If you provide primary income for your family, then it is suggested that you need a life insurance policy 10 times your gross annual income. (insuranceproviders.com)
Term life is great for those who can discern how long they need the coverage for, such as for the household's primary income earner while the kids are young, or life insurance for SBA loans, or to meet the requirements of a divorce settlement. (termlife2go.com)
Instead, the CRA will look at all evidence — including length of time in dwelling, primary income sources and patterns of buying, living, moving and selling. (moneysense.ca)