Do I Need Life Insurance?

Answer 5 short questions for an educational assessment — not financial advice.

1. Does anyone depend on your income?

Think about a spouse, partner, or other adult who relies on your earnings to cover shared expenses like rent, mortgage, or living costs.

Question 1 of 5

2. Do you have children or other dependants?

Dependants include minor children, adult children still in school, elderly parents you support financially, or anyone else who depends on you for care.

Question 2 of 5

3. Do you have a mortgage or significant debts?

This includes a home mortgage, business loans, significant personal debt, or other obligations that would fall on someone else (or your estate) if you died.

Question 3 of 5

4. Would someone need help covering your final expenses?

Final expenses include funeral costs, legal fees, and estate administration — often $15,000–$30,000 or more in Canada. Would these fall on someone else without coverage?

Question 4 of 5

5. Do you currently have any life insurance coverage?

This could be a policy you own personally, group insurance through an employer or association, or coverage through a spouse's plan.

Question 5 of 5