We don’t think twice about insuring our homes, our cars, or even our phones. But when it comes to protecting the people who matter most, many Canadians are leaving themselves at risk.
Nearly a third of Canadians are living with a life insurance coverage gap. According to the 2023 Canadian Insurance Barometer Study, conducted by LIMRA and Life Happens, 31 per cent of Canadians (representing 8.4 million adults) say they need life insurance or need more coverage than they currently have.
This gap has serious consequences. Without adequate coverage, families are left vulnerable if the unexpected happens. In fact, 4 in 10 Canadians say their families would face financial hardship within six months if the primary wage earner passed away suddenly, while another quarter admit they aren’t sure how long their families could remain financially stable.
Life insurance isn’t just about preparing for the worst. It’s about creating peace of mind and ensuring your loved ones can continue living the lifestyle you’ve worked hard to build.
Why Pharmacy Professionals Need Life Insurance
Pharmacy professionals wear many hats: we are trusted health professionals, but often also business owners, employers, and community leaders. With so much responsibility, the ripple effects of an unexpected loss can be significant. Life insurance helps ensure that the people and commitments you care about are protected.
For pharmacy professionals, coverage can help with:
- Protecting your family’s lifestyle. Mortgage payments, childcare, education costs, and day-to-day expenses don’t stop if you’re no longer there to provide for them.
- Safeguarding your business. Many pharmacists are independent owners or partners. Life insurance can provide liquidity to help keep a business running, support employees, or manage outstanding debts.
- Covering professional and personal debt. From student loans to lines of credit, life insurance ensures financial obligations don’t become a burden for your loved ones.
- Planning for the future. Whether you’re just starting your career, building a family, or preparing for retirement, coverage creates peace of mind at every stage. You’re never to young to think about life insurance.
“It all comes down to identifying the gaps in your situation and making sure you’re prepared. Even if you’re young and single, you may have financial obligations that could impact others if something happened to you.”
By choosing a plan designed with pharmacists in mind, OPA members can feel confident that both their families and their businesses are safeguarded.
Life Insurance Options Through OPA
OPA has partnered with the most trusted Canadian providers to give our members flexible, affordable coverage options that fit your unique needs, no matter what stage of life you’re at. OPA members can get competitive rates from our two life insurance partners.
Both programs offer the protection pharmacy professionals and their families need, with the added benefit of living coverage: if you are diagnosed with a terminal illness, funds can be accessed before death to help ease financial strain during a difficult time.
OPA’s role is simple: we provide you with trusted options, support you in the decision-making process, and ensure that you have access to coverage designed with pharmacists in mind. Whether you’re looking to protect your family, your business, or both, OPA’s life insurance programs are here to help you plan with confidence.
Now Is the Time
It’s easy to put off thinking about life insurance, especially when you’re young, healthy, and busy building your career. But the truth is, life can change in an instant. The best time to secure coverage is always now.
Here’s something many people don’t realize: life insurance is more affordable the earlier you act. Each birthday that passes can mean higher premiums, which makes waiting much more costly in the long run. By locking in a plan now, you benefit from lower rates and lasting protection.
Don’t wait until later. Take the time today to review your needs, explore your options through OPA, and make the decision to protect what matters most.
Learn more and request your quote today at opatoday.com/life-insurance.
