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Too many Canadians overlook a critical aspect of their financial plan: life insurance. We know the number of households that own individual life insurance policies is falling, but the reality is that 33 per cent of families would be in immediate financial trouble if something were to happen to their primary breadwinner.
The current process has all the hallmarks of other industries that have been severely disrupted: centrally controlled by a head office, highly regulated, lacking transparency, subject to byzantine rules, and a lot of process friction from start to finish. There is nothing close to "online," "real time" or "customizable" about it.
I had been following Erica Douglass (via her blog) for a while before I asked her for an interview. Her story of selling her company at age 26 for over one million dollars is mind blowing, but that's not the most amazing thing about Erica...