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3 life-planning moves you should make right now

Get started today on these essential financial life-planning options

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Originally published in Today's Parent January 2010

Christina Huppé’s second pregnancy was gruelling — physically and emotionally. Because the 31-year-old has a blood disorder, she knew in advance there could be complications. Still, she was shaken up enough to make a difficult decision: It was time to get life insurance. Huppé is a working parent, and if anything should happen.... Well, she wouldn’t want her family to struggle without her paycheque to rely on.

Though the Kanata, Ont., mom worried that her pre-existing medical condition would make life insurance astronomically expensive, a broker found an insurance company that would cover her at standard rates. Her husband, Martin, who is 11 years older, got insurance at the same time. “It’s a load off our shoulders now,” says Huppé. “We made it a priority in terms of our finances, and now we feel secure.”

Of course, Huppé, like every parent, hopes her family will never need her life insurance. Who wants to think of a future in which we aren’t around to care for our kids? But that doesn’t mean we should just ignore the future. Yes, financial planning takes some time and commitment but, as Huppé found, it also brings peace of mind.

Here are three important things you can, and should, get started on today. If you’ve already got them covered, read on for advice on fine-tuning your plans as your children grow and change.

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