Moneyman Financial Inc.
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Latest News from Moneyman Financial Inc.
Living Paycheque to Paycheque: How Canadians in the Gig Economy Can Build Financial Security
For past generations, financial security often meant a steady, full-time job with a pension. Today, more Canadians are working as freelancers, contractors, or gig workers—enjoying flexibility, but also facing unpredictable incomes. In fact, a 2025 ADP survey found that over half (56)% of Canadians are living paycheque to paycheque.
While this reality brings challenges, it also highlights the importance of proactive money management. With the right planning, Canadians can protect their health, reduce stress, and build long-term stability.
Finding Coverage That Fits: Flexible Insurance Choices for Canadians
Life and critical illness insurance are designed to help protect the people you care about most. But let’s be honest—qualifying for traditional insurance isn’t always easy. If you’re living with a health condition or have faced coverage denials before, the process can feel frustrating and discouraging.
The good news? There are newer, more flexible insurance options in Canada that can give you the protection you need—without all the hurdles.
Which Term Life Insurance is Right for You?
Once you have decided on how much life insurance you need, your next decision is whether you are going to use term insurance or permanent insurance to provide it. For many Canadians, while permanent cash value life insurance offers a significant opportunity for them, many initially utilize renewable and convertible term life insurance. Most life companies in Canada offer 10-year, 20-year and 30-year renewable term policies. In deciding which one is right for you, attempt to match the need to the term. While 10-year term might have the lowest entry level cost, the renewal premiums will be substantially higher. If you have a young family, ask yourself, will I still need protection beyond the 10th year? If that answer is yes, then a longer renewal period is more appropriate.