Live for Today - Live in the Now!!!

In the last 8 months of my own personal life, I have been hit with some tremendous life experience and the realization that I am getting older. 

• 15 years ago today, I lost my father to a heart attack.  I have already lived half my life without him, and it still feels like yesterday he was picking me up from the skating arena. 
• In March 2010 my mother suffered a stroke while on vacation in Palm Springs, California.  This shocked my family’s whole world and turned it upside down.
• In November 2010 one of my brothers’s was admitted to the Hospital and told that my family had a genetic disorder that increased the risk of heart disease.  Two weeks later my brother was recovering from a quintuple bypass surgery.

All of these horrible situations have one thing in common – were their loved ones protected?  Did they have life insurance, or mortgage insurance? Was a Will in place?

I hear many people my age say, well I am young and I have tons of time to do that.  As each year passes, we are constantly pushing major things off with the statement “next year we will get to that”.

Well I am here to tell you to Live in the Now – Get Protected. 

When my husband and I got our first Mortgage, we took Mortgage Insurance.  There are many critics out there who are against Mortgage Insurance through the banks, based on it’s a sliding scale.  However, at the age of 25 I was able to know I was covered with my $20/month if anything happened, whether I died, or even worse – If I lived and was critically injured. Mortgage Insurance is set up so that if you die, or if you are Critically Ill, the bank will pay off your Mortgage for you or for your remaining loved ones. 

I do not sell Life Insurance, nor do I set up Wills – but I am here to tell you this is essential to your life plan. 

My father was in between benefits and insurance coverage at work when he suddenly passed.  He had actually cancelled his coverage in Canada as our family was moving to the U.S. However, in those brief weeks prior to the move, he had a sudden massive heart attack.  My mother went on her trip to Palm Springs with no Travel Insurance.  The first time in her whole entire life, and in the end it cost her thousands of dollars to receive treatment.  My brother is 36 years old, with no life insurance and no mortgage insurance.  If their life plan included mortgage insurance, during his recovering process his family could focus all of their efforts on health and not have to worry about making an income to pay bills. 

Ask your self these questions:

• If something were to happen to me tomorrow, would my loved ones be protected?
• Could my spouse afford to live in our current home without my income?
• Do I currently have Life Insurance or Critical Illness through my employer?  How much does it cover?
• Do I have any assets to pass on to my spouse or children to keep them protected?
• If I become Critically Ill, do I have enough savings to pay my mortgage and bills when I am unable to work?
• If I do become Critically Ill, and cannot afford my Mortgage, where will I live?

At the age of 29 years old I finally realize what it means to protect and care for our loved ones.  I have always understood that we need to invest in TFSA accounts, RRSPs, and take care of our health.  But now I know that we need Mortgage Insurance, we need Life Insurance and we need a Will.  As we get older, these things will start to cost more – so stop waiting. 

Stop thinking you don’t need it.

Live for today - Live in the Now

"These opinions are entirely my own and do not represent TD's position, strategies or opinions".