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News from 2014

Is Whole Life Insurance a Good Investment?

Arguably, the most debated issue among life insurance consumers is whether whole life insurance is a good investment or whether you should instead go with a term insurance plan.This is the "To Be, Or Not to Be?" of the life insurance industry, as life insurance experts and personal finance columnists come down on either side of the issue with equal vehemence. In an effort to bring clarity to the two opposing views and try to clear up the cluttered debate so that the layman can ...
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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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Brian So|Insurance Advisor, AAFS Insurance

Brian So Insurance Advisor, Brian So Insurance 1.What type of disability insurance do you own? I own an individual disability insurance policy with an regular occupation extender, residual disability, future insurability and cost of living riders. In case your readers are not aware, the regular occupation extender means that I will not be forced back to work after 24 months if I could work in any gainful occupation. Residual disability protects me from a partial loss of income, ...
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The Frugal Trader|Blogger, The Million Dollar Journey

The Frugal Trader Blogger, The Million Dollar Journey What type of disability insurance do you own? My wife and I have individual policies in own-occupation disability insurance. (more…)
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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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Life Insurance and Depression – Updated

Depression is a mental illness now being publicly addressed. Back in the day, people never talked about this mental illness. It was thought of as a shameful thing to discuss, and those who were going through depression were embarrassed to address it. By not addressing their depression, many fell victims to suicide, which could have been prevented by seeking help. The public is becoming more aware of depression — especially since famous people have unfortunately succumbed to this ...
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Sean Cooper | Pension Analyst and Financial Journalist

Sean Cooper Pension Analyst and Financial Journalist, 1. What Type of Disability Insurance do you own? My employer provides me with group disability coverage in the event that I’m injured or ill and unable to work for an extended time. The plan comprises two parts: short-term disability (STD), which pays a benefit for up to 6 months (this is the elimination period), and long-term disability (LTD), which begins to pay a benefit after 6 months. For any validated ...
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The Pros and Cons of Permanent Life Insurance

Permanent insurance is not an insurance product that can be taken lightly. It's a product that is only right for certain insurance needs and circumstances that could help or hurt you, depending on how it is used. The Globe and Mail publisheda piece on the "Pros of Permanent Insurance" and, while all of them are true, they're only telling half of the story. We've outlined the pros and cons of permanent insurance below, so that you have all the information and can truly select the right ...
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Top 5 Term Life Insurance Mistakes People Make

Sometimes it’s easy to make the following mistakes when you make a term life insurance purchase, or it could be that you didn’t do it right. Most clients are unfamiliar with life insurance and usually require the assistance of an agent to aid them in the process. In our previous article,Independent Agent vs. Captive Agent, we address the issue that agents and their clients must and should maintain a good relationship. (more…)
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