Filed Under:Life Insurance, Life Planning Strategies

Underinsurance a problem in Canada, too

(AP Photo/Peter Dejong)
(AP Photo/Peter Dejong)

According to new research from TD Insurance, 94% of Alberta parents surveyed have life insurance. However more than half (59%) don't think their policy will leave enough money to financially support their children up until their 18th birthday.

Nine-in-10 Alberta parents agree that knowing they have the right amount of life insurance would give them peace of mind that their children would be financially secure in the event that something happened to them or their partner. In fact, Canadian parents who understand what protection their life insurance offers are less likely to be quite worried or extremely worried about their children's financial security in comparison to those who don't understand their coverage (34% versus 42%).

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Nichole Morford

Nichole Morford
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