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What Type Of Life Insurance The Experts Own: Barry Choi

April 17th, 2014


Barry Choi
Director, CityNews

1. What type of life insurance do you own?
Just my employer insurance which covers death, disability (short and long-term) and travel. I currently have no mortgage and no dependents, so it's not a big deal, but I do have the option to buy top-up insurance through my employer benefits when I do need it.

2. What factors did you consider when determining the coverage amount?
When I do decide to purchase additional insurance, I'll make sure I'm covered for the usual: funeral costs, mortgage, and education costs if I have kids.

(What Type Of Life Insurance The Experts Own: Barry Choi continued...)

Critical Illness from a Broker Who Knows First-hand

April 16th, 2014
Broker and breast cancer survivor
Dawn Luhning knows the
seriousness of critical illness first-hand.

Dawn Luhning, a financial advisor for Desjardins Financial Security Investments and City Councillor based in Moose Jaw, Saskatchewan, knows the importance of critical illness insurance like no one else in her business.

"I started on the insurance side of the business in 2003 with Clarica, which is now Sun Life, and bought critical illness policies back then," she says. "Then, just last August, I was diagnosed with breast cancer."

With that, she became the first person on her client list to claim on a critical illness policy -- something she thought she'd never have to do in a million years.

(Critical Illness from a Broker Who Knows First-hand continued...) | 4 comments

Diets That Are Most Dangerous To Your Health

April 15th, 2014

Despite the rave reviews that promise extreme weight loss and euphoric feelings, trendy diets, detoxes, and cleanses are never really an ideal way to get healthy. Danielle Battram is an associate professor with the Division of Food and Nutritional Sciences at Brescia University College. She explains, "All of these fad diets tend to be restrictive... My radar goes up on that because then I question, 'Are you getting everything you need?'" With that concept in mind, here's a list of hazardous diets to avoid — despite their amazing claims.

Losing weight at the expense of your health. Is it
worth it?
(Diets That Are Most Dangerous To Your Health continued...) | 3 comments

Term 30/65 from Equitable Life: A Welcome Change to the Industry’s Set Ways

April 14th, 2014

A positive innovation

Are you looking through the available life insurance packages and not finding one where you don’t have to compromise about anything? Is it important for you to know that the insurance you get does not suddenly jump in terms of premiums after 30 years of stability?

(Term 30/65 from Equitable Life: A Welcome Change to the Industry’s Set Ways continued...)

Term vs. Permanent Insurance: What’s Better?

April 10th, 2014
crockpotfinance com
The eternal question.
Photo by crockpotfinance com

For insurance brokers, the eternal question they hear all the time is when it comes to term or permanent insurance, which type is better? Our LSM Insurance team fields this question constantly, and though we will continue to answer it ad infinitum, we decided for this article that we'd ask the question to some of the heavyweights in the financial world.

Canadian financial celebrity Gail Vaz-Oxlade answers the question this way: "Whether you buy 'term,' 'whole life,' or 'universal life' insurance will be dependent on two primary factors — the amount of insurance you need, and how long you need that insurance to be in place."

(Term vs. Permanent Insurance: What's Better? continued...) | 6 comments

Life Insurance for Parents with Special Needs Children

April 8th, 2014
Special needs children
Life insurance can insure the future
of your child with special needs.
Photo by the USA Engineer Corps
European Division

The Canadian Ministry of Employment and Social Development reports that 202,350 Canadian children had a disability in 2006, which accounts for about 3.7% of children between the ages of zero and 14 — interestingly, more boys (4.7%) than girls (2.7%).

For the parents of these children, the "special" in "special needs" has a pretty large downside that is barely talked about. Many of these children require 24/7 hands-on care and close monitoring. They do not hit the developmental milestones other children do, or they hit them at a much slower pace. 

While their parents absolutely love their children and would do anything for them, many don't talk about the anger, despair, and hardship that comes with the very taxing demands of raising a child with special needs.

(Life Insurance for Parents with Special Needs Children continued...)

21 Diseases the Doctors Haven’t Figured Out Yet

April 4th, 2014
Medicine By epSos 1
Medicine By epSos 

Medicine has come a long way since we used leeches and bleeding as treatments, but for every cure we discover, we find yet another illness that baffles the brightest minds in the medical field. Although we've made some progress in the identification and treatment of many ailments, doctors are still scratching their heads over these maladies.

1. Gulf War Syndrome (GWS): Not to be confused with post-traumatic stress disorder, GWS symptoms include fatigue, muscle pain, cognitive challenges, rashes, and diarrhea. This strange disorder affected over 30% of Gulf War veterans, and for many, their symptoms worsen or persist with time. Veterans of latter wars, such as Iraq and Afghanistan, are also starting to show GWS symptoms. Suggested culprits includes depleted uranium, sarin, gas, smoke from oil wells, vaccinates, and work stress. Too bad we can’t just cancel all wars until we figure this one out.

( 21 Diseases the Doctors Haven’t Figured Out Yet continued...)

What Type Of Life Insurance The Experts Own: David Christianson

April 3rd, 2014


David Christianson
Vice President, National Bank Financial

1. What type of life insurance do you own?
A combination of term 10 for temporary needs (income replacement, earlier in my life for debt coverage) and permanent insurance, for permanent needs (estate liquidity for taxes, corporate-owned for CDA to help reduce tax on post-mortem distributions).

2. What factors did you consider when determining the coverage amount?
a. For income replacement, I look at family expenses and the capital needed to replace that and provide a surplus. This involves making a reasonable and conservative assumption about the income that can be produced from the estate capital, in the event of the death of a breadwinner.

(What Type Of Life Insurance The Experts Own: David Christianson continued...)

Assumption Life’s Vision for the Future

April 1st, 2014
Andre Vincent
Assumption Life CEO Andre Vincent told
the Insurance and Investment Journal
the company's plans for the future..

Assumption Life took a huge risk in 2013, and it paid off in a big way.

That year, they took universal life products out of their line-up entirely and decided that they would only offer insurance products that could be sold through their online platform. 

The plan worked better than anyone could've anticipated because Assumption Life was able to keep their entire sales force and increase their revenue.

“Younger advisors love the idea of only operating on an electronic platform. Older advisors are a little more reluctant, but they get over their reservations once they have tried it,” explained Assumption Life's CEO Andre Vincent to the Insurance and Investment Journal.

(Assumption Life's Vision for the Future continued...)

UPDATE: E-Cigarette Users and Life Insurance

March 31st, 2014
Lindsay Fox e cigarette
E-cigarette users are considered
smokers by insurance companies.
Photo Lindsay Fox 

This article is getting discussed quite a bit on Twitter. See below to check out what people are saying:

( UPDATE: E-Cigarette Users and Life Insurance continued...)

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