Everybody Thinks They Have Time: Naunidh Hunjan on Protecting Your Family Before It's Too Late

What Is the Illusion of Time, and What Did It Cost One Family?

Naunidh Hunjan describes the illusion of time as the quiet assumption that there's always room to deal with the important things later (Real with Ritesh, "Don't Wait Until It's Too Late to Protect Your Family," November 2026). He doesn't come to it as theory. His family went through bankruptcy and lost a gas station, a mechanic shop and hundreds of acres of land.

That experience is the backdrop to everything else he said. When someone has watched a family lose what it spent years building, a conversation about insurance stops being about products. It becomes about whether the people you love will have options when something goes wrong.

I think most of us recognise the pattern. We're busy, we feel fine, and the decision has no deadline until it suddenly does. Naunidh's point isn't to frighten anyone. It's that the best time to protect a family is before the day you need protecting, and that day rarely announces itself.

Why Does Waiting Make Protection Harder?

The gap he talks about is real and measurable. LIMRA's Canadian research found that 31% of adults, about 8.4 million people, report a life insurance coverage gap (LIMRA, 2024). Naunidh's view is that delay is a big part of how people end up there.

He also warned about the other side of the same mistake: cancelling protection. Policies can feel like an expense you can trim when money is tight, but the gap that opens when you stop paying may be hard to close later, particularly if your health changes. Eligibility and cost depend on the policy and your own circumstances, so this is a conversation to have with a licensed advisor before you cancel anything.

So what's the takeaway? Treat protection as part of the plan from the start, not a reaction to a scare. If you're building a business as well, the same logic applies to the people who depend on it. I wrote about that in Legacy and Family Business Succession for Founders.

Why Can Surviving Cost More Than Dying?

One of the clips from this episode is titled "Surviving Can Cost More Than Dying," and it captures Naunidh's case for critical illness cover (Real with Ritesh, November 2026). Recovery brings its own costs: time off work, treatment-related expenses and a household still needing to run. Critical illness insurance exists to help with that period, usually by paying a lump sum if you're diagnosed with a covered condition. The exact terms depend on the policy.

The numbers show why recovery planning matters. The Canadian Cancer Society reports that five-year net survival for all cancers combined is now 64%, up from roughly 55% in the early 1990s (Canadian Cancer Society, Canadian Cancer Statistics 2025). More people are living through serious illness, and living through it has a price.

That's my reading, not Naunidh's statistic: if more people survive, then planning only for the worst-case outcome misses the likelier one. Surviving a serious illness and rebuilding your finances are two separate jobs, and a plan should cover both.

How Did a $250,000 Policy Keep a Family's Restaurant Open?

Naunidh told a story from his own work, in the episode clip "The Policy That Saved a Restaurant": a $250,000 life insurance payout helped a family keep its restaurant and support its children's education (Real with Ritesh, November 2026). As he tells it, the money gave the family room to stay in the business and keep the children's plans on track. It's his account of one client, and results like this aren't guaranteed.

What stayed with me is how practical it is. Life insurance isn't "just money" in that story. It's the difference between a family keeping a business that feeds them and being forced to sell it at the worst possible time. For anyone running a small business, that's a different way to think about the word "cover."

He also spoke about what happens when arrangements are left unresolved: families can face complications when financial and estate details aren't clear or when relatives don't know a policy exists. His practical advice follows from that. Talk to your family. A plan nobody knows about can't help anyone.

1. 1
   Protect early

   Don't wait for a health scare. Eligibility and cost depend on your circumstances, and delay can narrow your options.

2. 2
   Don't cancel without advice

   A policy that feels like an expense today may be the thing that matters most later. Speak to a licensed professional first.

3. 3
   Tell your family

   Make sure your spouse or relatives know what's in place and who to call. Unclear arrangements add stress at the worst time.

What Do Late RRSP and RESP Contributions Really Cost?

Naunidh sees delaying RRSP and RESP contributions as one of the most common mistakes he comes across (Real with Ritesh, November 2026). Time does a lot of the heavy lifting in both accounts, so starting late means leaving growth and, in the RESP's case, government money on the table.

The Government of Canada explains that the basic grant is 20% on the first $2,500 of annual RESP contributions, to a lifetime maximum of $7,200 per child, and unused grant room can raise the yearly amount (Government of Canada, 2026). Lower-income families may qualify for additional amounts. Rules change, so check the current details.

Naunidh and I also talked about students who work several jobs while studying and supporting family, and why newcomers often have urgent priorities like tuition, rent and sending money home. Insurance and long-term savings get pushed back because they feel optional. His message isn't that you must do everything at once. It's that a small start is better than none, and that you should ask for advice earlier than feels comfortable.

If you're thinking about wealth more broadly, I covered a different angle in Building Wealth Through Business, Not Just Savings.

How Do You Choose an Insurance Advisor You Can Trust?

When we talked about what to look for in an advisor, Naunidh kept returning to trust, suitability and understanding your circumstances (Real with Ritesh, November 2026). A good advisor doesn't start with a product. They start by understanding your family, your income, your business and what you'd need if something changed.

He also made a point I appreciated as someone who values learning: the best professionals stay students of their industry. Rules, products and tax treatment change, and the advice people rely on for years has to keep up. That responsibility is part of the job.

• Do they ask about your situation before recommending anything?
• Can they explain, in plain language, why a product suits you and what its limits are?
• Do they have the relevant credentials and a record of continuing education?
• Will they still be accessible, and will they review your plan as life changes?

For people thinking about a career in insurance, he talked about finding your own way rather than copying someone else's path. That fits something I say often: borrowed plans rarely fit. If you want a second opinion on your own next step, that's what I'm here for.

This episode is for general educational and informational purposes only and does not provide personalized financial, insurance, investment, tax or legal advice. Personal experiences and client stories reflect the guest's account and are not guarantees of similar outcomes. Insurance eligibility, coverage, exclusions, benefits and tax treatment depend on the policy and individual circumstances. Consult appropriately licensed professionals before purchasing, changing or cancelling coverage or making financial decisions.

Frequently Asked Questions

Naunidh Hunjan's family learned what happens when protection comes too late. His message is simple: everybody thinks they have time, and the people who protect their families are the ones who act before they have to.

Watch the full episode above, then ask yourself the question I put to viewers: what's one financial decision you wish you'd made earlier? If you'd like help thinking it through, contact me and we'll map it together.