Lately, doctors had something to say about this during the Canadian Medical Association’s general annual meeting in Niagara Falls. The doctors overwhelmingly expressed the opinion that this sport should be outlawed. Their arguments are that MMA is a dangerous sport with a large probability of injuries – much larger than boxing, for example.

Mixed Martial Arts in Canada – What Is the Risk?

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Why should I buy from LSM Insurance?

LSM Insurance is committed to providing innovative and reliable insurance solutions. We have been in business for over 17 years and work with over 13 different insurance carriers that provide a whole host of term and permanent life insurance programs. We take a holistic approach when looking at your insurance needs and always try to exceed your expectations. We are also very active when you need us most – especially during the claims paying process – we walk the claimant through any necessary paperwork and follow up with the insurance company, making the process as seamless and as trouble free as possible.

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You've probably seen the commercials for Manulife FlexCare plans on television. Well, as of Sept. 1, 2010 various enhancements will be added to the program and the benefit to members will be increasing.

For those unfamiliar, these plans are non-medical health and dental plans that don't require the filling out of medical forms,  the undergoing of medical exams or the answering of health questions in order to qualify.

FlexCare Manulife Enhancements Starting Sept.1

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May Alexander knows all about kids and accidents. As mom to two active boys, ages five and seven, she's seen her fair share of bumps and bruises. Those she can handle, but it's the big things - major accidents or injuries - that scare her: first and foremost the horror of her children getting hurt, but also how she'd cover the cost of everything from rehabilitation to prosthetics. As a result, this Toronto mother invests in accident insurance ... just in case.

"Anything that says 'insurance' on it, I go for it," says Alexander (not her real name). "It is not very expensive and I don't know if I could come up with the money myself to replace (a) leg."

With kids heading back to school, embarking on field trips and gearing up for sporting activities, a primary concern is safety. Each September, school boards provide parents the opportunity to purchase student accident insurance and pamphlets usually go home the first week of school.

Peter Duncan, who coordinates the insurance program for the Rainbow District School Board in Sudbury, Ont., says participation is voluntary. "We don't mandate it but we strongly recommend it, particularly to parents of children in sporting activities… where getting your teeth knocked out is a pretty common event."

That said, take up "is unbelievably low," he says. "I think people assume they're covered elsewhere or that the board insures students, but we don't."

Between Canada's health-care system and for some, employer group insurance plans, many parents have coverage. But accident insurance is designed to fill the gaps or provide peace of mind for those, like Alexander, who aren't part of a group plan.

Insurance offer round the clock coverage
This type of insurance not only covers accidents that happen at school, but anytime anywhere, even during summer holiday. Coverage is 24/7.

"It's a fairly niche product and there are not a lot of companies that offer it in Canada," says Lorne S. Marr, founder of LSM Insurance in Markham, Ont. "It tends to be sold through direct marketing and there is not a lot of broker networking involved."

Most programs in Canada are underwritten by Vancouver-based Industrial Alliance Pacific (IAP) and Hamilton, Ont.-based Reliable Life Insurance.

Reliable Life Insurance operates the parent-friendly website, InsureMyKids.com, where families can choose from a variety of plans -- Bronze, Gold, Silver and Platinum. The IAP Kids Plus program includes the Active Plan, as well as the cost-conscious Value Plan.

How much is it?
When Tony Phillips thinks back to his own accident-plagued youth, he wonders if the same series of broken bones and mishaps is in store for his boys. With that in mind, the Oakville, Ont.-based dad is taking a hard look at accident insurance. "The price seems low… it might be a good idea," he says.

InsureMyKids annual fees range from $12 to $26.50, covering September to September, while Kids Plus costs $13.50 or $31.95.

What's covered?
Coverage is quite detailed. For example, InsureMyKids offers unlimited dental and limited coverage for future dental as a result of the initial accident; a per diem for dismemberment or loss of use of an extremity (a toe might fetch $150, but a foot would be $150,000); total permanent disability and death; $300 for eyeglasses (if broken or not required prior to the accident); $6,000 tuition benefit to cover things like at-home tutoring; extended hospital coverage; $6,000 for rehabilitation; and $750 for a fracture or dislocation.

