
Back to learn
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.


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.
Related articles

Is home insurance a legal requirement in Canada?
7 mins
Ryan SeveranceHomeowner’s insurance—is it worth it? Are you required to have it? Read this to ease your legal fears.
Is home insurance a legal requirement in Canada?
7 mins
Ryan Severance
Homeowner’s insurance—is it worth it? Are you required to have it? Read this to ease your legal fears.
#insurance
#home insurance
#renter's insurance
#tenant insurance

How is homeowner's insurance calculated?
5 mins
Ryan SeveranceEvery year, Canadians save billions thanks to homeowner’s insurance. Here’s how to maximize your coverage as a Canadian homeowner.
How is homeowner's insurance calculated?
5 mins
Ryan Severance
Every year, Canadians save billions thanks to homeowner’s insurance. Here’s how to maximize your coverage as a Canadian homeowner.
#insurance
#home insurance
#home ownership

Are Canadian bank accounts insured?
5 mins
Dan BuchererInsurance is something you don’t need until you definitely do. Learn how the CDIC protects your money.
Are Canadian bank accounts insured?
5 mins
Dan Bucherer
Insurance is something you don’t need until you definitely do. Learn how the CDIC protects your money.
#insurance
#CDIC
#bank
#bank accounts

Do I need renter's insurance in Canada?
7 mins
Gaby PilsonTrying to decide if you need renter’s insurance in Canada? Here’s everything you need to know before you buy a policy.
Do I need renter's insurance in Canada?
7 mins
Gaby Pilson
Trying to decide if you need renter’s insurance in Canada? Here’s everything you need to know before you buy a policy.
#insurance
#renter's insurance
#tenant insurance

Are chequing and savings accounts insured?
5 mins
Dan BuchererWhen it comes to deposit insurance for your chequing, savings, and other accounts, Canada leads the way — but only up to a point.
Are chequing and savings accounts insured?
5 mins
Dan Bucherer
When it comes to deposit insurance for your chequing, savings, and other accounts, Canada leads the way — but only up to a point.
#insurance
#CDIC
#chequing account
#savings account

The types of insurance you need to know about
10 mins
Barry ChoiAuto, home, travel, health — with so many insurance policies out there, it’s vital to know their differences before deciding what’s for you.
The types of insurance you need to know about
10 mins
Barry Choi
Auto, home, travel, health — with so many insurance policies out there, it’s vital to know their differences before deciding what’s for you.
#insurance
#insurance policies
#car insurance
#home insurance