EP059 What is insurance and Why do I Need it with Deborah Williams

Deborah Williams has 20 years of experience in the Capital Markets and Financial Services industry with a focus on retirement planning, real estate and commercial lending, and trading derivatives. She is a financial services expert and a Professor at The Business School at Centennial College where she also coaches the Financial Planning Case Competition teams. Recently, her team won the Canadian Institute of Financial Planning Regional and National Championships. She has an MBA in Finance and Marketing from the University of Toronto – Rotman School of Management and has an Honours Co-op Bachelor of Environmental Studies, Urban and Regional Planning from the University of Waterloo. She is a member of the Desjardins Financial Security Independent Network and sits on the board of multiple local organizations including the Caribbean Chinese Association.  


Deborah joins me today to discuss what insurance is and why you need it.  She explains the difference between life insurance, critical illness insurance, disability insurance, and long-term care insurance and when you might need them. She highlights which insurances you should consider when you start your career as well as when you are in your 30s, 40s and beyond and demystifies many of the misconceptions about insurance and purchasing insurance policies.



“Get your basic insurance coverages outside of your employer. Look at what you get from your employer as a bonus.” – Deborah Williams



This Week on Young Money:


  • Deborah Williams’s background and day-to-day work activities.
  • An explanation of the kind of insurance you will need in life and death.
  • A breakdown of life, critical illness, disability, and long-term care insurance.
  • The differences between permanent insurance and term insurance.
  • Why people should care about getting insurance.
  • The value of long-term care coverage.
  • The first insurances that young people should consider at the start of their career.
  • How insurance needs change as you move from your 30s to 40s and beyond.
  • The biggest misconceptions about insurance.
  • What Deborah is working on now.



Questions to Consider When Purchasing Insurance:


  1. What do I need in life?
  2. What do I need in death?
  3. How can I make the most of my employer benefits?
  4. How do I maximize and protect myself if I leave my employer?




Connect with Deborah Williams:






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