Life Insurance for Women:

News from 2012

Different types of women in need of life insurance

Life insurance is not just for men anymore. Gone are the days when all the information about life insurance was skewed towards men. Chantal Marr, President of LSM Insurance, is perfectly aware of the fact that more and more women are becoming financially independent. Their lives are often full of unique challenges such as raising children, managing their household, caring for elderly parents, or balancing a career and home life. Together with their financial obligations such as loans and ...
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Universal Life Insurance for Women

Universal life insurance rates for women differ from those of men because females tend to live much longer. According to Statistics Canada, women actually live 4.7 years longer than men, which is why universal life rates are less for females than they are for males. Universal Life policies separate the investment component from the insurance element of a Permanent life insurance policy. They have flexible premiums and can have a level or an increasing death benefit. (more…)
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Insurance Tips for Women

Over the past few decades, women have emerged as near-equals in the workforce but they still do not carry the amount of insurance as men. While in the past home-schooling, transporting children, cooking, house-keeping, and running household tasks were the only responsibilities for most women, nowadays the situation is a bit different. In many families, many women are now enjoying their own careers. They are often full-time employees or even business owners. Nobody is surprised to hear ...
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Life Insurance for Women Myths

According to statistics, a huge proportion of high-income women believe that life insurance is just an extra expense and that they don’t need it at all. Another part of the female population is convinced that it’s enough when their partner is covered. Others are simply put off by the complicated process of selecting the right insurance product. (more…)
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Guaranteed Issue Life Insurance for Women

Guaranteed issue life insurance policies have no medical test and no health questions. The premiums for guaranteed issue life insurance policies are lower for females. The rationale being that females live longer than males. After all, Statistics Canada reports that life expectancy at birth has reached just over 81 for women and just over 78 for men. For those over age 65, life expectancy has reached just over 83 for men and a little over 86 for women. The other type of no medical ...
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Mentally Ill Wife Killer Entitled to his Spouse’s Life Insurance Proceeds

In a stunning ruling by the Ontario Court of Appeal, a man who murdered his wife in 2006 was found to be entitled to her life insurance benefits, as originally reported by The Toronto Star. Two years after her death, Ved Dhingra was found not criminally responsible for the second-degree murder of his wife, Khamlesh Dhingra, after being diagnosed with schizoaffective disorder and possessing a history of hospitalization and suicide attempts. (more…)
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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…)
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Women and Life Insurance: Interesting Facts

It should be no surprise to anyone that women live an average of five years longer than men, but it may surprise people that only 40 per cent of women have ever breached the topic of life insurance with their partners. This is according to The Toronto Star's Moneyville Blog and a survey from TD Insurance. Thankfully, more women are at least buying life insurance today. According to a study conducted by Nielsen in 2010, women accounted for 10 to 15 policies out of every 100 sold — ...
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Joint First-to-Die Life Insurance

Joint first-to-die policies don't show the same savings as two individual life insurance policies. Joint first-to-die life insurance policies cover both individuals (almost exclusively spouses) under one policy, while individual life insurance policies create two individual plans for each insured. Some companies offer multi-life policies, which are essentially individual policies, but under one plan. Unlike joint first-to-die policies, multi-life policies stipulate that if one spouse ...
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BMO Insurances Easy Term 10 Plan for Men and Women

BMO Insurance offers a Easy Term 10 Life Insurance plan direct via their call centre. The plan uses age-nearest pricing, and the following are the rates at$50,000, $100,000, $150,000, and $200,000 for 40 and 50-year-old, male and female non-smokers: 40-year-old, female non-smoker $150,000 of Term 10 coverage is $ 8.37 a month. $100,000 of Term 10 coverage is $12.24 a month. $150,000 of Term 10 coverage is $16.11 a month. $200,000 of Term 10 coverage is $19.98 a ...
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