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A message from Sheridan Alumni partner Canada Life: Do I need Life Insurance?

December 18, 2014

We plan for many things in our lives such as our education and our careers, but there are some things we simply cannot plan for. Life insurance allows us to arrange financial help for those left behind so they can better manage through the unplanned.

The payout from a life insurance policy is typically tax-free and can be used any way your beneficiary wishes. This means the money can be used to pay any outstanding bills or debt left behind or can be used for ongoing living expenses.

The amount of life insurance you need depends on a number of factors ranging from the amount of debt you carry and whether there are members in your family who are able to earn an income once you are gone, to how many dependents you have and how long they will need to rely on the financial support provided from your life insurance.

Your Sheridan College Alumni Office has arranged with Canada Life to provide alumni and their spouses with life insurance at low group rates. Should you require help determining how much coverage your family might need the online calculator is a quick and easy way to help get you started.

You can apply for up to $250,000 in coverage online and may be approved in minutes. Should you decide you need more than $250,000, simply call Canada Life directly and let them know you are a Sheridan alumnus and the amount of coverage you would like to apply for, and they’ll help you from there.

So whether you are purchasing life insurance coverage for the first time or topping up your existing coverage, visit Canada Life online or call them at 1-800-387-0649.

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