The Canadian Life and Health Insurance Association (CLHIA) has launched an online campaign to explain the benefits of buying life insurance when one is young and healthy.
CLHIA unveiled www.notimelikenow.ca yesterday. The web site uses videos to show why someone might need life insurance at a young age, and explain why it is preferable to own an individual policy rather than rely on group coverage through work. The site offers a financial needs calculator so that visitors to the site can determine how much insurance they require. There is also a page with a list of links to Canadian life insurance companies.
Frank Swedlove, the CLHIA's President and CEO, says the association wanted to provide young people with a brief but compelling introduction to what life insurance is, and why it's important.
"Many young adults already see the advantage of saving early for retirement, and we want them to know that there are similar advantages to buying life insurance when you are young, healthy and premiums are low," says Swedlove. "For the price of a week's worth of large premium coffee drinks, young adults can cover the monthly cost of providing an important financial safety net to their partners and dependents, and then get on with enjoying this exciting stage of life."