Life Insurance

Life Insurance – in the event the insured dies the policy pays out a tax free amount to the beneficiary. There are three types:

  1. Term Insurance – Insurance coverage for a stated term. This a great way to cover temporary insurance needs

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  2. Whole Life – provides permanent coverage with a guaranteed death benefit and level premiums. Plan gains value over time and is subject to investment gains and loses

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  3. Universal Life – provides permanent insurance with an optional tax sheltered investment component. Death Benefit can be level or increasing making this an excellent option for estate preservation and maximization

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If you need more information on the above policies, check out our insurance tips:

  1. Life Insurance for Children
    LSM insurance providing insurance advice and solutions for your children.

  2. Life Insurance - What The Experts Own
    What kind of products are actually used by the leaders in the world of finance and insurance business? We've asked them 5 questions to find out.

  3. Inspiring Life Insurance Stories
    The most inspiring insurance stories to ever grace the desks at LSM Insurance.

  4. General Life Insurance Tips
    General life insurance tips including a crucial article on making sure your family gets paid by the insurance company.

  5. NO MEDICAL LIFE INSURANCE QUOTE AND EXPERT TIPS
    Looking for cheap no medical life insurance? LSM Insurance offers quotes from 20+ insurers across Canada for people with various health pre-conditions.

  6. Whole Life Insurance Tips
    Adventages and disadvantages of Whole Life Insurance. Check out what Lorne S. Marr has to say about this kind of insurance policy.

  7. Life Insurance for Women - Two Steps to Right Insurance
    LSM insurance providing insurance advice and solutions for women.

  8. Term Life Insurance Tips
    Tips about term life insurance tips, including how to avoid getting ripped off when buying term insurance.

  9. Universal Life Insurance Tips
    How to turn the flexibility in Universal Life policies to your advantage.

  10. Group Insurance Tips
    Advantages of group insurance, including employee retention and lower premiums. Does Group Insurance make sense for your company?

  11. Critical Illness and Disability Insurance Tips
    Canadians are more likely to experience critical illness than to die before age 75. So get the right insurance now while you're healthy.

  12. Life Insurance Medical Tips
    What kind of life insurance to buy if you are in shape and what kind of coverage to seek if you're not.

  13. Mortgage Insurance Tips
    Mortage insurance versus life insurance: why mortgage insurance is almost always a much worse deal.

  14. Investment Tips
    Tax saving and investment tips. How you can buy your insurance almost tax free in many cases.

  15. Find Out What Your Provincial Health Plan Covers
    Find out what your provincial health plan covers - our resources cover the overview of all the provincial health care plans.

  16. Disability Insurance – What The Experts Own
    We decided to dig a little deeper and went back to the well by asking our experts, "What kind of Disability Insurance Do They Own?"

  17. Life Insurance Questions - We've Got The Answers
    The most common questions about life insurance, answered by industry experts.

life insurance testimonials
I am very pleased with the plan LSM Insurance set up for me. It’s easy to see why they have become so successful. (1 of 86)
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Urmela
Urmela

Hi,

My husband and I took out a life insurance with your company Primerica. We were told that in the end we have a cash value. The customer service rep told me none of these policy has a cash value. Not sure if he was in a hurry to go home that is why he give me a quick answer. I am hoping you can shed some light on this I have this policy since 2003.

thanks
urmela

harriet
harriet

Thank You….

harriet
harriet

my father left me as beneficary of his Group Life Insurnce. does the Will prevent me from receiving my benifits? It was not menstioned in the Will as far as I know, it was not read to me or I do not have a copy. should I request a copy of the Will?