Note, however, that benefits are geared towards those who are involved in an accident: it is in no way a replacement for traditional health benefits.

It's important to read the fine print, of which there is plenty, to get a true sense of the details, which include everything from reimbursement for hospital parking to coverage for those who get rabies. Then there are the incidentals -- things most parents don't, or would prefer not to think about: repatriation of the body for accidents outside the country, family transportation and accommodation should a child be injured away from home, counselling, and little things such as money towards the rental of a hospital TV.

Who's eligible?
It's worth noting that it's not just for kindergarten, elementary or secondary school students. InsureMyKids insures any child over six months who attends a licensed day care, preschool or play school full time, as well as college or university students (as long as they haven't made arrangements to take a full-time job). Students who are home-schooled are also candidates, as long as their curriculum is board or ministry approved.

Through IAP, children between six months and 19 years are candidates, regardless of whether they attend school. Those 20 or older can be enrolled in the company's Adult Plan. IAP also covers most children with illnesses, such as cancer or epilepsy, however injury or death as a result of the pre-existing condition are not covered.

Is it worth it?
"Accident insurance tends to be a higher profit product for insurance companies because the chances of (using it) are pretty low," says Marr, adding that as with all kinds of insurance, it comes down to mitigating risk. "Any coverage has some value, but you have to weigh that value… the chances of a child losing a limb is, thankfully, very infrequent."

For parents like Alexander, however, it's the one investment they're willing to make, with the hope it never pays off. "I am superstitious," she says. "I like to believe that if I buy it, I won't have to use it."

By Michelle Warren - On Bankrate.com

BankRate.ca: Student accident insurance

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Non-medical life insurance policies are often misunderstood. The following are five of the most common non-medical life insurance myths:

Myth 1. Non-medical life insurance means that there are no medical tests or health questions. Non-medical life insurance policies are broken down into two categories, guaranteed issue life insurance, which has no medical tests and no health questions, and simplified issue plans, which have non-medical tests and three to 12 health questions.

Myth 2. All no medical life insurance plans are priced the same or very similar. Guaranteed issue policies are generally much more expensive than simplified issue policies, and even among simplified issue policies, there can be sharp differences in premiums -- often up to 50% or 60%.

Non-Medical Life Insurance Myths

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Canadians are living longer than ever before, and while this is good news, it does have a financial impact. According to Statistics Canada, one in every seven Canadians is 65 and over.

Provincial health insurance plans do not have the resources to pay the full cost of long-term care. They provide no coverage for private facility care and pay only a limited amount for care at home.

Expenses for private nursing, cleaning, shopping, travel, etc. are primarily the insured's responsibility. These costs can add up to thousands of dollars and can create a major dent in their family's financial situation. Assets can deplete in a matter of years and sometimes months.

Long-Term Care Insurance: Why you Need it More Than Ever

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Is Life insurance tax-free?

Life insurance death-benefits are tax-free. the premiums on life insurance policies are generally paid with after-tax dollars, rather than pre-tax dollars. However, with Permanent Life insurance policies, there is cash value that grows (within the tax exempt limits of Canada) on a tax-sheltered basis. This money can then be used to offset future premiums. The net-effect premiums are then once again being paid with pre-tax dollars, rather than after tax dollars.

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BMO Insurance offers a children's life insurance plan sold directly via its call center and not its broker network. The plan is called the “Headstart in Life Plan.”

BMO's Children's Life Insurance Plan

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BMO Insurance’s Easy One plan is a non-medical life insurance - simplified issue plan sold directly via the BMO call center and is not available through its broker network. The plan features are below:

Five Facts about BMO Insurance

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What is Universal Life insurance?

Universal Life insurance is an unbundled form of Permanent Life insurance, which means the life insurance and the investment component are separate. Most insurance companies allow the insured to choose from a wide variety of investment options and the investments can grow on a tax-sheltered basis.

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