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November 15, 2023

After I got married, it hit me: I’m really glad I have life insurance

by: Raphael Ioannou

Bride and groom posing outdoors at their weddingThis past summer, I married my best friend, Amanda. We had a beautiful wedding, and an amazing honeymoon in Greece.

After getting married, I had a moment where I thought to myself: I’m really glad I purchased life insurance.

I had bought life insurance several months before I married Amanda – for reasons like ensuring my loved ones aren’t left to pay off my debt if my untimely passing were to occur – and it was really quite affordable due to how young I was when I first got it.

Because the reality is that age, health conditions, and even a high-risk occupation or hobby can make the cost of a life insurance policy go up significantly.

Believe me, I am well aware life insurance isn’t a popular purchase when you’re in your twenties or early thirties, but due to my line of work I understood that it was just another important piece of my long-term financial plan.

And now that I’m married to the love of my life, my life insurance policy feels all the more important. I am just so relieved to know she’s protected if anything were to happen to me.

Life insurance is a strange sort of thing. It isn’t a tangible product you can hold in your hand – what you’re buying is peace of mind.

For me, the peace of mind comes from knowing that Amanda would be able to take time off work to emotionally recover without having to worry about the financial impact of my passing. I know I would need the same if I lost her.

Husband and wife enjoying drinks on the beach during their honeymoon.

It’s not something people really think about – but dying can be expensive for those left behind. In Canada, the average funeral can cost around $10,000. (I’ve even heard of funerals costing as high as $20,000!) Whatever the case, most of us don’t have an extra ten or twenty grand just lying around.

And then there’s the regular stuff, like mortgage payments, car payments, rent payments – the bills keep coming even though a loved one’s death can make us feel like the world around us has stopped.

Imagine your partner having to heal from that type of loss, all the while worrying they may not be able to pay the bills.

Keeping up with expenses on one less income can be a huge burden – financially and emotionally.

The hardship of having to worry about money without having the time they need to grieve is a stress I never want my wife and family to have to go through.

And here’s the cool part: I know they won’t because they’ll be receiving a lump sum of $750,000 in the event I die too soon. (Knock on wood I don’t, of course!) Amanda could use this money to pay off any outstanding debt, cover our mortgage and other monthly expenses, and ensure our future children – a man can dream! – continue to live the lifestyle they are used to.

Whether you’re a newlywed or engaged to be married… Or, if you’re married with kids or are simply worried about how your untimely passing may impact your loved ones… it is definitely time to speak to an expert about how best to protect the people you care about with life insurance.

Take it from me – it’s the ultimate peace of mind.

Bride and groom posing outdoors at their wedding


Raphael Ioannou is a Financial Advisor and Life Insurance Agent with Serenia Life Financial. Married and proud dog parent, Raphael finds joy in exploring new places, savouring culinary adventures with his wife, and cheering on the Toronto Maple Leafs at hockey games with friends. Raphael believes life insurance is an investment in the well-being of our loved ones.

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