Life insurance

Life insurance makes sense when you have a young family to worry about. But it may also be a good idea when that family is grown up and has a family of its own.  Heather Clarke, vice-president of insurance services at Investors Group, said when people are younger they think about what could happen if they died, leaving behind kids and a mortgage. But as people get older their thoughts turn to preserving their estate, and insurance can help do that too, she said.  If a person has $500,000 in assets they would like to leave to their children and if some of that is taxable, then one way to preserve the inheritance is to buy an insurance policy that pays out the amount of tax that will be owing, Clarke said. Source.