How does insurance protect against these expenses?

Life Insurance: In the event of your death, your spouse will become the sole provider for your child. In addition to the mortgage and an ongoing income, your life insurance should take into consideration the significant costs of raising as well as educating your child.

Disability Insurance: The future of your children depends heavily on your continued ability to earn a living. However, for most of your life, the possibility of becoming disabled is much higher than other risks, such as death. Given the immense cost of raising a child, it is vitally important that your income continues in the event you can no longer work. A well designed disability insurance policy will guarantee your continued income.

Critical Illness Insurance: This insurance pays a lump sum if you are diagnosed and survive a serious illness as covered in your policy and is excellent protection to supplement your disability and life insurance.