Renting for the Win. Term Insurance vs. Permanent Insurance.
Recorded on April 24th, 2025
In this episode of InFocus, Mike Gassewitz, CEO of TriCert Financial Group, is joined by Oliver Lee, BMath, Head of TriCert Insurance Agency, for a candid conversation about life insurance. What it is, what it isn’t, and how Canadians can avoid common mistakes when choosing between term and permanent insurance.
Oliver unpacks the widely used “renting vs. owning” analogy and explains why this sales tactic often leads people toward permanent life insurance they may not need. Together, Mike and Oliver explore how life insurance needs change over time, why financial planning should come before policy selection, and how to align your insurance strategy with real financial priorities.
The episode closes with practical, conflict-free advice: match the product to your real needs, avoid sales-driven pitches, and don’t hesitate to seek a second opinion, especially from your accountant or wealth advisor.
Key Takeaways
- Life insurance needs often decline with age; permanent coverage isn’t always required.
- Term life insurance can be more suitable for most Canadians, especially early in life.
- Permanent insurance is frequently oversold using misleading analogies.
- A financial plan can help prioritize goals and identify better uses for excess funds.
- Always seek independent insurance advice, especially from your accountant or wealth advisor.
For more Insights from TriCert, visit TriCert.ca/Insights.
Portfolio and Investment Fund Manager
Through a referral arrangement, Stark & Marsh Wealth Management Services offers you direct access to TriCert Investment Counsel’s portfolio management services. Seamlessly working with your Stark & Marsh CPA LLP Accountant and your Stark & Marsh Wealth Management Services Financial Planner, your TriCert Investment Counsel’s Portfolio Manager takes a quality sector-based (QSect) approach to tailor an investment management strategy that is specific to your unique circumstances designed to meet your goals and provide peace of mind through volatile markets.
TriCert Investment Counsel is registered as a Portfolio Manager with the Ontario Securities Commission (OSC) in Ontario, its principal regulator, and with each relevant securities administrator in all other jurisdictions across Canada. TriCert Investment Counsel is registered as an Investment Fund Manager in Ontario. Today, TriCert Investment Counsel proudly manages over $4 billion in assets on behalf of thousands of clients.
To learn more, visit TriCert.ca.
Intergenerational Wealth Transfer
WEALTH MANAGEMENT RESOURCEIntergenerational Wealth Transfer: Planning the Transfer of Family Wealth with Confidence and Clarity Intergenerational wealth transfer is about more than passing assets from one generation to the next. It’s about protecting...
Incorporation Checklist: Next Steps for Saskatchewan Corporations
NEWSIncorporation Checklist: Next Steps for Saskatchewan Corporations Incorporating a business in Saskatchewan involves more than just tax considerations. Moving from a sole proprietorship or partnership to a corporation brings new operational, regulatory, and...
What Is CropConnect and Why Should You Use It?
NEWS What is CropConnect and why should you use it? CropConnect is a secure online service from Saskatchewan Crop Insurance (SCIC) that allows producers to manage their crop insurance information electronically.How CropConnect Helps You ✔ Less paperwork, less...