Critical Illness:

News from 2014

The Financial Cost of Cancer and What You Can Do About It

It's not hard to guess that cancer is the leading cause of death in Canada, accounting for 30% of all deaths. It's probably no surprise to any of us that191,300 new cases of cancer and 76,600 deaths from cancer will occur in Canada in 2014. This includes 40,000 Canadian men and 36,600 women. If you break it down 524 Canadians will be diagnosed with cancer everyday and 210 die from it. It's an incredibly high cost on society -- losing good people -- and that's not counting the emotional ...
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Top 5 High Risk Diseases That Will Make it Difficult to Get Life Insurance

Looking for life insurance with a high risk disability or disease is a difficult task. Often, insurance companies will only offer expensive premiums and others will decline your application all together. There are many variables that are considered when determining to accept an application. Some factors include, age, weight and gender. Companies also rate the severity of the disease. If an illness is categorized as mild or moderate then companies will accept you. You may be able to ...
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Critical Illness Insurance: What Changes Should Insurers Make?

Critical illness insurance pays out a lump sum that you can use at your discretion if you are diagnosed with one illness on a list of critical illnesses, including cancer, stroke, and multiple sclerosis. But, in a recent article from the Financial Post, Mark Halpern of illnessPROTECTION.comreported that fewer than 25% of advisors have sold a living benefits policy (including critical illness) in Canada. So why hasn't critical illness insurance caught on in Canada? We asked some of ...
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What is Right About The Life Insurance Industry

The life insurance industry looks bright. The potential that a man first saw in an untapped colony is now a fundamental part of many Canadians' financial planning. Canadian life insurance, which promises security and stability, has evolved from its humble beginnings to become one of the biggest investors in the Canadian economy. Hugh C. Baker was the founder of Canada's first life insurance company, Canada Life Assurance Company, in 1846. Out of the desire to create stability for his ...
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Assumption Life’s New Critical Illness Plan

Assumption Life now offers critical illness coverage. Assumption Life is finally offering critical illness insurance through their new Critical Protection plan. The policy is simplified, so there are no medical exams and the coverage is guaranteed as long as you can answer no to 14 simple questions about your health and coverage history. Besides, even if the answer is no for one of the questions, this does not mean you won't qualify for coverage. Your application will simply be looked ...
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Assumption Life’s Vision for the Future

Assumption Life CEO Andre Vincent told the Insurance and Investment Journal the company's plans for the future.. Assumption Life took a huge risk in 2013, and it paid off in a big way. That year, they took universal life products out of their line-up entirely and decided that they would only offer insurance products that could be sold through their online platform. The plan worked better than anyone could've anticipated because Assumption Life was able to keep their entire ...
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Entrepreneur Nearly Loses Everything to Illness

Patricia Brooks is back in business thanks to a miracle drug. Patricia Brooks, 58, has worked for herself for over 25 years, which means no sick days, no employment insurance. Pat could've bought critical illness insurance in 2008 when her LSM Insurance broker offered to sell it to her, but thanks to a price she thought was too expensive, she decided against it and now, five years later, she has a critical illness of her own and almost lost everything she had worked for. “I was penny ...
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