Hundreds to Bike and Hike for Health

Photo by Dave Gingrich

More than 1,200 cyclists and walkers are limbered up and ready to boost Kitchener-Waterloo's heart health this weekend as they take to the streets and paths to raise $200,000 for St. Mary's Regional Cardiac Care Centre. Sponsored by Manulife Financial since 1993, this year's Bike and Hike takes place Sunday, June 1. To date, the Bike and Hike has raised more than $2.5 million for regional heart health, with $1.4 million directly benefiting St. Mary's Cardiac Care Centre.

Traditional and Well-Priced

Canada Life Assurance Company, one of Canada’s oldest and most reputable life insurance companies, has a very well-priced traditional term 10 and term 20 plans. The plans are renewable and convertible to any of their permanent policies. Both plans have a $100,000 minimum face amount; the Term 10 plan is available to applicants aged 18 to 75, while the Term 20 plan is available to applicants aged 18 to 65.

Unique characteristics of group insurance providers

Illustration by Grant Hutchinson

The group benefit marketplace in Canada is very sophisticated and highly competitive. The following summarizes some of the differences between group carriers in Canada. This is just a partial list; when analyzing your company’s group insurance needs, we would provide a complete analysis.

Pick-a-Term, Any Term

Industrial Alliance Pacific and its parent company Industrial Alliance Insurance and Financial Services Inc. offer a unique Pick-a-Term program. The plan is available on an individual or joint life basis. Applicants can be between 18 and 70 years of age, and is available in face amounts as low as $20,000.

Why choose LSM Insurance for your employee benefit needs?

Group insurance plans offer a full range of options. Deciding on the right benefit plan starts with choosing the right broker. The following are five reasons why LSM Insurance is the right choice for your company’s group benefit needs.

A Strong Term Lineup

Unity Life of Canada has been selling insurance in Canada for over 100 years, and although they advertise less than some of their competitors they have one of the strongest term insurance lineups in the Canadian marketplace.

They are one of the few companies to offer 5, 10, 15, 20, 25 and 30-year terms. And unlike most companies, their entire term lineup is competitively priced. Unity Life’s Term plans come in face amounts of $50,000 to $5,000,000 and are available on a single life or joint first-to-die basis.

Group Insurance: Getting the best value

True group benefit specialists know how each insurance company ranks when it comes to key plan features. There are features that shouldn't be overlooked when choosing a company benefit plan. We have compiled these into a list for you. If you read our recommendations you'll be able to get the best group insurance value.

Manulife supports earthquake relief efforts in China

Manulife Financial and its staff and agents are donating at least RMB2million (CAD284,000) to support the relief efforts in the areas of China affected by Monday's earthquake.

The donation will primarily go to the Red Cross Earthquake Appeal and be used to provide aid to the areas of China impacted by the disaster.

The company has a total of 766 staff and agents in Sichuan Province.

Questions you should ask your group benefits broker

life insurance by Michael P

The cost of group insurance coverage has risen sharply in recent years. That's why we've compiled a list of questions you should ask your group benefits representative to make sure he/she is really looking after your best interests. We're sure these questions will help you save on your group benefits plan.

Great-West Life’s Term Policies

In 2003, Great-West Life Assurance Company acquired Canada Life Assurance Company. The transaction brought together three of the largest insurance companies under one financial roof—Canada Life, Great-West Life and London Life Insurance Company.

Great-West Life’s Term 10 and Term 20 plans mirror Canada Life’s Term 10 and Term 20 plans, but each company brands its own plan and uses its own distribution team. They are renewable and convertible to any of their permanent policies. Both company’s plans have a $100,000 minimum face amount, and the Term 10 plan is available to applicants aged 18 to 75, while the Term 20 plan is available to applicants aged 18 to 65.

Term or Permanent?

Should I buy term insurance or permanent insurance? This is likely the most frequently asked life insurance question. Many insurance and financial “experts” will give a uniform answer, but reality is not so simple. Life insurance is not a uniform product: the right insurance depends on the applicant’s objectives. In the latest addition to our Life Insurance Tips section we've tried to answer this classic question, which insurance is best, term or permanent?

