Life Insurance and Swine Flu: Minimizing Your Risk

As highlighted in our recent article Swine Flu and Life Insurance, the Canadian life insurance industry is continuing to monitor how the H1N1 Virus is influencing mortality risk. Most companies have added underwriting guidelines for dealing with the global epidemic and these are discussed in our previous article.

Swine Flu by U.S. National Institute for Allergy and Infectious Diseases

But how can you reduce your risk for catching the virus, so that Swine Flu never becomes part of your profile for the life insurance company considering your application? Dr. Oz has the answer.

The following are his tips for taking the fight to the H1N1 epidemic:

1. Wash your hands frequently.

2. Make sure you resist all temptation to touch your face, except when you're bathing and eating.

3. Gargle twice a day with warm salt water. H1N1 takes 2-3 days after the initial infection in the throat/nasal cavity to proliferate and show characteristic symptoms, basic gargling prevents proliferation.

4. Clean your nostrils at least once a day with warm salt water. Not everybody has a Neti Pot, but blowing your nose softly once a day and swabbing both nostrils with cotton balls dipped in warm salt water is very effective in bringing down a viral population.

5. Boost your natural immunity with foods that are rich in vitamin C like citrus fruits. If you have to supplement with vitamin C tablets, make sure that they also have zinc to boost absorption.

6. Drink warm liquids like tea or coffee frequently. Drinking warm liquids has the same effect as gargling but in the reverse direction. The liquids wash off proliferating viruses from the throat and bring them into the stomach where they cannot survive, proliferate, or do any harm.  

Group Insurance in Canada: Are You Paying Too Much?

Your employees will be happier
if group insurance costs are kept down
photo by Simon Law

Thanks to increasing pressures on the current healthcare system, the consolidation of the Canadian insurance industry and a growing demand from employees for increased and expanded coverage, group health plans across Canada have risen by 15%, while dental plans have risen by 7%, according to exit planning strategist Peter Merrick. However, there are several things employers can do to keep their costs down. In light of this, you can utilize the following five strategies to help keep your premiums affordable:

(Group Insurance in Canada: Are You Paying Too Much? continued...)

Manulife Living Care Underwriting Made Easy

The following is a snapshot of Manulife's underwriting requirements on their Long-term Care plan called Living Care. They do have the right to alter those requirements depending on the insured's health history.

Age 70

• Living Care application

• Telephone interview

Age 71 or older

• Living Care application

• Face-to-face interview

• The insured's doctor will also be contacted to verify additional medical information.

As a rule of thumb, Manulife does not require lab tests as part of their long-term care application process.

You can get additional information on Manulife's Long-term Care plans, along with other long-term care providers by contacting us at 1-866-899-4849.

BMO Insurance’s Critical Illness Insurance Plan: Life Recovery Plus

BMO Insurance's Life Recovery Plus is a Critical Illness plan marketed directly to consumers.The plan is available in either a basic plan, which pays up to $25,000 in insurance benefits, or an enhanced plan, which pays up to $50,000 in insurance benefits upon diagnosis of life threatening cancers, stroke or heart attack.

The payout is broken down into the following four components:

1. Diagnosis Benefit Paid immediately upon diagnosis of a covered illness. (Enhanced Plan $12,000, Basic Plan $6,000)

2. Monthly Income Benefit Paid to the insured over 12 months (Enhanced Plan $1,000, Basic Plan $500)

3. Hospital Cash Benefit Paid to the insured for every day in the hospital within two days of diagnosis. (Enhanced Plan $200/day up to 100 days, Basic Plan  $100/day up to 100 days.)

4. Surgery Benefit Paid to the insured if surgery is required for a covered illness within two days of diagnosis. (Enhanced Plan $6000, Basic Plan $3,000) 

Advantages of the Plan

There are no medical tests and no health questions.

Disadvantages

There are several exclusions under the policy,the most notable being if the insured, prior to the effective date the policy, is diagnosed with a critical illness, no benefit will be payable.

Traditional Critical Illness pays out a lump sum, tax-free benefit, which the insured is free to spend how he or she wishes and this is generally more desirable than having the benefit paid in bits and pieces, dependent on a variety of requirements.

