fbpx
Canada Best Health Insurance Companies banner

Institutions, agents and/or brokers from these companies may be competing for your business

Quebec City Life Insurance

Quebec City Life Insurance

Quebec City is one of the most affordable and least expensive cities in Canada. For a single individual, the cost of living in the city is roughly $2,000 per month, including rent, groceries, transportation, utilities and so forth. However, the cost may add up if you have a family or a child.

Here is a breakdown of the expenses.

Rent

The average cost of rent in Quebec City center is $731 for a one-bedroom apartment per month. The average cost for a detached home is $240,000.

Utilities

Utilities include electricity, water, natural gas, and even cell phones. In Quebec City, utility expenses can account for $60 – $120 each month.

Groceries

The average household grocery in Quebec City is $50 a week; this adds up to $200 a month.

Transportation

An adult pass in Quebec City costs $85.6 per month. The transportation cost is even higher (up to $500) if you have a car.

To learn more about Quebec City, click here.

Why Quebec City Life Insurance is Important for All Quebec City Residents

Even though the cost of living in Quebec City is relatively low and the cost for singles is even lower, the cost of living is not expected to decrease but rather increase. In fact, you will likely spend more over time especially if you have a child or family. The best way to protect yourself and your family is by obtaining a reliable, affordable and robust Quebec City life insurance coverage that will be sufficient for you and your loved ones. This will save you and your loved ones from financial strain if you lose your source of income or die.

To read more about Quebec City life insurance, click here.

How Much Should Be the Minimum Insurance Coverage Be For a Quebec City Resident

The minimum insurance coverage for individuals in Quebec City varies and depends on factors like the individuals’ yearly income and cost of living. Essentially, you need Quebec City life insurance coverage at least the same value of your yearly cost of living or ten times your annual income. In other words, if you earn $70,000 per annum, your Quebec City life insurance coverage should be at least $700,000. This is important to ensure that the coverage is not just sufficient but also adequate.

Life Expectancy for Quebec City Residents

Quebec City residents have a life expectancy of 78.8 years for males and 83.4 years for females. But generally, the average life expectancy for residents in the city is 81.2 years.

icon

Life Insurance By Provider

Learn about life insurance plans by providers.

icon

Life Insurance By City

Learn about life insurance plans by city.

icon

Life Insurance By Province

Learn about life insurance plans by province.

How Much Are Quebec City Life Insurance Rates

Life insurance rates in Quebec City are determined by a number of factors. You need to know these factors in order to choose appropriate coverage for you. Moreover, before choosing Quebec City life insurance coverage, you should ask yourself a few questions and answer them to be able to choose the appropriate coverage for you. Here are the questions to answer.

  • What is the amount of Quebec City 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?
  • Which Quebec City life insurance company should I choose?
  • Should I purchase a Quebec City life insurance product from an insurance company, a bank or an insurance broker?

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

Quebec City Life Insurance News

Caisse de dépôt et placement du Québec (CDPQ) announced that it is loaning up to $150 million to SSQ Insurance, a life insurance and investment company located in Quebec City.

The transaction will enable SSQ to improve its capital structure and further achieve the execution of its strategic plans. The insurance provider plans to focus on innovation and development across Canada. It will also enable SSQ to continue its digital transformation program to ensure that the rapidly changing needs of its clients are efficiently and continuously met, especially in the insurance industry.

The Senior Vice President of Finance at SSQ Insurance, Patrick Cyr, said the transaction is an element of the capital optimization approach they have recently taken. He expressed their appreciation for the trust CDPQ puts on them. Cyr pointed out that SSQ has been partners with CDPQ for several years and the announcement demonstrates their shared interest in continuing a business relationship that would benefit both organizations.

Marc Cormier, the Executive Vice-President, Fixed Income at CDPQ said they are pleased to reaffirm their trust in the continuing partnership and also supports the SSQ Insurance growth plan. The insurance industry is aligned with the investment profile sought by CDPQ due to its resistance to economic cycles. Moreover, CDPQ is not only investing in Canadian insurance companies but it recently invested in insurance companies in Australia, the United States, and the United Kingdom.

To learn more about Quebec City life insurance news click here.

Speak To An Expert

Get a Quote