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Ottawa - Gatineau Life Insurance Overview


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Ottawa-Gatineau is Canada’s Capital Region, known as the National Capital Region. Ottawa has a cost of living index of 66.35. The cost of living in the Ottawa-Gatineau region is high but it can be considered relatively low when compared to some other big cities such as Toronto and Vancouver. The estimated monthly expense for a single person is $997.60, while the estimated monthly expense for a family of four is $3,618.78. Here is a breakdown of the expenses. Rent The average cost of rent for a one-bedroom apartment in Ottawa–Gatineau is $1,154.98 per month, the cost of a two-bedroom apartment is up to $1,400 per month while the cost of a three-bedroom apartment in the city center is $1,950 per month. Utilities Utilities include electricity, water, natural gas, and even cell phones. In Ottawa–Gatineau, utility expenses can account for $200 each month. Groceries The average household grocery in Ottawa–Gatineau is $50 a week; this adds up to $200 a month. Transportation An adult pass in Ottawa–Gatineau costs $103.25 per month. The transportation cost is even higher (up to $500) if you have a car. To learn more about Ottawa–Gatineau, click here.

Ottawa - Gatineau Life Insurance Details


Why Life Insurance is important for Ottawa – Gatineau Residents?

The cost of living in the Ottawa-Gatineau region is high. A single person in Ottawa can spend up to $1,000 in a month but the cost can easily add up if you have a family. The monthly expense for a family of four is up to $3,618.78. In other words, a family of four can spend up to $43,425.36 per month. With the above statistics, you definitely need financial protection for your loved ones and dependents in the event of your death or loss of income. You don’t want your loved ones to suffer financially, do you? You need the right Ottawa-Gatineau life insurance coverage to protect you and your loved ones. To read more about Ottawa–Gatineau life insurance, click here.

What is the minimum insurance coverage for Ottawa – Gatineau residents?

The amount of coverage an individual needs may not be the same as the amount of coverage someone else needs. It is usually better to consider factors like the amount required to pay off your debts, your family’s lifestyle, taxes and financial expenses you might owe, and your children’s education to calculate the amount. As a rule, your Ottawa-Gatineau life insurance coverage should be up to ten times your annual income. You can also determine the minimum life insurance coverage by considering your cost of living. Since the cost of living in Ottawa is $2,691.2 per month and $32,294.4 per year, you need life insurance coverage up to $32,294.4 to ensure adequate financial protection.

What is the life expectancy for Ottawa – Gatineau residents?

Ottawa–Gatineau has an overall life expectancy of 83.6 years; the life expectancy of Ottawa–Gatineau males is 81.9 years, while the life expectancy for Ottawa–Gatineau females is 85.2 years.

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What are the Life Insurance rates in Ottawa – Gatineau?

A lot of factors affect Ottawa-Gatineau life insurance rates. Canadians pay different rates for life insurance coverage. It is important to answer a few questions and put some factors into consideration before opting for Ottawa-Gatineau life insurance coverage.

  • What is the amount of Ottawa-Gatineau life insurance coverage I need and how long do I need it?
  • Should I go for term life, whole life or universal life insurance coverage?
  • What life insurance provider in Ottawa-Gatineau should I choose?
  • Should I buy an Ottawa-Gatineau life insurance product from the bank, an insurance broker or an insurance company?

To find more information about where to buy Ottawa–Gatineau life insurance click here.

Ottawa – Gatineau Life Insurance News

Carson Block, who runs Muddy Waters, said its life insurance subsidiary just finished a trial with a hedge fund that could result in a loss running into billions. Block made the statement while announcing a short position in the firm on Thursday. Muddy Waters believes that investors are not aware of the material risk the trial would pose to Manulife. The hedge fund Mosten Investment LP took Manulife to court as it claims that the amount of capital it should be allowed to deposit to Manulife ought to be unlimited. The hedge fund stated that Manulife earns at least 4% annual interest based on a universal life insurance policy it owns since 1997. Block said in an interview on Bloomberg Television that it is an issue of incompetence from the 1990s. If hedge fund wins, it could be the highest yielding money-market type of product in the developed world. Owing to the issue, Manulife shares went down by 3.89 percent at 21.96 percent. Also, the lawsuit involves a Bank of Montreal operation and Industrial Alliance Financial Group (IA). Both firms refused to comment on the issue. To learn more about Ottawa–Gatineau life insurance news click here.

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