Situation
Two working parents in their mid-thirties, a new mortgage, a toddler, and only the basic group coverage from one employer.
The Question
If one of us couldn’t work — or wasn’t here — could the other keep the house and keep the household running?
The Planning
Term life on both parents covering the mortgage and the years until the child finishes school, critical illness coverage that pays a lump sum to use during treatment and recovery, and an RESP set up with automatic monthly contributions to capture the government grant.
The Outcome
The mortgage has funding behind it under either scenario, a serious diagnosis doesn’t have to mean drawing down savings first, and education funding builds quietly each month.
This case is a composite of common situations, with details changed; it does not describe a specific client. Actual results vary.