A family insurance review: six questions worth asking

A new child, a move, a job change, or simply a few busy years can be a good reason to revisit your protection. Use these questions to organize the conversation.

1. Who depends on us?

Think about children, a partner, and anyone else you support. Include the work you do at home as well as the income you bring in.

2. What would we want to keep steady?

List the essentials: the home, childcare, living expenses, and the time a family member might need away from work. Add the future plans that matter most.

3. What do we already have?

Gather personal policies and a current employee benefits summary. Note the coverage amounts, end dates, and any questions about what happens when employment changes.

4. How does our mortgage protection work?

Mortgage life insurance typically pays the lender and its benefit falls as the mortgage is repaid. Personal life insurance generally pays the named beneficiary. Ask how each option would support your household, and review the actual contract.

5. What if illness interrupted our income?

Ask how your savings, employee benefits, disability coverage, or critical illness coverage would work together. Bring the policy definitions and waiting periods into the discussion.

6. What needs an update?

Flag changes in your family, debts, budget, beneficiaries, or priorities. Leave the review with a written list of next steps and a clear understanding of what remains undecided.

General education from uAdvisor · Updated October 17, 2026. Policy terms and personal circumstances determine suitability. Reference: Financial Consumer Agency of Canada: life insurance. Also see FCAC: optional mortgage insurance.