Quebec City Life Insurance Plans

Why Life Insurance is important for Quebec City residents?

Even though the cost of living in Quebec City is relatively low and the cost for singles is even lower, the cost of living is not expected to decrease but rather increase. In fact, you will likely spend more over time especially if you have a child or family. The best way to protect yourself and your family is by obtaining reliable, affordable and robust Quebec City life insurance coverage that will be sufficient for you and your loved ones. This will save you and your loved ones from financial strain if you lose your source of income or die.

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What is the minimum insurance coverage for Quebec City residents?

The minimum insurance coverage for individuals in Quebec City varies and depends on factors like the individuals’ yearly income and cost of living. Essentially, you need Quebec City life insurance coverage at least the same value as your yearly cost of living or ten times your annual income. In other words, if you earn $70,000 per annum, your Quebec City life insurance coverage should be at least $700,000. This is important to ensure that the coverage is not just sufficient but also adequate.

What is the life expectancy for Quebec City residents?

Quebec City residents have a life expectancy of 78.8 years for males and 83.4 years for females. But generally, the average life expectancy for residents in the city is 81.2 years.

What are the Life Insurance rates in Quebec City?

Life insurance rates in Quebec City are determined by a number of factors. You need to know these factors in order to choose the appropriate coverage for you. Moreover, before choosing Quebec City life insurance coverage, you should ask yourself a few questions and answer them to be able to choose the appropriate coverage for you. Here are the questions to answer.

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Quebec City Life Insurance News

Caisse de dépôt et placement du Québec (CDPQ) announced that it is loaning up to $150 million to SSQ Insurance, a life insurance and investment company located in Quebec City.

The transaction will enable SSQ to improve its capital structure and further achieve the execution of its strategic plans. The insurance provider plans to focus on innovation and development across Canada. It will also enable SSQ to continue its digital transformation program to ensure that the rapidly changing needs of its clients are efficiently and continuously met, especially in the insurance industry.

The Senior Vice President of Finance at SSQ Insurance, Patrick Cyr, said the transaction is an element of the capital optimization approach they have recently taken. He expressed their appreciation for the trust CDPQ puts in them. Cyr pointed out that SSQ has been partners with CDPQ for several years and the announcement demonstrates their shared interest in continuing a business relationship that would benefit both organizations.

Marc Cormier, the Executive Vice-President, Fixed Income at CDPQ said they are pleased to reaffirm their trust in the continuing partnership and also support the SSQ Insurance growth plan. The insurance industry is aligned with the investment profile sought by CDPQ due to its resistance to economic cycles. Moreover, CDPQ is not only investing in Canadian insurance companies but it recently invested in insurance companies in Australia, the United States, and the United Kingdom.

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