SISIP life insurance, who knew?

By Lookout Production on Oct 18, 2024 with Comments 0

Chris Fraser,
SISIP Financial Security Advisor, Life Insurance

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It’s common knowledge among the Canadian Armed Forces (CAF) that members of both the Regular Force and Reservists can get life insurance with SISIP. The policies we offer include features specifically designed for CAF members including the ‘no act of war’ exclusion which most other life insurance policies have, and we don’t charge higher premiums for having what most insurance companies consider a high-risk occupation. So, it certainly makes sense for CAF members to come to SISIP for their life insurance needs.

What’s not so common knowledge is that serving members are not the only members of the CAF community that can get life insurance through SISIP. SISIP believes that every CAF member, veteran and their family deserve lifetime financial security. Our products, services and advice are available to serving CAF members, veterans and their families (typically spouses and children). Spouses of CAF members and veterans can apply for all our insurance products with some options for children as well.

A common misconception we hear is that spouses don’t need life insurance because they don’t have the same occupational risks that CAF members have. While I would agree that spouses typically don’t have the same risks at work, life insurance protects people from all kinds of unexpected deaths. In thinking about whether a spouse (or anyone) does or does not need life insurance, it’s important to think about the financial implications if they were to pass away unexpectedly. Are they contributing to household income through a civilian job or as a stay-at-home parent providing childcare? Either way, passing away unexpectedly would have a negative financial impact on the family.

So, if you have a spouse, or are a military spouse, I encourage you to meet with one of our friendly, expert advisors to discuss your insurance needs and get the right coverage in place to protect you and your family.

Booking an appointment is as easy as calling 250-363-3301 or visiting sisip.com.