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Kevin Cahill | Founder of Canadian Legacy Builder

September 2nd, 2014


Kevin Cahill, B.Sc.(Hons), CFP, CHS, CLU, EPC
Founder, Canadian Legacy Builder

1. What type of life insurance do you own?
I own a combination of Permanent Cash Value Whole Life and Term Insurance. I am worth significantly more dead than I am alive, but I know that my debts and obligations will never outlive me. I do plan, as time evolves, to convert it all to a permanent plan, as the only effective life insurance is the one that is in force the day you die.

Every person who has ever been loved by someone leaves a legacy of some kind, but most don't know where to start or what to do. This is where Life Insurance comes in. Most of us take many basic things for granted: warm clothing, food on the table, a roof over our heads. Unfortunately, these basic necessities are not available to everyone. Yet, with insurance, I can guarantee my son will be okay financially long after I am gone.

(Kevin Cahill | Founder of Canadian Legacy Builder continued...)

Buying Life Insurance From An Independent Agent vs. Captive Agent

August 29th, 2014
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Photo by : thetaxhavenCC BY 2.0

When potential clients decide it’s time for them to purchase a life insurance policy, it's more than likely they don’t know where to start. At this point they should decide if they want to deal with a captive agent or an independent agent.

Both have their perks and downs, but ultimately the client needs to choose one.

An Independent Agent is someone who has connections to multiple insurance companies, where as a Captive Agent is only connected to one insurance company, therefore he or she will only sell products from that specific company.

(Buying Life Insurance From An Independent Agent vs. Captive Agent continued...) | 2 comments

The Frugal Trader|Blogger, The Million Dollar Journey

August 27th, 2014


The Frugal Trader
Blogger, The Million Dollar Journey

1. What Type of Life Insurance do you own?

My spouse and I have term life insurance through a large national insurance company. Our day jobs also provide term life insurance as part of their benefits package.

2. What factors did you consider when determining the coverage amount?

Life insurance is about financially protecting dependants in case household cash flow is affected after death. So the key question is, who is dependant on my cash flow and how much would they need after my death? Every situation is different, before we had kids, both of us were working professionals with a modest home. Realistically, we would survive without one of the salaries, providing debts are paid off. In this case, we purchased enough term life insurance to cover our debts, which at the time, was our mortgage, student loans, and a car loan.

(The Frugal Trader|Blogger, The Million Dollar Journey continued...)

LSM Insurance Takes The ALS Ice Bucket Challenge

August 22nd, 2014

LSM Founder Lorne Marr and Senior Broker Jack Bendahan took the ALS Ice Bucket Challenge! 


Please donate to the cause and help LSM Insurance reach our fundraising goal of $2,000 to support ALS Canada and help find a cure. LSM Insurance will be matching the first $50 donated through our Ice Bucket Challenge donation page.

Here are some other popular Ice Bucket Challenges worth taking a look (and having a laugh) at:

Rob Ford

Montreal Canadiens' P.K. Subban

Toronto Maple Leafs' Nazim Kadri and The Toronto Raptors' Mascot

Bill Gates


George W. Bush


How Amyotrophic Lateral sclerosis (Lou Gehrig's Disease) impacts peoples ability to get life insurance

In terms of life insurance, ALS is classified as a Motor Neuron Disease and while other Motor Neuron Diseases like Multiple Sclerosis can qualify for traditional fully underwritten life insurance, in most instances ALS is not available for traditional policies. Non medical life insurance is an option for people with ALS.

Non medical policies can be broken down into two categories:

  1. Guaranteed Issue policies with no health questions and no medical tests. Guaranteed Issue plans are more expensive, have more limited face amounts and generally have a 2 year waiting period on the death benefit.
  2. Simplified Issue plans which have a short series of health questions and no medical tests. Some Simplified Issued Issue plans do not have any ALS questions but often have a catch all question asking "if you are hospitalized or bedridden". Simplified Issue plans are more expensive than traditional policies but less expensive and less restrictive than Guaranteed Issue plans.

