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 Canada Sun Life Financial 4197 OPT CI BI E Formerly 4197 OPT CI E 2013-2025

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how much life insurance is the right amount simply put the amount of life insurance you need depends on your unique situation but there are some guidelines to help you figure out roughly how much life insurance you may need how long you may need it for and what kind might be right for you let's look at an example jackie is a 33 year old married mother of two she has three goals for her life insurance she wants money left to her family to pay off her 300 000 mortgage top up her kids registered education savings plan and replace her 60 000 a year income for 10 years based on these goals jackie is looking at a 1 million life insurance policy if she died her family could spend the money from her insurance payout by putting three hundred thousand dollars toward the mortgage adding a hundred thousand dollars to the kids resps and using six hundred thousand dollars to cover day-to-day expenses over the years how much do life insurance payments cost per month in this example a one mill

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