Perhaps the furthest thing from your mind when a loved one passes away is dealing with a life insurance claim. Many Canadians are unsure what about what to do when they find themselves in this difficult situation. It can be extremely overwhelming planning a funeral, dealing with lawyers, family matters and many other things, but […]
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Life Insurance Underwriting
Underwriting is the process that insurance companies use to determine the risk profile of the applicant, whether or not the policy will be approved, and what the premium will be. The life insurance underwriter has many factors to consider before an offer to insure an applicant is made. Some of the considerations are… – The […]
Life Insurance Industry Facts
It’s way more than just insurance: Through a wide range of products and services, the life insurance industry helps Canadians to protect themselves and their families against the financial risks of premature death and illnesses. It also serves Canadians with some retirement planning solutions. Products and services include individual and group life insurance, supplementary health […]
Life Insurance for High Risk People
High risk life insurance is for people who engage in hazardous activities or have a serious health condition. There are several activities that are considered “risky” by an insurance company… scuba diving (to certain depths), certain extreme sports (motorsports, heli-skiing, back-country skiing), commercial fisherman, logger, or pilot, skydiver, mountaineering, bungee jumping, etc… There are a […]
Life Insurance for Seniors
When we reach the age of “only” 50 we may start to find it difficult to get approved for life insurance. For many of us there is considerably less of an insurance need but we might be concerned about not leaving a financial burden for things like funeral costs, or helping your beneficiaries cover any […]
Life Insurance and Tax
The tax laws regarding life insurance in Canada are not terribly complicated, but there are certain tax strategies that use life insurance that can be very complex. It’s always recommended to consult your certified tax professional for any tax matter. This article will discuss the basic components of taxes and life insurance and they are […]
Introducing Term Life Insurance
Term life insurance is a great way to get coverage for a specified period of time. Buying life insurance is for the protection of loved ones (or even business partners), to eliminate the risks associated with the loss of an income earner or key person. The use of “term” insurance is often recommended because the […]
Helpful Hints for Buying Life Insurance
1. Determine How Long You Need Insurance For. Term insurance is the most affordable and more widely available than permanent insurance (UL, T-100, Whole Life). As a result the prices can be pretty competitive. Insurance companies will require that you get a medical exam to assess your health and their risk to insure you. There […]