Say that again? It's true, when it comes to shopping for online life insurance quotes. In 2010, 64 per cent of's online life insurance quotes-single coverage-were for men. This suggests that, alarmingly, many women may not have the life insurance coverage they should.

Only about one-third of life insurance quotes were for women shopping for themselves. Wouldn't you have thought it would be a straight 50/50 split down the middle given that the need for life insurance is not gender-specific?

Dual-income families

Many families rely on two incomes to keep the household running smoothly, so wouldn't both people need life insurance? With a mortgage to pay, debts like car loans and credit cards to stay on top of, and possibly children to support, both individuals should have life insurance to help the other comfortably make ends meet should one die in their working years.

Single-income families

While many families rely on two incomes, there are also many that don't.

In the case of stay-at-home parents, many believe the myth "I don't work outside the home so I don't need life insurance." False! Just because there's no paycheque to replace, doesn't mean life insurance is unnecessary. In fact, have you ever considered how much it would cost to pay for childcare and housekeeping in the absence of a stay-at-home parent?

In the case of a single working parent, life insurance can be used to not only pay any debts that exist-like a mortgage, car loan, or credit cards-but can be used to ensure that the children are financially looked after, no matter what happens. A Trust can be set up for the children so the money is spent in a certain manner, or made available once they've reached a certain age.

I'm single and don't have children, so I don't need life insurance

Another myth. Just because you're single without children doesn't mean you do not need life insurance. Ask yourself:

  • Who will pay for final expenses, like funeral arrangements?
  • Who will get stuck with debts like your mortgage, car loan or credit cards?
  • Do you want to leave anything "extra" to your parents or family members?
  • Do you want to leave a legacy with perhaps a favourite charity?
The fact is, life insurance is a key-component to a well-rounded financial plan and is very affordable. Check out the annual rates available to women for two of the most popular life insurance products in Canada.

Term 10
Term 20
Term 10 life insurance offers a premium guaranteed not to change for 10 years.

A non-smoker seeking $100,000 in coverage could be paying as little as:

Age Annual Premium--Female
30 $99
35 $108
40 $128
45 $152
50 $200

Term 20 life insurance offers a premium guaranteed not to change for 20 years.

A non-smoker seeking $100,000 in coverage could be paying as little as:

Age Annual Premium--Female
30 $123
35 $139
40 $162
45 $221
50 $317
Quotes obtained from the Kanetix website February, 2011. Lowest quote shown.

Getting started

If you or someone you know--your sister, mother, aunt, wife, daughter, grandmother, niece or cousin--does not already have life insurance, it's easy enough to get started. Kanetix has developed a number of free online tools that will help.

First, try the free online Kanetix Term Life Insurance Analyzer. This tool highlights which term life insurance product is most commonly recommended for people with the same lifestyle or in the same situation.

Then, try the free online Kanetix Life Insurance Needs Calculator. This tool provides a rough idea of how much life insurance coverage is actually needed to ensure that family, loved ones and debts are adequately covered.

Finally, try the free online term life insurance quote comparison service. This tool provides online term life insurance quotes from some of Canada's top insurers-quickly, easily and displayed in an easy-to-read and compare chart format.

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