About Getting Life Insurance In Edmonton
Life insurance in Edmonton is one of the many insurance products to consider. But rather than focusing on protection now, it is about protecting your family financially in the future when you are gone.
Living in Edmonton affords you a variety of life insurance plan option from the top provider in the industry. Living in Edmonton, compared to other cities, can affect your premiums. But not as much as your personal attributes such as your age, health, and wellness.
With ThinkInsure you have options. Get the financial security you deserve. We’ll help you explore coverage options that make the most sense for you. This starts with comparing life insurance quotes.
Edmonton Life Insurance 101
The place you choose to live has a big impact on your cost of living. It also affects your need for life insurance. Edmonton residents have higher total assets than the average Canadian resident.
But, 1 in 4 have also missed a payment on their credit report. So, debt and affordability are top of mind in the city.
The more assets and debt you have will increase your need for life insurance. This is a reason Edmontonian residents, like other Albertans, have the highest average individual life insurance plans in the country.
A report by Borrowell provides a breakdown of Edmontonian consumer debt:
- Homeowners have an average debt of $350,665
- Of this, $314,863 is mortgage debt, and $35,802 is non-mortgage debt
- Non-homeowners have a debt of $22,258
If you are concerned about the potential impact your financial obligations could have on your dependants if you pass, life insurance can put your mind at ease.