Insurance for Couples

Couples come in many varieties but they do not have dependents.  They may be married or common-law or same sex.  Like single people they need to replace their income if they are disabled; they need to be able to take time off work to get better if they have a critical illness; they need to have enough money to retire, and they need to make sure their partner is looked after if they die.

Insurance and Investment

If a person who is living as a couple is disabled or has a critical illness then they have a partner who may be able to look after them.  But the partner may have to take on extra work in order to pay bills.

Again adequate disability and critical illness insurance either at work or bought personally will allow more choices at the time of need.

Both individuals in a partnership need to have enough money to retire in comfort.  Investing in an RRSP may be required if the pension(s) will not be adequate.

Life insurance may be required if there are debts that the other person cannot pay.