The premium for a 55-year-old, male non-smoker is $133/month. This does not stack up favourably with competing critical illness plans, which cover additional illnesses. BMO's traditional Term 10 Critical Illness would only be $89.01/month and Manulife's would be $97.79/month. Both plans offer far superior coverage. You can get a comparison for yourself by visiting our free, Critical Illness Instant Quote Page or by calling our office at 1-866-899-4849.

Health Insurance Without a Medical from the Canadian Freelancer Union

For the first time ever, thanks to its status as a division of the Communication Energy and Paperworkers Union, (Local 2040) the Canadian Freelance Union for independent media workers is offering a series of medical insurance plans.

Underwritten by ABC Insurance Services Ltd. and GreenShield Canada, the first of these is a guaranteed issue plan featuring no medical questions, and like all plans offered, covers pre-existing conditions. It's called Value: Guaranteed issue and its features can be found below:

• Only perscription drugs to age 79, unless specified by a physician, and no lifestyle drugs. (80% coverage to a maximum of $600)

• Vision Care ($125 every four months)

• Professional Services (Chiropractor, psychologist, speech therapist etc.) paid from the first dollar to a $300 maximum.

• Medical Transport (air and land included)

• Hearing Aid Replacement and Repairs ($300 maximum every four years)

• Private Duty Nursing ($1,000/year)

• Medical Items ($750 maximum/year)

• Accidental Dental ($2,500 maximum/year)

Advantages:

1. No medical questions or tests

2. Pre-existing conditions are covered

Disadvantages

1. The expense maximums are very low. It's very easy to use up $600 a year for example on prescription drugs.

Our free Health Insurance Quote Page aggregates the best health insurance policies from across Canada and can find the right plan for you. There's always someone available at our office, so call us now at 1-866-899-4849 and we will be happy to answer all of your questions about this and other plans.

Manulife’s Long-term Care Plan LivingCare

  Photo by Benson Kua

Manulife's Long-term Care plan, called LivingCare, is unique to the industry in that it is available on a single-life basis or a shared coverage option. Additionally, rather than having a set weekly or monthly benefit, Manulife allows the insured to choose a maximum benefit of up to $1,000,000 for single-life coverage or $2,000,000 for shared coverage between couples. The insured then chooses a benefit amount for single-life between 0.5% and 2% and for couples, between 0.25% and 1%. The amount is paid out for as long as the insured is on claim and it's to the point where it doesn't exceed the coverage amount. Waiting periods (how long until the funds are paid out) of 90 days and 180 days are available. Premiums can be payable for the insured's lifetime, or there is also a quick-pay option.

Some other features of the policy include the following:

1. Issue limits are between ages 18-80

2. Policy fees are $75/year

3. Premium payment durations are either pay for 15 years or pay to 65 (ages 80-50 only, and not available with shared coverage) pay to age 100. 

The advantages of the policy include the following:

1. Their unique shared coverage option.

2. The plan is not receipt-based and the insured, while on claim, is free to use the funds however they wish.

The disadvantages of the policy include the following:

1. The premiums are not guaranteed beyond the fifth year. However, Manulife does not have the right to change premiums after the latter of 20 years, or when the insured turns 75.

2. The miminum elimination period is 90 days. Most companies have shorter elimination period options.

Below is an example of pricing for a 60-year-old, female non-smoker:

$150,000 of coverage with a benefit option of 2%, i.e. a payout of $3,000/month while on a  claim and an elimination period of 90 days. The monthly premium is $222.31/month.

You can get additional quotes and details by visting our Long-term Care Instant Quote Page, or contact us at 1-866-899-4849.

Random Facts About Long-term Care Insurance Everyone Needs to Know

Before you buy Long-term Care,
there are some things you should know.
image courtesy Ian Mackenzie

There are certain things all potential applicants should know before buying Long-term Care Insurance. It's our hope that the following facts will arm you with the valuable information you need to make the right decision for you and your family:

1. The first individual Long-term Care policies were sold in the U.S. in the early 80s, according to the U.S. Dept. of Labor, with Canada following suit in the early 90s.

