Insurance strategy

Use coverage for a defined purpose.

Evaluate life, disability, and critical illness coverage within the household's broader cash flow, wealth, and estate plan.

Coverage begins with the gap.

A useful review looks at what continues after an illness, disability, or death, then checks which resources already exist.

How long could the household continue if employment or earning capacity changed?

Which payments remain, and which balances would create pressure?

Education, caregiving, and future plans may continue without the same income.

Tax, equalization, gifts, and final expenses can create a need for timely liquidity.

Disability and critical illness coverage may protect cash flow while recovery changes work and care needs.

Neither structure is automatically better. The right fit depends on the duration of the need, budget, ownership, and long-term purpose.

Often used for needs with a defined period, such as income replacement, a mortgage, or children who still depend on you.

Often used for needs expected to remain, including estate liquidity, potential tax liabilities at death, and legacy planning.

Existing coverage

A review should not begin with replacing what you own. It should confirm what the policy does now, what changed, and whether any gap remains.

Coverage, riders, ownership, beneficiaries, and conversion terms.

Income, debt, dependants, business interests, health, and estate plans.

Keep what still works and address only what the current plan does not cover.

A clear review can begin with current statements, workplace coverage, and the responsibilities you want protected.