Insurance Flow Chart Hand

INSURANCE

Last Updated: June, 2020

Types of Insurance

Most of us need some type of insurance in Canada. Different people have different insurance needs.

Start by understanding what kind of insurance you need and how much coverage you should have.

Knowing your insurance options is an essential part of the financial planning process.

Insurance Flow Chart Hand

The first step in deciding the types and amounts of insurance you need is to determine the risks you face. If you own or lease a car, Canadian law requires you to have car insurance.

If you own your own home, you will need to insure it against theft, damage from fire, and other natural disasters. If you have a family to support, you will need enough life insurance to replace your income.

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