Why buy life insurance? Why not just invest the money?

One argument against life insurance is “why don’t I just take the money and invest it”? That is a perfectly good argument IF everyone knew for sure that they weren’t going to be 1 out of 4 Canadians expected to die from cancer, while 15% of all cancer deaths occur in people under the age of 60. Or pick your worst fear: other diseases, car accident, heart attack, stroke.

Insurance protects you financially starting the day the policy is put in force. One year later you might have spent $275 in policy premiums or invested $275 if you opted to save and invest instead of buying the life insurance. If a death occurs, the full $500,000 (from my earlier example) would be paid out tax-free as opposed to having saved and invested $275.

Stay tuned for more articles around Insurance. We hope you will find this information valuable and will increase your financial confidence. You can always find these articles on our website www.actionfinancialgroup.com.


Karin Rimnyak, Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.


David Dryburgh, Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.


Ian Barrie,
Certified Financial Planner®
Investment Advisor, iA Private Wealth
Insurance Advisor, Action Financial Group Ltd.


This information has been prepared by Karin Rimnyak who is an investment Advisor for iA Private Wealth. Opinions expressed in this email are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth. iA private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.

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