The Dumbest Insurance Fraud Attempts Ever: #9

August 21st, 2014

Dead Man Caught Speeding

It was a tough time for Raymond Roth, a 47-year-old man from Massapequa, after he was fired from his job as a telecommunications manager for threatening to shoot two supervisors. Tired of working, he came up with a "better" plan for how to financially secure his future. Roth increased the size of his life insurance policy and asked his son, Jonathan, to help him carry out a brilliantly stupid insurance fraud scheme.

Abandoned Shoe by Marian Craig
Abandoned Shoe by Marian Craig
(The Dumbest Insurance Fraud Attempts Ever: #9 continued...)

Does Life Insurance Pay Out for Acts of War?

August 20th, 2014
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Photo by Tom HanniganCC BY 2.0

When you buy life insurance, essentially what you receive from your broker is a promise. It's a promise to be there for you and most importantly, your beneficiaries. But when all you see in the news are the terrifying accounts of wars ─ the most recent outbreak in Gaza, it wouldn't be surprising for some of us to doubt this promise.

(Does Life Insurance Pay Out for Acts of War? continued...) | 18 comments

Leslie Beck’s 7 Ways to Lower Your Blood Sugar

August 18th, 2014
Leslie Beck Headshot
Leslie Beck tells you how to fight Type 2 Diabetes

Leslie Beck is one of Canada's leading nutritionists.

While she still works in private practice as a registered dietitian, you may know her better for her weekly column in The Globe and Mail or her appearances as a nutrition expert on Canada AM. She is the author of 12 books on nutrition and healthy eating including her latest, The Plant-Based Power Diet. She also has consulted for businesses and food companies around the world and has served as a nutritionist for the Canadian International Marathon and the Toronto Raptors.

Obviously, there's no one better to ask when it comes to strategies for lowering your blood sugar if you live with Type 2 Diabetes, something important to us because a Type 2 Diabetes diagnosis can greatly impact your insurance rates or even your approval for insurance in general. You could receive a rating, which could give you a rate that's practically double what other policyholders are paying.

(Leslie Beck's 7 Ways to Lower Your Blood Sugar continued...) | 4 comments

Barry Choi | Budget Travel and Personal Finance Expert

August 18th, 2014


Barry Choi
Budget Travel and Personal Finance Expert at

1. What type of disability insurance do you own?
I currently have a generous short and long term disability insurance plan through my employer.

2. What factors did you consider when determining the coverage amount?
I didn't need to consider anything. After reading my policy and consulting with experts, I felt I had enough coverage. Of course, if I ever change companies I'll need to rethink this.

(Barry Choi | Budget Travel and Personal Finance Expert continued...) | 2 comments

Travelance is Launching New Seniors Emergency Medical Insurance Plan

August 7th, 2014
travelance logo
Travelance is launching their new
Seniors Emergency Medical Insurance Plan

Travelance is a marketer and distributor of travel insurance products that offers a variety of travel insurance plans at affordable prices no matter what your travel plans are including trip cancellation/interruption, trip delay, baggage, air flight accident and more!

Emergency medical insurance plans are available to both visitors to Canada who are ineligible for coverage under Canada’s public health care system and travelling Canadians with a valid government or university health insurance plan (GHIP/UHIP).

The company is releasing effective August 1, 2014, their new Travelance Seniors Emergency Medical Insurance policy. Specially designed "to meet the needs of those aged 50-89 years with a valid Canadian government health insurance plan (GHIP)", this newly revised policy includes many new features as well as upgrades to existing ones.

(Travelance is Launching New Seniors Emergency Medical Insurance Plan continued...) | 4 comments

The Dumbest Insurance Fraud Attempts Ever: #8

August 6th, 2014

Two Men Cut off Mentally Disabled Man's Hand in an Insurance Scam

It is horrifying what some people are capable of through their desire for money. Three men in Cayce, South Carolina, plotted and carried out a gruesome insurance fraud scheme that was based on cutting off one of the accomplices' hand. A 52-year-old mentally disabled man, Michael "Porky" Weaver, let his "friends" Gerald B. Hardin and David Player amputate his hand using a pole saw — a small chainsaw attached to a pole, normally used to remove tree limbs.

Rooftop Shadows by Theo
Rooftop Shadows by Theo
(The Dumbest Insurance Fraud Attempts Ever: #8 continued...) | 3 comments

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