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Calgary Life Insurance

Calgary is one of the most expensive cities in Canada, ranked number 4, below Toronto, Vancouver, and Montreal. According to Mercer’s 2018 ranking, Calgary was ranked 154th in the world.  If you are living alone, you could spend up to $1500 – $2000 each month on groceries, utilities, rent, and transportation. You should budget an additional $300-$400 per month if you have a child. Here is a breakdown of the expenses. Rent The average cost of rent in Calgary is $600 – $1200 for a one bedroom apartment, $800 – $2000 per month for a two bedroom apartment, and $1,200 to $2,800 per month for a three bedroom apartment. Utilities Utilities include electricity, water, natural gas, and even cell phones. In Calgary, utility expenses can account for $70 – $110 each month. Groceries The average household grocery in Calgary is $50 a week; this adds up to $200 a month. Transportation An adult pass in Calgary costs $99 per month. The transportation cost is even higher (up to $500) if you have a car. To learn more about Calgary, click here.

Why Calgary Life Insurance is Important for All Calgary Residents

The cost of living in Calgary, just like any other city in the world, would increase by the day. Although you may spend a little less if you are single, the cost may add up if you have a child. You need a robust, reliable and affordable Calgary life insurance coverage to support your dependents in the event of your death or loss of income. One way to protect the future of your family and loved ones is by going for a suitable life insurance coverage for Calgary residents. To read more about Calgary life insurance, click here.

How Much Should Be the Minimum Insurance Coverage Be For a Calgary Resident There are two major ways of determining the Calgary life insurance coverage for you. You either look at it by considering your yearly income or the total cost of living in Calgary. Typically, your life insurance coverage should be up to ten times your annual income. The cost of living varies in Calgary depending on your family size. However, your cost of living should be equal to or greater than your cost of living per year.

Life Expectancy for Calgary Residents Calgary has a life expectancy of 78.5 years for males and 83.0 years for females. However, the life expectancy for Canadian males is 78.8 years and 83.3 years for females.

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How Much Are Calgary Life Insurance Rates Calgary life insurance rates are determined by a lot of factors. Moreover, you need to ask yourself and answer a number of questions before choosing a life insurance coverage in Calgary. Here are some these questions.

  • How much Calgary life insurance coverage do I really need and how long do I need the coverage?
  • Which life insurance coverage should I go for? (such as term life, whole life, and universal life insurance)
  • Which life insurance company do I choose?
  • Is it better to buy a Calgary life insurance product from an insurance broker, an insurance company or a bank?

To find more information about where to buy Calgary life insurance click here.

Calgary Life Insurance News Seema Minhas-Randhawa lost her husband, Harpreet Randhawa, on December 13, a day after she and her daughter had their birthdays. Harpreet was the major source of the family’s income because Minhas has health issues including slipped discs, multiple hospital visits, and major back surgery. Minhas regretted not getting life insurance and now urges people to do what she and her husband failed to do. “We always said next week, next month we will get it done”, said Minhas-Randhawa. Minhas said she and her husband were so focused on her health issues and never imaged that Harpreet could be gone since he was the healthy one. She emphasized that this could happen to anyone but advised others not to wait or delay in getting their life insurance. Harpreet was an incredible provider and sometimes does two jobs at the same time to provide for her and her daughter. He dealt with everything, Minhas-Randhawa said. According to Minhas didn’t even know the accounts they had but luckily their bank knows them. Minhas and her husband did not have either mortgage insurance or life insurance because they were always working on it thinking they would do it next month. As a result of the lack of incomes, Minhas is left with no income and bills are piling up. But luckily for Minhas, Chris Powell, a former co-worker and close friend of Harpreet, hopes to help. Powell is setting up a fundraising campaign for Minhas and her daughter to take some of the pressures off Minhas. Minhas hopes others can learn from her mistakes and get it done because no one never knows. To learn more about Calgary life insurance news click here.

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