2. Only a handful of insurance companies offer Long-term Care Insurance in Canada and the plan features are not standardized. Therefore, it's a difficult product for brokers to deal with and not many do. Your best bet is to work with a broker who specializes in Long-term Care insurance.

3. Long-term Care plans generally offer a daily or weekly benefit when the insured can no longer perform two or more of the following six basic activities of daily living: Bathing, Dressing, Toileting, Transferring, continence and eating, or is diagnosed with a cognitive impairment, such as Alzheimer's Disease. Penncorp is the only company in Canada that only requires the insured to no longer perform one of the basic living activities.

4. Most Long-term Care policies in Canada have a five-year premium guarantee, after which time premiums can be adjusted on a class-wide basis. RBC Insurance is one of the companies to have a maximum premium after the fifth year.

5. Long-term Care plans usually pay on a receipt basis, i.e. they reimburse the insured for expenses incurred while requiring assistance. Desjardins is unique, in that it allows the insured to spend the proceeds however they wish. This can be of value if the insured wants a family member or someone other than a qualified healthcare professional looking after them.

6. Unlike life insurance, most Long-term Care plans do not offer a discount to non-smokers, i.e. they price smokers and non-smokers at the same rate. Some carriers even price males and females at the same rate. The latter provides a good value for males, but a poor value for females. Given the average female lives longer and is more likely to be on claim for a longer period of time than a male.

You can get more details on Long-term Care Insurance, as well as a quote, by visiting our free, online Long-term Care Instant Quote Page, or by calling our office at 1-866-899-4849.

Life Insurance and Obesity

Obesity and its complications
don't have to prevent you
from getting life insurance.
image courtesy ThinkPanama

Much like the rest of the world, Obesity rates in Canada are steadily increasing. In 2004, the Canadian Community Health Survey reported that 23.1% of those 18 and older (an estimated 5.5 million adults) had a Body Mass Index of 30 or more, making them obese. Another 8.6 million, or 36.1% were overweight.

With so many more Canadians facing the reality of Obesity and the complications that go with it, such as high blood pressure, diabetes and coronary heart disease, this new reality can have a direct impact on their classification and their ability to get life insurance. The four classifications of traditional life insurance are as follows:

(Life Insurance and Obesity continued...)

What You Always Wanted to Know About Life Insurance (But Were Afraid to Ask)

There are facts about life insurance
you may want to know before you buy.
image courtesy Luciano Meirelles

The following are a series of life insurance facts, which you may find useful in your pursuit of the best possible life insurance policy:

1. The first Canadian life insurance policy was issued to Hugh C. Baker in 1847 by the company he founded -- Canada Life.

2. According to Kanetix.ca (an online insurance resource) the average individual life insurance policy bought in Canada is typically a $100,000 term. For couples, a $500,000 joint term policy suffices.  

3. Assuris will cover the greater of 85% or $200,000 in the event your life insurance company goes bankrupt.

4. The following three Canadian life insurance companies have gone bankrupt: Les Cooperants on Jan. 3, 1992, Sovereign Life on Jan. 18, 1993 and Confederation Life on Aug. 11, 1994.

5. Premiums and product features can vary widely and dramatically among insurance companies, so shop wisely. We can save you time and money with our Instant Quote Calculators.

6. There is no central database for life insurance policies in North America, so keep close tabs on your own policy and share these details with your family.

7. All life insurance policies in Canada have a two-year incontestability and suicide provision. Make sure you pay close attention when answering your application information, or your family may be left with an unpaid claim. 

Desjardins Disability: Solo Living Expense Plan

Solo Living Expense is a niche plan within Desjardins' Solo Disability product portfolio.

The policy is geared towards homemakers, part-time workers or people in occupations that would have a hard time getting traditional disability coverage. The maximum monthly indemnity on the policy is $1,500/month and it's available with a 30-day elimination period and a 12-month benefit period. However, there is not a critical illness or life insurance component on this policy.

You can get a Solo Living Expense Quote, as well as quotes from other carriers besides Desjardins at our Disability Instant Quote Page or feel free to contact us at 1-866-899-4849.

