OK, thinking about your own mortality is not a topic anyone enjoys, but our own death is one of the few certainties in life. So why do 38 per cent of Canadians not insure their own life to make sure their family or loved ones are financially protected? While the number of reasons likely match the number of people not insured, the following are the most commonly heard.

Reason #1 - I don't have a need for life insurance.

Let's be honest, this reason is by far the most common and for most people untrue. Unless you are an individual who does not have children, has money on hand to cover all debts and funeral expenses, and does not feel the need to offset the loss of their income to a spouse, leave any additional money to family, or to a charity, then it may be true, you don't need life insurance. But few people have the funds readily available to fulfill all their wishes or meet their obligations after their death.

At the very minimum, if you have anyone who relies on your income for their day-to-day needs like a spouse or children, or if you have debts like a mortgage, then you likely need life insurance.

Reason #2 - Life insurance is too expensive.

If in the past people have found life insurance to be too expensive it could be because of the type of coverage they were seeking, like whole or universal life insurance which often have an investment component built into the policy. Term life insurance, on the other hand, does not have a savings or investment component. It is the most affordable of all the products and is very popular because of it:

Term 10
Term 10 Life insurance, the most popular Term product in Canada, offers a premium guaranteed not to change for 10 years.

A non-smoker seeking $100,000 in coverage could be paying as little as:

Annual Premium
Age Male Female
30 $125 $99
35 $127 $108
40 $151 $128
45 $193 $152
50 $255 $200

Quotes obtained from the Kanetix website April, 2011. Lowest quote shown.

As you can see, for very little money a year, you can get $100,000 in life insurance coverage.

Reason #3 - Life insurance is a hassle to get.

Thanks to the Internet, getting term life insurance quotes is fast and easy. If you want to shop around first, getting quotes online means you can avoid hard-sell tactics by someone sitting across from you.

Online quotes for term insurance are available online at Kanetix from some of Canada's most respected and well-known insurance companies. There is no sales pressure or obligation to buy when you get quotes online. It's easy, can be done any time at your convenience and is simply a better way to shop for life insurance because of it.

Once you get your quotes, you can then opt to speak with a licensed representative. One of the best parts about getting your quotes for term life insurance through Kanetix is that our affiliated life insurance representatives are salaried. That means they will not pressure you to buy a policy unlike many other places. They are simply there to help you get the answers you need about life insurance. If you decide to purchase a policy, they will help you complete your application for coverage over the phone and schedule your paramedical for you if one is needed. Paramedicals can be performed almost anywhere as the health-care providers carry their own supplies and sampling equipment. The person conducting the exam can usually come to your home or work, and can often be in and out in less than 20 minutes!

Reason #4 - I don't know anything about life insurance and don't know where to start

Kanetix has developed a number of free online tools that will help you decide which term life insurance product is best for your specific situation and how much life insurance coverage you should get.

First, try the Term Life Insurance Analyzer. By answering a few simple questions, this tool will assess your needs and let you know what product is most commonly recommended for people in your same situation.

Then, try the Life Insurance Needs Calculator. This tool will help you find out roughly how much life insurance you'll need to have in order to ensure that your family, loved ones and your debts are covered in the event of your death.

Of course finally, you can get term life insurance quotes quickly and easily online through Kanetix. Compare quotes, compare companies and compare your options; it's easy.

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