I am a lawyer - sole practitioner - I need long term disability but but was told I was uninsurable because of all my medical conditions. Is there anyone who will give me long term disability?

Thanks for the note. There are some speciality carriers you may want to consider. There are also No Medical Injury Only Long Term Disability polices. You can email us at or visit our disability insurance quote page http://lsminsurance.ca/application/ontario/disability.html

My spouse and I are considering taking the cash value (17,500) from our policies after 19 years and paying off some debt.We can then purchase cheaper term insurance.I`ve read that if the cash value is equal to or less than premiums paid then its tax free,true?

The tax will be based on the adjusted cost base if the cash value is less than the adjusted cost base there will be no tax implications. You can get the Adjusted Cost base from the insurance company. You should definitely get approved for your term policy first before canceling your existing plan also keep in mind that term policies go up as you get older where as your existing policy may not increase on cost. There may also be other riders or provisions in the plan.

What are the common illness or medical condition a person can be declined with such regular life insurance application?

Some of the illnesses include a recent diagnosis of cancer, stroke, heart attack, uncontrolled diabities, high blood pressure or cholestrol. Insurance companies like to see illnesses are stable. Applicants with serious health issues may want to investigate Simplified Issue plans. These plans have a shorter series of health questions than traditional life insurance plan. Once the insured is declined for an application his/her options will become more limited.