Life Insurance Canada News:

News from 2008


Life and disability insurance is hot in workforce perks

A new study released recently found that Canadians continue to place a high value on financial protection. Some 61 % of Canadian organizations offer group term life insurance to their employees. An additional 42 % of organizations offer disability benefits to attract and retain skilled workers. Over 2,100 payroll professionals across the country participated in the research by completing an extensive online survey, compiled by the Canadian Payroll Association. The first of its kind in ...
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What happens if my life insurance company goes bankrupt?

Life insurance companies have been front page news the last week. American International Group (AIG) one of the world's largest life insurance companies has had three quarters of staggering housing-related loses and it has lost over 90% of its stock price. Many policyholders of AIG and other insurance companies are asking the questions how safe is my life insurance policy? It’s a reality of the 21st century that even the largest and most reputable insurance companies can become subject ...
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Do you have what it takes to be a Top Life Insurance Broker?

Find out in a 2-hour presentation given by five time number one Canadian life insurance broker Lorne S. Marr on Wednesday, October 8th in Toronto. Lorne’s seminar will only be offered once this fall. Capacity is limited to the first twenty registrants, so register today and don’t miss the once in a lifetime chance to get the inside scoop on how to make six figures and more in the life insurance business for free. Passion, empathy, ambitious, organization and good listening skills are ...
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AIG is now BMO:LSM Insurance quoted in the Toronto Sun on AIG

Following the potential bankruptcy rumours swirling aroundAIG, LSM Insurance was interviewed by the Toronto Sun. We were talking about Assuris, a "safety net" for the insured. Here is a short excerpt form of the article: "Brokers from LSM Insurance in Markham have been flooded by e-mails and phone calls from clients. What they point out is that the insurance industry has a safety net, called Assuris, which is similar to the Canada Deposit Insurance Corp. (CDIC) that guarantees ...
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AIG is now BMO:Five reasons to stick with AIG Life

American International Group (AIG) has been front page news the last few days. The company has had three quarters of staggering housing-related loses and it has lost 90% of its stock price. The questions many AIG Life of Canada policyholders are asking – how safe is my life insurance policy? Comments from AIG Canada’s President Peter C McCarthy on Sept 15th reassured its broker network that the company is on solid financial footing. “AIG Life of Canada remains a ...
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Transamerica to introduce new payment options

Effective September 15, Transamerica will offer more flexible limits and options for payment for both new and inforce insurance for their clients. From now on, they'll accept pre-printed personalized cheques from an authorized bank account, money orders up to $500, Counter Cheques for an amount up to $5,000, and pre-authorized debit plan. Bank drafts will also be accepted for an amount up to $5,000.00 if the name of the remitter is pre-printed on the draft by the bank at the time of ...
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Top 10 World Insurance Companies

In times of mergers, absorbs and split-offs it’s not always easy to keep track of the top players in the life insurance industry. That's why we're bringing you the Top Ten List of World Insurance Companies. Among some other top lists we used Forbes Global 2000 special report as a source. Our new section also contains details about each insurance company, together with their corporate history, number of clients and employees - everything that made them one of the Top 10 World Insurance Companies.
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Changes to Canada Life’s Critical Illness Plan – Great news for the life insurance industry

LifeAdvance T100 15-year pay plan – This new plan offers the same features and benefits as T100 LifeAdvance, but premiums are payable for only 15 years and then the policy is paid up for life. New return of premium riders – More choices and simplified features. The ROP at withdrawal and ROP at withdrawal or expiry riders have been renamed. They’re now known as ROP15, ROP20 and ROP65. These riders have been streamlined for ease of use and to ...
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Six key traits of a successful insurance broker

The insurance business is filled with opportunity. But this fact is tempered by the reality that over 80% of new brokers leave the industry within their first 12 months. Why is it so? What does it take for a new broker to succeed in insurance? Determine if you are ripe for success in this industry! As a latest addition to our set of insurance broker articles, we give you LSM's six key traits of a successful insurance broker.
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Client Roundtables with RBC Insurance

RBC Insurance will hold two client roundtables by their Life & Health Claims Department on September 24th and October 8th, 2008. These events will involve small groups of clients who have had a recent claim with RBC Insurance. In a recent press release, RBC Insurance said that the information they receive directly from these clients will allow them "to better understand their perceptions, specifically with regards to their claims experience, provide us with valuable ...
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