Canadians buy more life insurance to protect their homes

financialpost.com

Canadians are increasingly buying life insurance to protect their homes and families from financial hardship. Homeowners are opting for significantly higher coverage amounts, averaging $726,660, compared to non-homeowners at $553,124, reflecting rising mortgage debt and economic uncertainty. This trend highlights a growing need for financial protection, with younger homeowners also seeking substantial coverage to secure their assets against future costs.


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