Banks prohibited to sell insurance online

photo by Benson Kua

Canadian banks are shocked about the new initiative from the finance minister Jim Flaherty. He wants to amend the Bank Act, which prohibits banks from selling insurance at their branches and also through their websites.

Bank representatives are shocked, stating that Flaherty prepared this serious amendment without any consultation with the banking industry. Virtually all banks in the country are targeting the lucrative insurance market to offset their fallen revenues from traditional banking products and had started to offer insurance products on their websites.

We have expressed our negative opinions about selling insurance online in one of our recent articles. The Government's initiative is based on a different reasons. However, it will surely help thousands of insurance brokers and advisors across the country. Insurance products are complicated and should be treated as such. As the points of sale (websites) have become more and more simplified, the quality of the services offered has declined. Well tailored insurance policies require the help of experienced advisors and these cannot be found on impersonal bank websites.

On the other hand, banks are becoming more and more interconnected with the insurance industry through other channels such as mergers and acquisitions. If a bank really wants a share of the insurance market, it can do so through these channels. In that case, the government's initiative becomes just a useless political exercise. The Government should probably focus more on maintaining or even raising the quality of services in the insurance market.

Seniors Life Insurance: Six Factors to Consider

There is a plethora of
insurance options out there for seniors.

The Canadian marketplace has changed dramatically for seniors looking for life insurance. Premiums have gone down in most instances, but at the same time, insurance companies are looking more closely at certain risk factors such as lifestyle and travel.

The following are six factors to look into when considering life insurance as a senior:

(Seniors Life Insurance: Six Factors to Consider continued...)

LifeInsurance.ca: Five Reasons Not to Buy Your Life Insurance Policy Online

Sitting down with a broker
is much better than buying online.

LifeInsurance.ca 101: A basic grounding in the realities of buying insurance or any other financial product online!

With the title above, it may seem like we're shooting ourselves in the foot as a life insurance brokerage that specializes in the online marketing of life and health insurance. We have thousands of people visit our website daily, and many visitors constantly approach us about whether they can buy an insurance policy directly through our website. While we have tinkered with and marinated on this idea, we feel buying life insurance online is a disservice to our customers.

Some Canadian life insurance sites like "lifeinsurance.ca" aren't even real businesses, but belong to domain speculators. They just send you to whoever is advertising that week.

The following explains our reasoning behind why buying a life insurance policy online just doesn't make sense:

1. Life insurance, when bought directly via a website, is looked at on a singular level and not as part of an overall financial plan. When reviewing life insurance, careful planning should be put into determining why the insurance is needed, how much is needed and what is the best type of life insurance for a specific need. It is very difficult to do this, without speaking to a broker over the phone or in person.

2. Life insurance bought directly from a website is limited in its product offering. Most companies selling life insurance online limit their portfolio to a few carriers and in some instances, just one carrier with only a few of their products.

3. Certain policy features may not be fully explained when a policy is bought online. Life insurance has many nuances and features that may not be fully disclosed online, e.g. some ten-year term policies are not renewable or convertible, or may carry a higher than normal renewable premium.

4. Many insurance policies are just too complicated to be sold online. Universal Life and Whole Life insurance policies have far too many features to be sold directly online. BMO's Universal Life policy has over 400 investment options. The plan is too detailed to be sold online.

5. Any further contact would likely be with a call centre and not a broker, which is another downside.   

Do not get us wrong, we are not suggesting that the internet is not a valuable resource when purchasing life insurance. The internet is a fantastic education forum when purchasing life insurance. Our Instant Quote Calculator, Needs Analysis Calculator and our new Life Insurance Internal Rate of Return Calculator are all fantastic tools. We also have a myriad of blog articles on different life insurance topics.

But check the reputation and content of a business before you begin a relationship. You don't want to end up on a lifeinsurance.ca.

You can contact us anytime at 1-866-899-4849, if you have any life or health insurance questions, or if you'd like to be connected with a local broker in your area.

