Getting a Life Insurance
 

Hi all,

We went to see a financial advisor today discussing our financial and long term needs. One that we consider getting is Term Insurance. On the application ask about our SIN. As I forgot to ask him, I would like to ask you guys if it is a mandatory requirement if you apply for an insurance? Thanks.

Re: Getting a Life Insurance
 

No.

Fact Sheet: Social Insurance Number

Re: Getting a Life Insurance
 

Be careful who you give out your SIN to. I rarely give it out.

Re: Getting a Life Insurance
 

:confused::confused:

Re: Getting a Life Insurance
 

Thanks for all your replies. I've emailed the financial advisor and replied that if not born in Canada I need to provide my SIN# or PR card. I am not happy to give our SIN# but we don't have a PR card either as we are on a TWP. Will that be a reason to decline our application? Or should we provide our a copy of our TWP instead? :confused: many thanks.

Re: Getting a Life Insurance
 

Don't forget your employer provides group life insurance as your
benefit.Check with HR about how much is the pay out to your beneficiary.
That might help you and your spouse decide how much coverage is needed
for your family's needs.By the way how is your new job?

Yoong

Re: Getting a Life Insurance
 

Group life is typically twice income: for a family with a mortgage, car loans, other debts and depending on two incomes to bring up their kids, that is not enough.

Re: Getting a Life Insurance
 

Is it? Mine's 3.5 times annual income. I've no idea what's typical.

Re: Getting a Life Insurance
 

Mine was twice annual income it is now decreasing annually until I turn 65 then it virtually disappears.:(

That'll be just about the time I pop me clogs.:ohmy::eek:

Re: Getting a Life Insurance
 

I am on the look out for a decent pair of clogs :D
Anyway seeing we are on about insurance, I have had the same insurance broker for over 20 years he has been fantastic but now that I am looking at immigration he has come up with the idea that a very cheap policy that will (on me hanging up my hat and slipping off me old clogs) that will give a small lump sum for the kids, this is a British based policy that covers me even when I am living abroad. Has anyone heard of such a thing?