Life Insurance for Children:

News from 2012

a-child-with-coins

Children’s Life Insurance: Is It Worth It?

Life insurance for children: is it really worth it? The Globe and Mail wrote an interesting article exactly a year ago, in October 2011, asking "Does your child need life insurance?" "There are usually three main reasons to buy life insurance on a child," says Karl Simon, director of product and marketing for Equitable Life. "The first is to protect the family if the child dies. No one wants to think about their child dying, but the reality is, if the child dies it will affect the ...
Continue reading

BMO Insurance’s Four Online Life Insurance Solutions

BMO Insurance offers the following four policies directly to consumers through its website. These policies are not sold via their independent brokers, but BMO Insurance does offer a host of life insurance policies through independent brokers. 1. EasyTerm — Term Life Insurance:Available to Canadian applicants between 18 and 75, if the insured is between age 18 and 65, he or she can can get up to $249,999 in coverage without a medical examination. BMO also guarantees the renewal of the ...
Continue reading

Assumption Life Streamlines its Product Line-up

As of July 23, Assumption Life announced they will no longer carry Odyssey Universal Life, Whole Life and Whole Life Junior, T-10 term life insurance and Guaranteed Economic Life. The reason behind the decision has to do with the fact that all of their other products are integrated into their online application system and these ones are not. “We have come to realize that these products no longer fit our business model and have therefore decided to simply withdraw them from our ...
Continue reading

Six Ways to Save on Life Insurance in Canada

Life insurance premiums can be pretty expensive even though they're one of the most worthwhile investments you can make for the future of your family. Luckily, LSM is sharing the tricks of the trade, which will allow you to still protect your family without sending yourself to the poorhouse. The following are six ways you and your family can save thousands of dollars when buying a life insurance policy: (more…)
Continue reading
family

Eight Reasons To Choose Industrial Alliance

Industrial Alliance advantage: Child Life and Health Industrial Alliance has several unique products and features within its life and living benefit insurance lineup. The following are eight key benefits that help separate Industrial Alliance from its competitors: 1. Their Joint last-to-die policies offer an option in which the surviving insured can cash out the accumulation fund tax-free on the death of his or her first spouse. 2. Their Universal Life policy, with a yearly ...
Continue reading

Industrial Alliance’s Child Life and Critical Illness Policy

Industrial Alliance offers a child life and health dual policy, which provides insured people age 0 to 20 with a combination of life insurance and critical illness insurance coverage. Here's how it works: Assuming the insured takes a face amount of life insurance, say $200,000, half of that policy face amount is provided in the way of Critical Illness coverage. If the child were to develop a critical illness, this amount would then be deducted from the life insurance. The policy becomes ...
Continue reading

Faith Life Financial – Two Participating Whole Life Solutions

Faith Life Financial offers the following two participating whole life policies: 1. The Whole Life Life Pay plan 2. The Whole Life Life Pay paid-up at 65 Whole life insurance, payable for life, is available to non-smoking applicants age 18 to 75 and smokers up to age 75. (in an odd twist, children 18 and under are issued smoker rates, but can switch to non-smoker rates at age 18.) Death benefits can be as low as $10,000, and payments can be made on a monthly or annual basis. The ...
Continue reading