Funny Insurance Commercials 3

The first six humorous TV spots with insurance as the main point comes to an end with the last two videos. This time the entertainment comes from the USA and the Netherlands.

Nationwide

Nationwide Mutual Insurance Company groups together a number of insurance companies that deal with everything from life to fire insurance. Anything can happen to you - and that's exactly what their advert is about.

Centraal Baheer

Another participant from the Netherlands in our mini-series gives us this somewhat exotic commercial. This one is part of their campaign of short, witty commercials, which has run for about 15 years, showing people in pretty unpleasant situations. One of the funniest ever is related to - acupuncture treatment. What should you do when one choice is obviously worse than the other? Let's call Apeldoorn! ("Even Apeldoorn bellen" in Dutch - Apeldoorn is the company's hometown.)

Desjardins’ Enhanced Term 10 Policy

Desjardins' Enhanced Term 10 policy is an innovative life insurance policy with a unique critical illness component.

The premiums are fixed for the first 10 policy years and the plan is guaranteed renewable. The critical illness feature is a unique part of the policy, in that the policy pays out immediately upon diagnosis. Most other critical illness policies have a 30-day waiting period, but since the critical illness benefit is paid out as an advance on the life insurance policy, no waiting period is required. Be aware that there are two exceptions -- there is a 90-day exclusion for cancer or beign brain tumours.

Applicants must indicate what portion of the total policy amount (any percentage between 25% and 100%) is to be "advanced" in the event of a critical illness. Once an advanced benefit is paid, the remainder of the policy is in effect as a life insurance benefit. If 100% of the policy face amount is designated as the critical illness benefit, then the policy will terminate upon the payout of the benefit amount.

Enhanced Term 10 with a Critical Illness Advance can be a great addition to an existing life, disability, or critical illness insurance portfolio.

You can get an instant Desjardins quote, as well as quotes from Canada's other leading insurance carriers at the following link:  http://lsminsurance.ca/quotes/term-life-canada, or contact our office at 1-866-899-4849.

Penncorp Life: One Step Long-term Care

Penncorp Life Insurance specializes in disability insurance for self-employed individuals and small business owners. On Nov. 14, 2008, the company announced the launch of their Long-term Care plan, called One Step Long-Term Care.

Other Long-Term Care plans in the Canadian marketplace require that the insured is unable to perform at least two basic activities of daily living. (washing, dressing, feeding, transferring, toileting and continence) With the One Step Long-term Care Plan only one incapacity, including cognitive impairment, allows the insured to take advantage of the best possible coverage. Given the aging population and a public health system increasingly under pressure, Canadians are becoming increasingly concerned about the issue of Long-term Care. 40% of those who are already receiving Long-term Care are not yet age 65 and after age 65, close to 50% of all Canadians will need this type of care.

Features of the Penncorp Plan include:

• The plan can be issued to applicants aged 30 to 70.

• Benefit amounts can range from a minimum of $20.00/day to a maximum of $50.00/day.

• Benefit periods are 80% of th maximum benefit for the first 720 days. At the end of the 720 day period the insured receives 100% of the daily maximum benefit for an additional 1,080 days (for a total of 1,800 days) after confinement begins.

Advantages of the policy include the following:

• As emphasizd above, the insured can qualify for the benefit if s/he requires assistance for only one of the six basic functions for daily living.

• There are no policy fees associated with the plan.

Disadvantages of the policy include the policy:

• The maximum daily benefit for the plan of $50.00 a day, or $1500/month is quite low when compared against other plans on the market. By comparison, RBC Insurance, the leading Long-term Care provider in Canada offers maximum benefits as high as $300/day ($9,000/month).

• There's also no premium guarantee on the policy premium. Most companies offer a premium guarantee for at least the first five policy years.

The following is a quote for a 60-year-old female non-smoker

Benefit amount: $50.00/day or $1,500/month

Elimination Period: No days for facility care and 90 for home care

Benefit Period: 80% for the first 720 days and 100% for the next 1080 days

Annual Premium: $1,089.15

You can get more details on Long-term Care insurance by contacting our office at 1-866-899-4849, or visit our free, Long-term Care Instant Quote Page.

