How to decide how much life insurance is enough

Purchasing coverage requires evaluation of circumstances

TORONTO, April 20, 2011 - It is common for the average Canadian to wonder how much life insurance they should consider purchasing in order to meet their family's needs. If the life insurance shoppers at Kanetix.ca are any indication, there is no one-size fits all answer; in fact the two most popular ranges are vastly different. Twenty-eight per cent of quote comparisons on Kanetix.ca for single coverage policies ranged from $100,000 to $200,000 while another 28 per cent were for policies between $500,000 and $1 million.

In How much life insurance is enough life insurance? Kanetix® outlines some of the considerations an individual or married couple should keep in mind when calculating how much life insurance they really need. Kanetix® suggests that life insurance shoppers take the time to sit down and evaluate their situation before comparison shopping.

Kanetix® offers life insurance quotes for policies from $50,000 to $2 million. There are a variety of life insurance products available for quoting as well, from a Term 10 life insurance policy to a Term 100 policy. Life insurance shoppers have a variety of options available to them and the most important first step is to comparison shop for their life insurance needs.

Regardless of when someone decides to purchase life insurance, Kanetix.ca reminds customers, as their life changes, so will their policy coverage. For example, single family coverage will change upon buying a home, getting married and having children.

About Kanetix®

Launched in October 1999, Kanetix was Canada's first online insurance marketplace. The Kanetix marketplace has since grown to include not only online insurance comparisons, but also mortgage rates and credit cards making it Canada's leading national, online insurance, mortgage and credit card comparison service.

The Kanetix comparison shopping service brings together insurance, mortgage and credit card providers in a one-stop shopping environment for consumers looking to save money. Each day, thousands of consumers visit the Kanetix website at www.kanetix.ca to compare insurance and mortgage quotes as well as credit cards from a variety of Canadian financial product suppliers. Users select the product of their choice, obtain a quotation and complete an online application or, with the help of Kanetix, connect with the provider to purchase or apply for the product over the phone.

For more information, visit Kanetix.ca or contact:

Kanetix Ltd.
publicrelations@kanetix.ca.