Finance · Insurance & Protection

Are you and your family
actually protected?

Most people think they're covered — until they check the numbers. Rico runs the analysis and shows you exactly where your gaps are.

Rico is a Financial Associate with Experior Financial Group — not a certified Financial Advisor

The Reality

The gap nobody talks about until it's too late.

Nobody wants to think about dying. Or getting sick. Or being unable to work for six months. So most people don't think about it — and they assume their work plan or a basic policy is enough. It usually isn't.

Here's a question Rico heard on a podcast that stuck with him:

"
If you were gone tomorrow — who would take care of your family?

Think of two people who could realistically take on that responsibility. Now go ask them — in person, look them in the eyes. Would they actually do it? How does that make you feel?

That feeling is exactly why this conversation matters.

"
Your most valuable asset isn't your home. It's the income you earn — and most people have done nothing to protect it.

The average Canadian family has a life insurance shortfall of hundreds of thousands of dollars. Disability is the number one cause of mortgage defaults in Canada. And critical illness — cancer, heart attack, stroke — can wipe out savings overnight even with good health coverage.

Rico uses the Experior Financial Analysis to calculate exactly how much coverage you need — and exactly how much you're short. No guessing. Real numbers, your situation.

The Three Pillars

What protection actually looks like

Most people only think about life insurance. There are three pillars to a complete protection plan. Click each to learn more.

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Life Insurance +

If you're gone, your family shouldn't lose everything too.

Life insurance replaces your income and pays off your debts so your family can keep their home, fund education and maintain their lifestyle — without you.

Rico calculates exactly how much you need based on:

  • Your annual income × years of replacement needed
  • Total debts (non-mortgage)
  • Mortgage balance
  • Children's education costs
  • Final expenses (~$10,000)

Most people are shocked by the gap between what they have and what they actually need. The analysis makes it clear.

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Disability Insurance +

What happens to your mortgage if you can't work for 6 months?

Disability insurance is the most overlooked protection there is — and the most likely to be needed. 1 in 3 Canadians will be disabled for 90+ days before age 65.

It replaces 60–85% of your income if illness or injury keeps you off work. Without it, most families are 2–3 months from financial crisis.

  • Covers both short and long-term disability
  • Pays even if you can't do your specific job
  • Benefit periods vary — Rico helps you choose the right one

Disability is the #1 cause of mortgage defaults in Canada. This is not optional protection.

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Critical Illness +

A cancer diagnosis shouldn't also be a financial crisis.

Critical illness insurance pays a tax-free lump sum if you're diagnosed with a covered condition — cancer, heart attack, stroke, and 20+ others. You use the money however you need.

  • Pay for treatment not covered by provincial health care
  • Cover your mortgage while you recover
  • Take time off without draining savings
  • Travel for specialized treatment

More Canadians survive serious illness than ever before — but the financial impact can be devastating without this coverage.

Find Your Gap

How much life insurance do you actually need?

Use this quick calculator to estimate your coverage need — then compare it to what you have.

Life Insurance Gap Calculator

Enter your numbers below. This is an estimate — Rico will run the full Experior analysis in your free session.

How this is calculated (Experior EFA formula):
Coverage needed = (50% of annual income × years to replace) + total non-mortgage debts + mortgage balance + $10,000 final expenses
Annual income ($)
Years of income to replace
Total debts (not mortgage) ($)
Mortgage balance ($)
Current coverage you have ($)
Coverage you need$0
Coverage you have$0
⚠️ Your shortfall$0

* This is a simplified estimate. Book a free session with Rico for a full Experior Financial Analysis with precise numbers.

Common Mistake

"My work covers me." — Does it really?

⚠️ Why group insurance usually isn't enough +

Most employer group plans sound reassuring — until you look at what they actually cover. Click to see the full picture.

The coverage amount: Group life insurance is typically 1–2× your salary. The recommended amount is 10–12× your income. If you earn $70,000, your work plan gives you $70,000–$140,000. You likely need $700,000+.

The portability problem: Group insurance is tied to your job. If you leave, get laid off, or the company changes plans — your coverage disappears. Personal insurance travels with you regardless of employer.

The health trap: If you lose group coverage and your health has changed, getting new personal coverage can be difficult or much more expensive. Getting personal coverage while you're healthy and employed protects your future insurability.

The bottom line: Group insurance is a starting point, not a complete plan. Rico will show you exactly what your group plan covers — and what it doesn't.

Common Mistake — Video Coming Soon 🎬

Mortgage insurance vs. life insurance — they are not the same.

This is where most people get it wrong. They check "mortgage insurance" at the bank and think they're covered. Here's the difference.

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Mortgage Insurance
(from your bank)

Beneficiary: The bank — not your family
Benefit amount: Decreases as your mortgage shrinks
Premiums: Stay the same while benefit shrinks
Portability: Tied to that mortgage — gone if you refinance or switch lenders
Medical check: Done at claim time — can be denied after you've paid in for years
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Personal Life Insurance
(through Rico)

Beneficiary: Your family — they decide how to use it
Benefit amount: Stays level for the full term
Premiums: Fixed — you know exactly what you're paying
Portability: Travels with you — no matter where you bank or what home you're in
Medical check: Done upfront — approved coverage you can count on

The bottom line:

With bank mortgage insurance, you pay the same every year while the benefit shrinks — and the money goes to the bank, not your family. With personal life insurance, the benefit stays the same and your family decides how to use it. In most cases, personal life insurance is better protection at a lower or equal cost. Rico can show you the comparison side by side.

How It Works

What Rico does in your protection review

1

Gather your current coverage

Rico reviews what you already have — work benefits, personal policies, group plans. Most people don't know the details of what they're carrying.

2

Calculate what you actually need

Using the Experior Financial Analysis, Rico calculates your exact life insurance need based on your income, debts, mortgage, family size and education costs.

3

Show you the gap

Side by side — what you need vs. what you have. For most people, the shortfall is significant. Seeing it clearly makes the decision easy.

4

Present options — no pressure

Rico presents solutions that fit your budget and situation. Term, whole life, disability, critical illness — he explains each one in plain language. The decision is always yours.

Common Questions

Things people ask Rico about insurance

Click any question to read the answer.

Do I need insurance if I'm young and healthy?+
Yes — and that's exactly the best time to get it. Premiums are lowest when you're young and healthy. Every year you wait costs more. And you can't predict when your health changes.
Term or whole life — what's the difference?+
Term covers you for a set period (10, 20, 30 years) at a lower cost — great for protecting young families. Whole life is permanent and builds cash value over time. Rico will help you figure out which makes sense for your situation and goals.
Is my work insurance enough?+
Usually not. Group coverage is typically 1–2× salary — far below the 10–12× recommended. And it disappears if you leave your job. Personal coverage is portable and fills the gap.
What exactly is critical illness insurance?+
A tax-free lump sum paid if you're diagnosed with cancer, heart attack, stroke or 20+ other conditions. You use it however you need — treatment, mortgage payments, time off. It's not a replacement for disability insurance, but a powerful complement to it.
How much does insurance cost?+
Less than most people expect when you're young and healthy. A healthy 35-year-old can get $500,000 of term life coverage for roughly $30–50/month. Rico will find options that fit your budget — not just the most expensive solution.
Is Rico's review free?+
Yes, completely free. No obligation. Rico reviews your current coverage, calculates your gap, and presents options. What you do with it is entirely your choice.

Find Your Gap

Book a free protection review.

One conversation. Real numbers. Rico will show you exactly what you have, what you need, and what it costs to close the gap.

📅 Book a Free Chat See the Full Analysis →