A Competitive Review of Engineer Canada’s Term Life Insurance Program

Engineer Canada offers a sponsored term life insurance plan that is underwritten by Manulife.

On the surface, it seems like a very easy and cost effective way for members to receive affordable term insurance coverage, but when compared to indvidual term life policies, the rates may not be as attractive as they may seem at first. The Engineer Canada plan offers coverage up to $15,000,000. Members receive discounts of 5% on face amounts in excess of $500,000 and a 10% discount on face amounts of $1 million or more.

A 52-year-old, male non-smoker applying for $500,000 of Term 10 coverage with Engineer Canada's program will pay $117.04/month.

However, even with the discounts, the premiums don't stack up against other leading life insurance carriers in Canada. A 52-year-old, male non-smoker applying for $500,000 of Term 10 coverage with Engineer Canada's program will pay $117.04/month. The premiums are based on five-year age bands, which means they go up in five-year increments.

When compared to the other insurance companies in Canada, their rates are significantly higher. An RBC Insurance Ten-year Term Policy (fixed for twice as long as the five-year term) is $101.25/month. Canada Life's Term 10 policy is $101.70/month and BMO Insurance's Term 10 policy is $102.60/month.

Individuals in very good health, and with an excellent family health history, can qualify for perferred rates, which would lower the RBC Insurance plan to $69.44/month. Perferred rates are not available through the Engineer Canada Plan.

The Engineer Canada Policy does offer a unique continuation benefit, which, in the example of the 52-year-old male, he would pay an additional $17.80/month. The continuation option provides 10% paid-up coverage to applicants insured at age 85. In the example of the 52-year-old, he would have $50,000 of paid-up coverage at age 85. On its face, it seems like a great deal, but it assumes that the insured keeps the coverage up to age 85. This is unlikely, given that the premiums on the Engineer Canada Plan will skyrocket in the later policy years.

You can compare for yourself and get a free, online quote at our Term Life Instant Quote Page or contact us at 1-866-899-4849.

RBC Insurance Long-term Care Insurance: A Closer Look

RBC Insurance is a leading provider of Long-term Care insurance in Canada. The plan that puts them ahead of the competition is divided into two components. The first is facility care, available to applicants from 30 to 80-years-old, and the second is home care, for applicants from 30 to 75-years-old.

The benefit amounts are paid on a daily basis and are available with minimum benefit amounts of $10/day and maximum benefit amounts of $300/day. The plan pays out if the insured is unable to perform two or more of the following six activities for daily living: bathing, transferring, toileting, eating and maintaining continence.

Pros

1. RBC Insurance is the only carrier in the market to offer a premium guarantee after five years and there is a lifetime cap of a 50% increase on the original premium amount.

2. Policies are paid up after 20 years, or once the insured turns 65, whatever is the longer of the two periods.

Cons

1. The plan is a receipt-based plan, so the insured is not free to spend the benefit money any way s/he wishes and can only be reimbursed with receipts.

2. The premiums are priced the same for males and females, which means males are paying a higher premium than they should and females are paying a lower premium than they normally would. All things being equal, on account of females living longer than males, women are more likely to file a Long-term Care claim.

The following is an example of pricing for a 60-year-old female, non-smoker:

$100/day benefit or $3,000/month of facility and home care coverage with a 90-day elimination period and a 5-year benefit.

Cost: $203.37/month

You can get additional quotes by visiting our Long-term Care Instant Quote Page or contacting us at 1-866-899-4849.

O.M.A. Long-term Care Insurance

O.M.A.'s Long-term Care plan is there
if doctors require assistance due to illness or injury.

Ontario Medical Association [O.M.A.] offers a long-term Care insurance policy to members and their family members between ages 21 to 80. The plan is underwritten by Sun Life Financial and the pricing is identical to the Long-term Care plans available to Sun Life's broker network.

O.M.A. Long-term Care insurance provides a benefit if the insured requires assistance in two of the following six basic living needs:

• Bathing

• Dressing

• Eating

• Toileting

• Continence

• Transfering [e.g. from a bed to a chair]

You may also qualify if you are in need of constant supervision due to a deteriorated cognitive ability.

