Quick! Catch Something Bad!

Dear devoted readers,
Here is my second question related to insurance. You may have noticed it will take longer to read, but bear with me. It could really help out those of you who might get serious illnesses, but not serious enough to be restrained from using the computer.

Dear Munnybagz
What are your thoughts on critical illness insurance? I'm pondering whether or not to buy some, having witnessed friends and families go through serious illnesses that have drastically altered their finances. Sure, I have enough $$ in my RRSPs that I could liquidate if I needed extra $$ in case of a serious illness, but I wonder if it's worth $50 a month for a specific insurance plan that would pay out a lump sum ($50,000) upon diagnosis of a serious illness rather than touching my nest egg.
Leanne

Well, Leanne, what harm could 50 dollars a month do? Maybe you won't get to see that movie in the theaters, but you can just rent it. If you go to the movies with a friend and you pay for both of you (not recommended), it could cost just as much as a month's worth of illness insurance! So basically, you would have to go 84 years before you've paid more than full coverage would get you. That should give you plenty of time to catch illnesses...
But anyways, insurances in general normally don't take too much away from your lifestyle, so they're definitely worth it even if you only get coverage one time in your life. Because, like they say, it's better to be safe than sorry. If you don't have insurance and your house gets burnt down, you still have to pay the mortgage for nothing! And 50 dollars for that much peace of mind? That's better than the insurance!
Until next time,
Munnybagz

Finally - A Question has Come on Insurance!

Well, after quite a long delay I have received a question. So now... I write!

Dear Munnybagz,
My partner and I both work and we own a house. Since we are both well off, do we need life insurance? I just think it would be a waste of money.
Please respond!
Insurancely Challenged...

Dear Challenged,
Yes! Let's say one of you did indeed die. Sure, you would be able to survive off of what you make, but you wouldn't be able to pay for your mortgage all by yourself. All the things that took a joint effort to pay off like a car, a house, bills, all that taken out of one salary really hurts, and you wouldn't be able to maintain your standard of living. So let's say one of you got life insurance. But the other person died. Then you would still get nothing, plus you would have wasted money on insurance. So the best thing to do is get one life insurance plan that you can both put into, and it would cover both of you. That's the best way to ensure a painless-after-death situation.
Munnybagz

P.S. I need more questions, because I can't write as much if I only can talk about non question-answering things...