One of the most common questions I hear is:
“How much life insurance is enough?”
The honest answer?
Most people either have too little—or far too much.
Start With What Matters Most
Life insurance isn’t about a number.
It’s about protecting:
- Your family’s lifestyle
- Your debts and obligations
- Your legacy
A Simple Framework
Here’s how I guide clients:
- Income Replacement
How many years of income would your family need?
- Debt Coverage
- Mortgage
- Loans
- Business liabilities
- Future Needs
- Education
- Retirement for your spouse
Where People Go Wrong
- Buying based on what a friend has
- Choosing the cheapest option
- Not reviewing coverage over time
Life changes—your insurance should too.
Term vs Permanent (Quick Insight)
- Term Insurance: Cost-effective, temporary protection
- Permanent Insurance: Lifetime coverage + estate planning benefits
The right answer is often a combination.
Final Thought
Life insurance is not about fear—it’s about certainty.
It ensures that the people you care about are protected, no matter what happens.
If you’re unsure whether your coverage is right, let’s take a look together.
-> Visit www.orcawealth.ca to book a review.
