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Edmonton Life Insurance Plans

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Edmonton Life Insurance Overview

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Edmonton is the capital city of the Canadian province of Alberta and the second most populated and also the second most expensive city in the province, besides Calgary. The cost of rent, groceries, utility, and transportation in Edmonton is up to $1500 – $2000 per month. If you have a child, you should budget an additional $500 – $900 per month. Here is a breakdown of the expenses. Rent The average cost of rent in Edmonton for a single adult is $600 – $1200 for a one bedroom apartment per month, $800 – $2000 per month for a two bedroom apartment and $1200 – $2800 per month for a three bedroom apartment per month. However, this depends on the location, type, and size of the apartment. Utilities Utilities include electricity, water, natural gas, and even cell phones. In Edmonton, utility expenses can account for $240 – $450 each month. Groceries Edmonton residents spend about $50 – $60 each week for groceries; this adds up to $200 – $300 in a month. Transportation The cost of a monthly pass in Edmonton is $91.50 and an adult day pass costs $9.25. The transportation cost is higher if you have a car owing to the cost of insurance, vehicle maintenance, and vehicle payment. To learn more about Edmonton, click here.

Why Life Insurance is important for Edmonton residents?

Edmonton’s position and status in Alberta make it expensive and just like every other big city, the cost of living in Edmonton is expected to increase by the day. If you are living in a big city like Edmonton, you owe it to yourself and to your dependents to get a reliable and robust life insurance coverage. You need Edmonton life insurance to protect your family, loved ones and dependents in the event of your death or loss of income. This would ensure that they will not be in the red if the unexpected occurs. To read more about Edmonton life insurance, click here.

What is the minimum insurance coverage for Edmonton residents?

Knowing the right amount of coverage to go for can save you a great deal. There are basically two ways to determine the appropriate insurance coverage for you. One way is by calculating it from your annual income and the other is by your annual cost of living. For the first method, your life insurance should be a minimum of ten times your annual income. So, if your annual income is $45,000, you need minimum life insurance coverage of $450,000. Also, your Edmonton life insurance coverage should be at least your annual cost of living.

What is the life expectancy for Edmonton residents?

The life expectancy of Edmonton residents is 78.5 years for males and 83.0 for females. The average life expectancy for Edmonton residents (both male and female) is 80.7 years.

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What are the Life Insurance rates in Edmonton?

A lot of factors affect Edmonton life insurance rates and it is important to take these factors into consideration when choosing a life insurance coverage in Edmonton. In other words, you need to answer a few questions before choosing life insurance coverage in the city. Here are some of the important questions to answer.

  • What is the amount of Calgary life insurance coverage I need and how long do I need the coverage?
  • Which life insurance coverage do I need? (term life, whole life or universal life insurance).
  • What life insurance company should I choose?
  • Where should I buy insurance products? From an insurance broker, bank or an insurance company?

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

Edmonton Life Insurance News

A new life insurance brokerage, known as “Reassured For Life”, has been established in Edmonton in July 2017. The brokerage aims at serving families in the western provinces as well as businesses by providing their life insurance needs. In a statement, the owner and licensed broker of Reassured For Life, Nerissa McNaughton, pointed out that he launched Reassured For Life because he knows talking about life, sickness, accident, business, and health insurance can be difficult but it is a necessity. McNaughton pointed out that his company was established to make it easy and to serve Albertans. McNaughton added that he has access to all life insurance products in Canada, as a broker. McNaughton’s approach is to provide Albertans with information to make it easy for them to make their own decisions with respect to the coverage they need. He also added that Reassured For Life does not employ requests for referral names and numbers or pushy sales tactics. Nerissa aims at providing Albertans the life insurance they need in the most convenient and comfortable way. The firm does not focus on making sales but on helping business owners and families to make the best and most informed decision with respect to their financial situations and needs. To learn more about Edmonton life insurance news click here.