About Buying Life Insurance In Calgary
If you are thinking about buying life insurance in Calgary, you’re not alone. It is one of the biggest markets for life insurance in all of Canada. So, comparing quotes is not as difficult as you may think, especially if you choose ThinkInsure.
Life insurance is a terrific way to ensure your loved ones are cared for when you die. It provides them with a financial cushion to cover final expenses and other debts. Our life insurance advisors help you explore your choices, explain coverage options, and ensure you get the best rate when shopping for life insurance in Calgary. Learn more below!
Calgary Life Insurance 101
The cost of living is a common topic of debate for Calgarians. Even though housing prices are lower compared to other top cities, and it is one of the countries highest net worth areas, debt remains a concern.
Calgary residents have the highest amount of non-mortgage related debt of all large cities in the country. 1 in 4 consumers in the area have a missed payment on their credit report according to a recent report from Borrowell. They provide a breakdown of consumer debt for Calgarians:
- Homeowners have an average debt of $390, 698
- Of this, $354,368 is mortgage debt, and $36,330 is non-mortgage debt
- Non-homeowners have a debt of $23,762
A life insurance policy can help you ensure your debts are covered if you pass away.