What is income replacement?

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The ins and outs of income replacement

Rounding it up

  • Income replacement refers to insurance policies designed to replace part or all of your income if you or your dependents couldn't count on it anymore.

  • The government offers benefits to financially support dependents who’ve lost an income contributor. They’re helpful, but often insufficient.

  • That’s where life insurance comes in. This policy offers a tax-free, lump sum payout to beneficiaries in the event of an untimely death.

  • Considering life insurance but don’t know where to begin? Start by seeking help from online insurers who offer custom quotes and income replacement advice for free.

5 min read

Vincent Girard
#insurance#life insurance#income replacement#term insurance

Vincent Girard

Financial Security Advisor and former Financial Planner, Vincent is an early employee over at Emma.ca and is currently their Operations Manager. He is dedicated to helping families taking care of their finances and enjoys writing content as a way to reach this goal.

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