When someone applies for life insurance in Canada, only one of three things can happen:

1. The policy is approved. This happens to about 80% of all applicants, although the number is much higher among younger applicants, since younger people are generally healthier.

2. The policy is issued, but on a rated basis. This means that the insured is approved, but the premiums are higher due to health or lifestyle issues.

3. The application is declined. Once again, this would be related to health or lifestyle issues, but in this instance the insured is denied insurance completely.

What Should I Do If My Application Is Declined?

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For most people, a life insurance policy is a way to protect assets or maintain a lifestyle for dependents when the main breadwinner passes away. This makes such policies for children seem unnecessary and even morbid.

But insurance broker Lorne Marr argues juvenile policies can be a financial "gift" for parents to bestow upon their children, ensuring lifelong coverage at a relatively low price. A Term 20 policy begun when a child is two, for example, will be fully paid by the time the child leaves university, can be upgraded at specific milestones, and means the child is covered even if he or she later develops a serious medical condition.

The Wall Street Journal: Nothing Morbid About Child Life Policy

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La Capitale offers a variety of term life and permanent life policies at competitive rates.

They have a special niche on their Term 20, Term 25 and Term 30 riders. These term riders are available on non-participating individual and joint permanent policies. Any rider for $100,000.00 or more will be given the premium band on a $1,000,000. This results in the insured paying substantially lower premiums on a La Capitale plan with under $1,000,000 of coverage.

Life insurance companies generally have five or six rate bands on their life insurance products. The higher the face amount, the higher the rate band and the lower the cost of insurance per thousand dollars.

For more details, call us at 1-866-899-4849 or visit our Instant Online Quote Page.

La Capitale: Term Insurance Riders with a Unique Difference

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LSM Insurance Cricket for Haiti has been featured on South Asian Omni News.

Nearly 200 players including under-19 and women cricket players attended the opening ceremony of a three-week cricket tournament in Toronto will be played to help raise awareness and funds for the disaster relief effort in Haiti.

Read more about the cricket tournament on the South Asian Focus website.

LSM Insurance Helps Cricketers raise funds for Haiti victims

Post from: Life Insurance Canada

La Capitale now offers a unique combination life and disability insurance plan.

The life insurance portion can either be a term life or a permanent policy and the insured has the option of adding a disability income benefit. The minimum benefit amount is $250.00 a month, while the maximum benefit amounts are $5,000.00 a month.

If the disability insurance is used to cover a mortgage loan or a line of credit, the maximum monthly disability benefit is 2,000.00 a month. The elimination period is 90 days, but it is retroactive to the end of the first month of the policy. The monthly benefit periods can be two years, five years, or until expiration of the coverage.

Issue ages on a 20-year term policy can be 18 to 55. On a 25-year term policy, they can be 18 to 44 and on a 30-year term policy can be 18 to 39.

For more details, you can contact us at 1-866-899-4849, or visit our Disability Insurance Quote Page.

Combination Life Insurance and Disability Insurance in One with La Capitale

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Wawanesa Life has renamed its non-medical life insurance plan: Instant Issue Life Insurance. The plan now provides 5,000.00 to $50,000.00 in face amounts, handed out in Increments of $2,500.00. The non-accidental death benefit is limited to a return of premium plus interest in the first two policy years.

Wawanesa: Instant Issue Life Insurance

Post from: Life Insurance Canada

As the name describes, whole life insurance provides for the insured's entire lifetime. The policies can generally be broken down into two types:

Participating Whole Life policies participate in the insurance company's profits. These plans provide level premiums and lifetime protection, but also have a higher cash-value and an increasing death benefit that is based on the insurance company's dividend scale.

The Best Whole Life Insurance Plans in Canada

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In answer to the title, the short answer is, "no." The long answer is, it may cost you more money than buying life insurance through traditional channels.

There are four reasons for this.

1. Some websites only offer their own in house plans. This can result in paying a significant premium above those offered by independent brokers. Independent brokers work with a variety of companies and can shop for the best possible solution at the best possible price.

2. By not getting a thorough understanding and analysis of the plan you're buying, you may purchase the wrong plan. This could cost you and your family thousands of dollars.

Is Buying Life Insurance Online Less Expensive?

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The Life Insurance Disability Waiver is a rider which can be added to most Term Life or Permanent life insurance policies. Generally, the Disability Waiver option waives the insurance premium in the event that the applicant becomes disabled.

There are three caveats with the Disability Waiver rider:

Life Insurance Disability Waiver versus Disability Insurance

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Term to 75 life insurance coverage provides level rates and a level death benefit until age 75. Only a limited number of life insurance companies in Canada offer this type of coverage. The plan does not build up a cash-value, but is generally convertible to a permanent plan without a medical.

Below are the three providers offering Term to 75 coverage for a 40-year-old, male non-smoker:

The Best Term to 75 Life Insurance Rates in Canada

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