Debrah Sauve
Debrah Sauve

My husband and I are legally separated for over 4 years. I was always under the belief that I owned my life insurance policy. According to my legal separation my husband was to no longer have any legal entitlement to any benefits. When I tried to get information I was told that the policy was in his name – I want my daughters to be beneficiaries. What do we have to do to get this straighten out. We have a cordial friendship and he would agree to whatever he has to do — we just need to know what that… Read more »

billie
billie

I have a Term 100 (with Values) – 20 year payable I purchased in march of 1999. There are Cash Value and Cash Loans. The Cash loan states once it has been inforce for 10 complete years. Now I am trying to figure out my Cash Loan. Its states…You can obtain a loan from us whenever the policy has a loan value. Now in the table of Cash Value, it states Policy year, and starts Year 11. I guess my question is… Am I in the 11th year, and this is how it goes. Also do you no how repayments… Read more »

Danny
Danny

Hi, I have life ins. with transamerica on the statement indicated ” Your Advantage Life Plus ”
I’m wondering what catergory this policy will be
Term Life Insurance, whole Life Insurance or Universal Life insurance?

Danny

Andrew Kiriaka
Andrew Kiriaka

Hi Lorne,

just wondering about the process of cancelling the life insurance policy I currently have. Actually, it expires today, and I just received notice of that because of the fact that I moved and they just found me. What happens to my investment if I cancel with the policyholder? Thank you for any help you can give me!

Linda King
Linda King

Can you tell me when Westbury Canadian Life was bought by RBC or has it always been under the RBC umbrella. Is Copoloff Insurance Agency or Canadian General Life also under the RBC umbrella. Thank you.

Isaac
Isaac

Hi Lorne,

I am 28 male currently working and living in Banff, Alberta with my common-law partner. I am totally new to the life insurance and I wonder if you can explain to me:

1) How does the life insurance benefit me,
2) I am familiar with the RRSP investment. Is the life insurance investment withdrawable?
3) If so, when and under what kind of circumstance I will be able to withdraw from the life insurance?

Thank you,

Isaac

Angie
Angie

Hi Lorne,

I have an Empire Life Insurance – ULI trilogy with my husband for 1,000,000.00. We pay monthly premiums of $320.00. Do you think this is an good policy as the premiums seems high.

However, we do not have to take anymore medical test once the policy is set-up.

We also looking to set-up an ULI policy with cash surrender value at age 18 for our new born for education purposes, so she has funds avaliable for university…is this the best option? What policy and insurer would you reccommend?

Thank-you in advance
Angie

scott
scott

hi , i am wondering if i am able to purchase a life insurance policy for my mother, insuring a proper burial and all that really expensive stuff that goes with the funeral homes.
is it possible to insure from a third person as myself on my mother “god forbid” death.
she is near 68 and a smoker with the possiblity of parkinsons recently discovered.
thank you
scotty

naomie lyons
naomie lyons

hi i just moved due to the storm (gustuave). i am in a financial bind. i can’t afford to pay my insurance and my daughter’s. my husband is not working now due to him having to move me up to a new location. when it came time for him to go back to work (offshore) they put someone else on the crew. he hasn’t worked in 3 weeks. i don’t have the money to keep up the ins. and it is automatically deducted out of my account. do you have any suggesstions? can i use my daughter’s ins. for collateral… Read more »

ALEJANDRO G. MARTINEZ & TONI C. MARTINEZ
ALEJANDRO G. MARTINEZ & TONI C. MARTINEZ

I need answers to questions on insurance I purchased several years ago and been paying auto deduct from bank. Please contact me

Bechara Yammine
Bechara Yammine

Hi, I saw in TV a advertisement about AIG’s Insurance they take a person without any questions or health questions and for 20 years or more maybe for life mean permanent, $ 25000 for $ 25 Dollar per month is that true??? and how can i get the agreement, or the more information, and if there is a office in Ottawa?????? thank you with advance.

Nabil Najem
Nabil Najem

I would like to have a copy of my policy #1A00172590 by email or mail.

thank you,
Nabil Najem
7 Rue D’alencon
Gatineau (Quebec)
J8T 4N5

Richard W. Flynn Jr.
Richard W. Flynn Jr.

I have been divorced and would like to cancel my policy. I would like someone to contact my ex-wife on her policy. If you have any questions, you can contact me by phone also at 812-486-9141