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News from 2010

Can You Get Life Insurance after Having a Stroke?

A stroke has a definite impact on the insurer's ability to obtain life insurance. Traditional life insurance policies may or may not be available depending on the severity of the stroke. Insurers will need specific information about the applicant' medical history including the type of stroke, the insured's age at the time of stroke and any permanent damage resulting from the stroke, such as impaired speech and any medications taken to treat it. Any history of pre-existing conditions ...
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Life Insurance for Bodybuilders

Bodybuilders need to keep certain issues in mind when applying for life insurance. Photo courtesy of The Flickr Commons Collection. Most insurance companies use body mass indicators similar to this one when underwriting life insurance applications. This can create a stumbling block for bodybuilders whose build and health levels can be very different from inactive individuals with a similar BMI. Bodybuilders also have to be careful when answering the questions under a traditional ...
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Qualifying for Life Insurance with HIV or AIDS

People with AIDS or HIV can still get insurance Most traditional life insurance companies will not offer life insurance to people with HIV or AIDS. What they don't tell you is, there is hope. Applicants with HIV or AIDS have three options for qualification: 1) Guaranteed Issue Life Insurance asks no health questions and has no medical tests. The premiums on these policies generally quote high and the face amounts are limited. 2) Simplified Issue Coverage also has no medical tests and ...
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Standard Life’s Ideal Term Plus

Standard Life's 10-year and 5 Year Ideal Term Fund Plus is currently among the most compeitively priced in the industry. The plan is fully redeemable, offers all the benefits of an insured investment, including the opportunity for a pension income split, as well as the potential to double the pension tax-credit, the potential for creditor protection and the opportunity to bypass probate. If that weren't enough, the plan offers the following additional features: Minimum ...
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Bank of Montreal’s Mortgage Life Insurance Policy

Mortgage Life Insurance is available from Bank of Montreal. 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. Bank of Montreal Mortgage Life Insurance is available directly through the insured's lender. The policies cover the outstanding mortgage balance at the time of death, up to a maximum of $600,000. A maximum of two people can be covered under the policy and the policies are underwritten ...
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Term 15 Life Insurance for Seniors

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 15 Life Insurance policies provide coverage, which is level for the first 15 policy years. Most plans are guaranteed convertible and renewable. However, seniors may have limitations on those conversion options, as most Term life policies only offer a conversion plan up to age 65. The following is a list of the top four carriers for ...
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Comparing BMO Mortgage, Life, and Disability Insurance Vs. Individual BMO Insurance Policies

Bank of Montreal offers a mortgage, life, and disability insurance policy, which is available through the insured's mortgage lender. The insured has the option of choosing mortgage life insurance or mortgage, life, and disability insurance coverage. Mortgage disability insurance cannot be purchased on its own. The premiums on the mortgage, life, and disability insurance policy are added to the insured's monthly mortgage payment. Individual life insurance policies purchased through BMO ...
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Manulife Financial’s Critical Illness Switch Program

Manulife Financial has a unique Critical Illness Switch Program, which allows the insured to convert from a Term 10 Critical Illness plan to a Term 20, Term 75 or Term 100 plan. There are no medical tests or questions involved with the conversion. Rates are based on the insured's current age, but the premiums are based on the original plan rate if the policy is still within the first five policy years of the initial policy issue date. (more…)
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Non-Medical Term Life Insurance Options In Canada

Canadian consumers looking for Non-medical Term life insurance in Canada should consider the following: As a rule of thumb, it's best to remember that the younger the insured, the more likely Term Life insurance is going to be available without medical tests. For older people looking for insurance, the face amounts available without medical tests are generally much lower. The following is a list of three companies which offer Non-medical Term Life insurance policies to Canadian men ...
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Universal Life Insurance For High Net-Worth Individuals

Manulife Financial recently introduced a Universal Life plan, which is geared towards high net worth individuals. The plan is called UltraVision. It's a Universal Life plan with a yearly renewable time cost of insurance structure. The plan has a minimum $25,000 a year annual deposit for the first three policy years. One of the key differences is the cost of insurance charge. Most traditional yearly renewable Term Universal Life plans charge an annual insurance fee based on the ...
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