your spouse could continue working
It’s just a guide — not the final answer.
Your Life Changes, So Should Your Policy
Life isn’t static. If any of these apply to you, it’s time for an update:
- New baby
- Bought a home
- Started a business
- Recently married or divorced
- Children approaching university
Free Personalized Coverage Review
We offer a complimentary Financial Needs Analysis to help Canadians like you get the right coverage — no more, no less.
📞 Canada: +1 (438) 871-4889
📧 info@veracityld.com
🌐 veracityld.ca
📅 Book a free consultation
