(NC) -- Looking after your family means doing what's in their best interest, now and in the future. Oddly, though, many of us overlook a simple aspect of protecting our loved ones: insurance. A recent poll from Risky Business found that three in 10 Canadians don't have life insurance while six in 10 don't have critical illness protection.

“There is a lot of confusion around the cost of life insurance, which can put people off,” says Rob Stier, the marketing and product distribution manager at Western Life Assurance. Take a look at his answers to some common misconceptions:

“It's too expensive.”

“It's much less costly than people think. For instance, a 35 year-old female non-smoker is eligible to apply for coverage up to about $500,000 for as low as $21 per month,” he advises. “I'm young and in good health. I don't need insurance.”

“In Canada, the government mandates car and fire insurance, though only one in every 120 people will ever make a car insurance claim, and even fewer (1/274) will ever make a fire claim,” Stier points out. “On the other hand, of those Canadians that have a disability policy – which isn't mandatory – one in three end up needing it.”

Young people may feel as if life or disability insurance is unnecessary, yet unexpected illness or injuries are very real threats. In fact, 60 per cent of early retirements are due to health issues, derailing even the most comprehensive long-term plans. Furthermore, the availability and price of insurance – both disability and life – changes as you age, so it is best to secure coverage when you're young and fit.

“I already have enough coverage with my work policy.”

When it comes to coverage provided by employers, disability is often not included unless it occurs while at work. While this is not true of all policies, to ensure that you have the right coverage, you should see a professional insurance broker and discuss the extent of your protection.

“There are too many choices.”

“Everyone is different and their policies should be too,” explains Stier. “By working with a professional, you can simplify things and get the most complete coverage for you and your family. This can include life and disability policies and can extend to your spouse. With so many options, purchasing insurance can seem intimidating, but it doesn't need to be.”

More information is available at www.westernfinancialgroup.ca.