Start with who would need the insurance money, for how long and what you can afford to pay for coverage.
A starting point for your insurance needs. A licensed adviser needs to review the amount and type of cover, who owns it, insurer approval and the tax effects.
No. The obligation may end at retirement, sale, or repayment. Compare the agreement and duration with the coverage terms. A documented lifelong need calls for a different comparison. Read FCAC's explanation of life insurance types.
Review the premium budget and alternatives with a licensed insurance adviser. An unclear or unaffordable proposal does not establish a permanent-policy need. Address necessary protection promptly, and review replacement terms before cancelling existing coverage.
Consider the inheritance alongside the wealth that needs to support your own life.