Most single Canadians are either dangerously underinsured โ exposed to income loss and debt liability โ or paying for coverage they genuinely don't need. Our licensed advisors identify the exact gap, source products across our carrier panel, and explain exactly what we recommend and why.
For most single Canadians, the question isn't "do I need life insurance?" โ it's "who is financially exposed if I die tomorrow?" Co-signed debt, dependent parents, business partners, and future dependants all create legitimate need. Term insurance is almost always the right product for this stage of life.
Your income is your largest financial asset. At age 35 earning $90K, the present value of future earnings exceeds $2 million โ yet most Canadians have no own-occupation disability coverage beyond basic group benefits that expire at 2 years. One disability event without coverage can permanently derail a financial plan.
A tax-free lump-sum payment on diagnosis of a covered condition โ cancer, heart attack, stroke, and 22โ23 others, depending on the policy. Unlike disability insurance, CI pays regardless of whether you can return to work. Most valuable for those with family history of covered conditions or gaps in their DI policy.
Enter your situation below for a rough coverage estimate. Life insurance uses a simplified DIME-method approach (income replacement + debt). Disability sizing is based on income and group benefit gap. A full analysis requires a consultation with a licensed advisor. All figures are illustrative โ actual premiums and coverage recommendations depend on your health, occupation, carrier, and policy terms. Compensation disclosure: we may earn commission from insurance placed through our carrier panel.
Illustrative only. Not a quote or advice. Actual premiums depend on age, health, occupation, province, carrier, and policy terms. A "good" group DI policy reduces โ but rarely eliminates โ the individual DI gap. Consult a licensed advisor for a personalized analysis. WealthFusions advisors earn commission from insurance products.
Whole life or universal life as an "investment" โ sold to young singles as tax-sheltered growth, when a TFSA typically delivers better returns at a fraction of the cost for this stage of life
More life coverage than your actual exposure โ if you have no co-signed debt and no dependants, large term coverage may be expensive optionality you don't yet need
Redundant critical illness stacked on comprehensive disability โ if your DI policy has a partial disability rider and long benefit period, standalone CI may be unnecessary duplication for your situation
Group benefit add-ons duplicating existing coverage โ supplemental health coverage duplicating employer plan line items you're already covered for
No own-occupation disability insurance โ group benefits typically stop at 2 years or switch to "any occupation" definition, leaving you exposed for decades of potential disability
Co-signed debt with no life coverage โ a parent, guarantor, or co-signer absorbs your full debt balance on death. This is a concrete, quantifiable risk that is frequently overlooked
Waiting until you "need" coverage โ every year of delay increases premiums 3โ5%. A health event between now and your planned purchase date can make you uninsurable at standard rates
No beneficiary or successor holder on TFSA โ without proper designation, your TFSA loses its tax-free character on death and flows through the estate, subject to probate
Our advisors are licensed through WFG Canada and earn commission from the insurance products we place. We believe transparency about compensation is the foundation of trust โ so we disclose it clearly, every time.
What that means in practice: we recommend across our carrier panel (IA Financial, Equitable Life, Manulife, ivari, Foresters, Empire Life, and others) โ not from a single preferred carrier. We size coverage to your actual exposure, not to maximize premium. And we explain exactly what we're recommending and why, in plain language, before anything is placed.
WealthFusions advisors earn carrier-paid commissions on insurance products placed through our WFG Canada license. Commission rates vary by product type and carrier. This does not change the advice we provide โ but you should know about it. See our affiliate disclosure for full details.
We source quotes across 12+ authorized carriers. You're not limited to one company's product shelf โ and neither are we.
We calculate your actual financial exposure first. Coverage recommendation follows the math โ not the other way around.
Own-occupation definitions. Elimination periods. Survival clauses. We explain what you're actually buying before you buy it.
Income changes. Debt gets paid down. Dependants arrive. We review your coverage picture annually to keep it aligned with reality.
We map your actual financial exposures: co-signed debt, dependants, income at risk, group benefit gaps, and existing coverage โ and quantify each in dollar terms.
We compare your current coverage to your actual exposure. Every gap is sized and ranked by probability and financial impact.
We recommend the exact product, benefit amount, and carrier for each gap โ with quotes from our carrier panel. We explain what we're recommending and why, in plain language, before anything is placed. Compensation disclosure applies.
Life changes โ income, relationships, debt. We review your insurance picture annually to ensure coverage stays aligned with your actual situation.
Book a free 45-minute insurance review. We'll identify your real exposures, calculate the cost of each risk, and tell you exactly what's worth protecting โ and what's not. Compensation disclosure: we may earn commission from insurance placed.