Everyone needs Life Insurance, and that includes work from home moms.
In February I made one of the biggest changes in my life, I resigned from my job of 11 years and made the decision to start working from home. While it was planned, there are still many things that I didn’t think of, and honestly, there were some things that I was a little naive about. One of those things was Life Insurance. I thought ‘well Kris has it we should be covered’ but after doing some research on the Canada Protection Plan website I knew that I needed to cover my bases too.
Anytime I need to do something important it requires precise planning on my end. Snacks ready for Carter and Sophie, a favourite T.V. show on, and scheduled around Finn’s nap time nap time to ensure that I can pay full attention to what needs to get done in an ample amount of time. The call in total took 25 minutes, which left me time to sit and have a coffee in silence. (Unheard of with 3 kids, I know) After a few questions about my lifestyle, how much my husband and I owe on our mortgage and other debts, the age of our children, and our plans for the future I was given several options to choose from with Canada Protection Plan. The advisor was also helpful in telling me about things to consider that I didn’t even think of, like post-secondary and funeral costs.
The best part about this process it was done over the phone, and that was all that needed to be done. No need to go for a doctor’s visit for a physical or to have multiple blood tests taken. Making this a not only convenient process for me as a busy mom but also making this a perfect option for someone who may also have medical conditions that would otherwise disqualify them from a plan. It’s also great because the Canada Protection Plan is available to people ages 18-80 for Life Insurance with both permanent and term plans giving me the option for 25 years of coverage. That would take me through the biggest years of our life and could cover things like a mortgage, putting the kids through school, and any other costs that may arise should something unfortunate happen to me.
Making the decision to work at home also meant a pay cut for me, so it had to fit into our budget. With all the options chosen and maxed out my calculated monthly payments came to less that what it would cost to fill up our truck or go out for a family dinner. Because Canada Protection Plan offers coverage starting at $1,000 up to $500,000 (as well as the option to add up to an additional $250,000 if death is accidental), I could also tell them what I could afford and they would work with me to get coverage that fit into my budget.