The weekly benefit on the plan can range from $150 to $2,000/week. The insured can also choose their elimination and benefit period. The O.M.A. Long-term Care plan benefit works just like income , it can be used for any purpose. The insured can use the money to hire assistants in the home, or use it to compensate friends or family members that may already be caring for them.

The other leading Long-term Care providers in Canada include, Desjardins, RBC Insurance, Blue Cross, Manulife and Penncorp insurance and you can get a quote aggregated from all of them on our Long-term Care Instant Quote Page, or by calling us at 1-866-899-4849.

Desjardins Solo: A Unique Disability Insurance Program

Desjardins' disability insurance program is branded Solo, but, despite its name, it insures you will not be going it alone should you gain a disability due to illness or injury. Solo's unique features help separate it from other disability insurance plans available on the market.

One major distinction between Solo and its competitors is it has built in a life insurance and critical illness insurance feature. In the event that the insured passes away or, develops a critical illness, they receive five-times their monthly disability benefit as either a life insurance, or critical illness insurance payout.

The plan is based on a level cost up to age 65, but the premiums are not guaranteed. They can be adjusted or the coverage can be cancelled on a class wide basis. The plan can also be renewed beyond age 65, but goes up on an annual basis to age 75. There is also a full return of premium rider that can be added on, if a claim is not made.

You can get a Solo Disability Quote and other disability insurance quotes from carriers across Canada at our free, Disability Insurance Instant Quote page, or by calling 1-866-899-4849. 

Funny Insurance Commercials 2

As promised, we continue our funny insurance commercials mini-series with another two episodes, this time with insurers from the Netherlands and South Africa.

Delta Lloyd

This spot from less known Dutch insurance company (part of the Delta Lloyd Group, owned by Aviva) shows how much confidence you can gain with a proper life insurance policy in your pocket.

1st for Women

Some seven years ago people in the South African Telesure Investment Holdings realized that women are much safer drivers than men and tailored a whole new range of product for them under the 1st for Women brand. They also released this spot for men to understand why they are not as great drivers as they may believe.

A Closer Look: Term 30 Life Insurance

Have your broker look over
which Term 30 policy is right for you.

Unity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company.

Term life insurance provides a level, tax-free death benefit with premiums fixed for a stated term. Traditionally, most term policies are either five, ten or 20 years, but recently, as Canadians have begun to increase their debt load and the amortization period of their mortgages, Term 30 policies are on the rise. On the surface, the coverage is straight forward, but rates can vary substantially between carriers. The following chart looks at the main features and pricing from five of the top Term 30 life insurance carriers in Canada:

BMO Insurance

Coverage is renewable to age 100

Convertible to age 70

Preferred rates are available

Industrial Alliance

Coverage is renewable to age 100

Convertible to age 65

Preferred rates are available

*Industrial Alliance offers a "Pick-A-Term" Policy, which allows you to pick terms between 10 and 40 years.

La Capitale

Coverage is renewable to age 85

Convertible to 65

Decreasing Term 30 option is available at lower rates and a 35 year plan is available

Unity Life 

Coverage is renewable to age 85

Convertible to age 65

Preferred rates are available

Transamerica

Coverage is renewable to age 100

Convertible to age 71

Preferred rates are available

*Transamerica's Term 30 has a unique paid-up feature. The policy has paid-up insurance values and cash values after 20 years.

Primerica

Coverage is renewable to age 95, but turns into an annual renewable term after the first 30 policy years.

Coverage is not convertible, as Primerica does not offer a permanent life insurance policy.

Preferred rates are available.

The following is the Term 30 pricing for a 40-year-old, female non-smoker at $500,000 of coverage at standard rates for the above insurance carriers:

Unity Life               $76.95/month

Industrial Alliance   $83.25/month

BMO Insurance      $83.70/month

La Capitale            $83.75/month

Transamerica          $87.30/month

Primerica                  $108.30/month

If you have any questions, please don't hesitate to call us at 1-866-899-4849, or you can get an instant Term 30 quote here. The best Term 30 insurance rates in Canada.