There are many reasons why a person should have Life Insurance

1) you have bills to pay whether they are business or personal, credit cards, car loans,
    loans on the toys you bought so the family could have more fun   
2) to provide an income for your family because you are the major bread winner
3) you are the owner/ key person in your business and if you die the business will close.
     Employees will be out of  work causing them financial hardship
4) if I die my family will be left with a large capital gain tax problem. Dealing with CRA
     is not pleasant
5)  not all  medical bills are covered by Provincial medical plans. A long illness
     could leave a lot of unpaid medical expenses 

Life insurance is just an injection of cash. This cash, gives your family and
heirs options and time to make decisions without stress.

How Much Coverage Do I Need ?

Family:
To establish the amount you need to replace your income, the accepted formula is to
take your annual income X 10, minus 25%. The plan is to leave behind enough money
for your loved ones to invest, so that at 5%  return  they could receive the same income
as though you where able to provide for them. The less 25% is because expenses should
drop by 25% because you are not a consumer. Add to this “income replacement”, an
amount to cover your final expenses and pay debts( including your mortgage) and you
have a rough total of your insurance needs.

Estate Protection:
This is where you have accumulated  a fair number of assets or wealth. This type of
insurance and the amount is beyond the scope of this website. If you wish assistance
we can work with you, your accounts and lawyers

 Types of Insurance Type and Pricing Get A Quote Contact Us

Bruce A Hollett & Associates
401-1630 Pandosy Street
Kelowna  BC V1Y 1P7
voice 250-861-1006 or 1-866-861-1006  fax 250-861-6177, e-mail  questions@telus