Estate Planning - Estate Planning - I’m self insured, I don’t need life insurance (Video 3)

'I’m self-insured, I don’t need life insurance.'

"I love it when people say things like, 'I’m self-insured, I don’t need life insurance.' I find this to be the most bizarre of comments because, as far as I’m concerned, everyone needs life insurance. You just don’t always need it for the same reason.

Life insurance becomes crucial for preserving their legacy

Traditionally, people have life insurance coverage when there are debts like mortgages and to ensure an income when children are young. But when people reach their 60s and beyond, life insurance becomes crucial for preserving their legacy. In fact, the more wealth you have, the more important 'permanent life insurance' becomes.

It acts as a safeguard, reimbursing a family after the CRA swoops in and carves out upwards of 53% of an estate. Insurance creates wealth for those who don’t have it, but more importantly, it preserves wealth for those who do.

Learn more about life insurance. At Tayler Insurance & Estate Planning, we help grow your wealth, minimize taxes, and plan to protect your legacy."