Updated: Mar 5, 2021
The thought of undertaking the process of a full financial plan can feel overwhelming, especially when a foundation has not yet been established There are several layers to financial planning and it is important to ensure that your basic, or primary financial needs are met before you start making financial decisions with higher risk levels.
According to Jim Ruta, Canada’s leading Life Insurance industry thought leader and analyst, this simple pyramid perfectly illustrates when it may be time to seek professional assistance with your financial planning process and what you need to have in place to get to that point.
Starting from the bottom of the pyramid, form your foundation and then, one by one, check off the fundamental items before moving upwards to get to the core financial plan and beyond.
Term Life Insurance and Critical Illness Insurance are two products that should be part of everyone's primary financial plan. These items should be budgeted for, and purchased before you tackle a full financial plan.
It is now easier than ever to purchase both Life Insurance and Critical Illness Insurance online. No medical exam, no sales calls... no excuses not to get your foundation started. Apply now.