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Tips When Replacing Your Life Insurance

Because life insurance agents are normally compensated with commissions, there are some bad apples out there that will sell anything to make a buck.  Even if you have a good life insurance plan in place, they may recommend cancelling it and replacing it so they can sell you a new policy.  Before you cancel or […]

Term 100 Introduction

Term 100 is a type of life insurance that offers a coverage up to age 100, or until the insured person dies (if they live past 100). With this type of policy the premiums are averaged from the insured person’s age at the time of applying until age 100 and then they paid until age […]

Processing a Life Insurance Claim

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 […]

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 […]

Guaranteed Life Insurance

Guaranteed life insurance (or guaranteed issue life insurance) is a life insurance policy that is literally guaranteed to be issued regardless of your health.  Sounds good right?? Sort of…but it comes at a price. If you’re considering guaranteed issue insurance, then be absolutely sure that it’s your only option.  An independent insurance advisor might be […]

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 […]

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 […]