Four Features for Future Fortunes

Canada Life Assurance Company offers four types of disability plans: lifestyle protection plan, independence plan, overhead expense plan, and a buy/sell plan. Its flagship disability product is their lifestyle protection plan. The plan is non-cancelable (i.e., you can cancel the plan but the insurance company cannot) and is guaranteed renewable. The policy is designed for professionals, business owners and executives.

Standard Life Canada turns 175

This year marks Standard Life's 175th anniversary in Canada, and to commemorate this event, Standard Life is creating a $1.75 million endowment fund to enhance its current community investment program. "Standard Life's 175 years in Canada have been marked by important achievements and major contributions to the economic and social fabric of the country," said Joseph Iannicelli, President and Chief Executive Officer in a press release.

Check out our Standard Life company profile, news, and policy reviews.

Industrial Alliance buys Aegon Dealer Services

Industrial Alliance Insurance and Financial Services Inc. is continuing its wealth-management expansion with a deal to take over National Financial Corp., whose operations include Aegon Dealer Services Canada, Money Concepts (Canada) and National Financial Insurance Agency.

Industrial Alliance did not disclose the terms of the transaction with the Canadian unit of Dutch insurer Aegon Group. The deal announced Friday is the 13th takeover in the Quebec City-headquartered company's drive into the wealth-management business in recent years.

Brokers’ business: Creating work-life balance

The financial services business can be invigorating and highly rewarding, but it can also sap the energy of the most seasoned advisor. The stress of the industry can adversely affect an advisor’s health and personal life. We have recently launched a new section of articles written on how to be a better life insurance broker. The latest addition to this growing list of tips for brokers focuses on creating work-life balance. Check out our tips that will help improve your morale and enhance your bottom line.

Transamerica’s Turbo Terms

Transamerica Life offers a Term 10 and Term 20 plan. Their Term 10 plan is available to individuals from 0 to 70 of age, and their Term 20 plan is available to individuals ages 0 to 60. Both plans are available in face amounts from $50,000 to $10,000,000 –- amounts in excess of $10,000,000 are available on a special case basis. Both plans are also renewable to 80 and convertible up to age 65. Available riders include: children’s life rider, accidental death and dismemberment benefit, and a waiver of premium on disability.

AIG is now BMO:AIG and their Preferred term

AIG Life offers Term 10 and Term 20 plans which are well priced and provide some competitive advantages. Both plans are renewable to age 85, and are convertible up to age 70. The plans also allow you add a living benefit rider, thus saving the $6.75 per month policy fee.

Empire’s Whole Life: Five dividend options

Empire Life is one of the few life insurance companies in Canada to offer both participating and non-participating whole life policies.

Their non-participating policy – the 20 Pay Solution – is fully guaranteed and very well priced. The plan is fully paid-up after 20 years, after which cash values are available by loan or surrender at any time. The one caveat is if the policy owner cancels his/her policy before its twentieth anniversary, the plan has no value. 

Our new look

We are proud to present our re-designed website. We hope that you'll find the navigation more intuitive, and the new content useful. Also, we look forward to your feedback. Please let us know if you like our new look and if it really makes your overall experience more enjoyable.

Manulife’s competitive Universal rates

Manulife Financial has two universal life plans, Security Life and InnoVision. Security Life is available with face amounts from $50,000, and is geared toward the family market. The policy is one of the few universal life plans within the Canadian marketplace to allow withdraws from the accumulation fund without any surrender penalties.

B.C., Alberta amend insurance laws

The British Columbia and Alberta governments have introduced amendments to their respective insurance laws to live up to the spirit of the Trade, Investment and Labour Mobility Agreement (TILMA), aimed at removing trade barriers between the two provinces.

The amendments include improved coverage, better access to insurance contract information, and improved dispute resolution mechanisms, the B.C. government said in a news release, quoted by The Vancouver Sun.

You can read the whole article here.