All in all, if you're alive you need life insurance.
Andrew Ostro, the CEO and co-founder of online insurer PolicyMe, likens it to driving.
If you drive you are required by law to have car insurance.
"Life insurance may not be legally required, but it should still be a top priority," said Ostro.
"If someone relies on your income, whether that's children, a partner, or aging parents, life insurance is just as essential as any other form of protection."
Considering this, it's startling that 50% of adult British Columbians don't have life insurance, according to a survey PolicyMe did in conjunction with well-known and respected pollster Angus Reid.
That 50% is the highest in the country and shows how vulnerable half of British Columbians are to financial disaster in the wake their own death or the death of a loved one.
The reasons for not having life insurance vary from too expensive (34%) and don't need it (27%) to medical tests scaring them off (22%) and delayed plans because of high cost of living (10%).
71% of uninsured British Columbians add that they are unlikely to purchase life insurance in the next five years.
Trust issues also factor into it.
19% of people believe insurance companies pay claims only half the time, while 52% believe most claims are paid.
70% of British Columbians believe their families would be financially secure in the event of their death.
But, without life insurance, that 70% seems very optimistic.
"It’s less about age or income, and more about whether someone’s absence would create a financial gap for the people they love," said Ostro.
For instance, if your spouse dies and you lose their income, would you struggle financially to pay for their funeral, continue to make mortgage payments, cover daycare, pay for the kids' university and-or make car payments and pay monthly credit card, utility and line of credit bills.
If the answer is yes, you need life insurance.
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Basically, you need enough life insurance to ensure your family can maintain their standard of living without you.
"It’s also worth noting that stay-at-home parents often need life insurance, even though they may not be earning an income," Ostro pointed out.
"The childcare, household management, and day-to-day support they provide would be costly to replace, and losing that contribution could create significant financial strain.
Generally, working Canadians with families, or those planning for one, should view life insurance as a core financial tool, according to Ostro.
"The earlier people purchase (life insurance), the better," said Ostro.
"Premiums rise as you get older, and health changes can make coverage more expensive or even out of reach."
The financial stress of a loved one dying without insurance, piled on top of the emotional upheaval may also make it harder for loved ones to grieve and ever regain stability.
"Life insurance gives families breathing room and options during a difficult time, helping to ease the burden so they can focus on healing," summed up Ostro.
