“Term insurance” usually means “level term life insurance”. It provides a level amount of coverage for a specific length of time (term) and with a level premium. For example, someone may take out a policy for a 20 year term with a death benefit of $250,000 and pay a premium of $32/month. So for the […]
Decreasing Benefit Term Life Insurance
Decreasing benefit term life insurance is a policy that has a specified duration (term), a level premium, but a face amount of coverage that decreases each year. For example; a person may have a decreasing policy that starts with $250,000 of insurance in the first year and decreases to zero by year 20. The premium […]
Life Insurance Isn’t for Everybody
This is probably not a topic that an insurance brokerage would bring up, but it’s the truth. If you have no dependents and are not married or common law, then you probably do not have an obvious “insurable need”. There are some exceptions, so please continue reading… Life insurance protects your loved one’s standard of […]
What a Life Insurance Agent Does
A life insurance agent or “producer” is an individual that is licensed sell life insurance products to the public. These agents help individuals, families and businesses with identifying and implementing the most appropriate insurance solutions that is best suited for their needs. A life insurance agent must be very familiar with the vast number of […]
Toronto’s Life Insurance Industry
Protection for the People Canada’s life insurance industry has a significant impact on the well-being of the people of the Toronto area. This industry provides a range of financial products that are critical to protecting the financial future of nearly 4.5 million people living in the GTA. The industry… Provides about 3.5 million people in […]
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 […]