Life Insurance FAQ

Why buy Life Insurance?

Life insurance is meant to replace your monetary “value” to your loved ones or your business once you’re gone.

If you have a mortgage, income that would need to be replaced, or taxes that would need to be paid, it can offer a solution.


How much is enough?

The industry rule of thumb is to have enough life insurance to cover all your debts plus fifteen years of income.

We work with you to recommend a customized amount and price point that works for your situation.


What’s the “best” kind of life insurance to buy?

The answer is…it depends! There are different types of life insurance, and each has pros and cons. If you’d like, you can learn more here.


How does Allan Financial get paid?

We work with several life insurance companies — beneva (formerly SSQ), Manulife, Canada Life, RBC, ivari, Sun Life, Equitable Life, and BMO. These companies pay us a commission when we sell you their product.

Commission amounts vary (a lot!) between the different kinds of life insurance. There’s no industry requirement to disclose our commission to you, but we do because we believe in transparency.

We tell you how much we get paid in part because we use some of our commission to make your life insurance more affordable. Ask us for more details.


How do I get started?

Great question. To learn more about the application process, click here. Or, if you’re ready to request a quote: