Archive by Author

How Much Life Insurance Do You Need? (part 2)

This is continued from PART 1 Here’s how it works out… Let’s assume that the breadwinner earns $50,000 each year.  We will use the income approach to determine the amount of coverage needed on his life.  The duration of the risk is 25 years and the assumed interest rate is 3% (this is the inflation […]

How Much Life Insurance Do You Need? (part 1)

What is your life insurance “need”? Well, to get things started off I think that a distinction between “needs” and “wants” is important. For the sake of simplicity I won’t be discussing other forms of insurance (i.e. critical illness, disability insurance). An insurance “need” arises where there are definite, identifiable risks to the people that […]

Paid-Up Life Insurance – The INs and OUTs

“Paid-up” life insurance or “limited-pay” life insurance is permanent coverage (to age 100) that has a specified premium schedule.  The premium schedule is normally shorter than the coverage period, and the insurance becomes “paid-up” at the end of the schedule.  This means that the coverage continues and no further premiums are required.  In essence the […]

Advocate for Your Best Rate!

In my years as an insurance advisor I’ve seen it all when it comes to medical challenges and getting the approval from an underwriter.  Some clients come to me having been declined or after having to pay an additional premium (a substandard rating) on their insurance policies to get help.  Removing a substandard rating can […]

“Smoker” Life Insurance Rates – Say Good-Bye and Save

It used to be that 50% of the adults in Canada smoked, but times have changed since that statistic was released in 1965.  Today between 15% and 20% of adults admit to smoking some form of tobacco on a regular or occasional basis, and many Canadians are thinking about quitting or have quit altogether.  This […]

Universal Life – When and Why?

Over the years there has been much debate between insurance sales people offering their advice on Universal Life Insurance.  You’ve no doubt heard the “buy term and invest the difference” company say that it’s always better to buy term insurance and invest your extra cash flow in a solid investment portfolio.  You may have also […]

Mortgage Insurance: Turning a Lose, Lose into a Win, Win

This topic has been a controversial one for a few years now and I thought that some facts might help to clear things up. Many Canadians own homes and have a mortgage.  When we get a mortgage we are also offered “mortgage” protection from the banker or mortgage salesperson.  This is where the controversy starts […]

When is Your Renewal?

Info  PR: n/a  I: 99  L: 0  LD: 439  I: 1  Rank: 3903220  Age: September 23, 2010  I: 0  whois source Robo: yes Sitemap: yes  Rank: 2161582  Price: 306 Links: 70|9 Density Term Insurance – When is the renewal? The name “Term Insurance” is meaningful because it’s insurance for a specified “term”.  The premiums and […]