Life Insurance Canada News:

News from 2008

Getting started in the group insurance business

A recent StatsCan study found that businesses with under 100 employees added 185,000 jobs to the economy in 2006. These jobs were split evenly between businesses with 20 to 99 employees and those with under 20 employees. This growing number of small-to-mid-size businesses represents an expanding group insurance market and a tremendous opportunity for Canadian insurance brokers. That is why I have written an article about five reasons why a new or experienced advisor may want to consider ...
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Seven life insurance sins

Do you know why you should watch out for captive agents? Are you aware that the cheapest life insurance plan isn’t always the best? Do you know why you should avoid accidental death insurance and be aware of policy exclusions? We've put together a list of seven life insurance sins you have to know of before signing a contract.
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Manulife Financial donates $10,000 to Canadian Red Cross

Through its Halifax Community Board, Manulife Financial will donate $10,000 to the Canadian Red Cross disaster management program in response to recent major forest fires near Porter’s Lake and Tantallon, Nova Scotia. “Red Cross volunteers directly assisted hundreds of people and spoke in person or by phone with more than 3,000 evacuees to ensure they were safe and that any special needs were met,” said Gerard Ferguson, chair of Manulife’s Halifax Community ...
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Life Insurers Applaud Industry Committee Report

House of Commons - by Simon Starr The Canadian Life and Health Insurance Association (CLHIA) applauds the House of Commons Standing Committee on Industry, Science and Technology on its report on Canada's service sector, The Goods on Services. "The life and health insurance industry strongly supports the recommendations of the Committee. They have recognized the vital role that the services industry plays in the health and prosperity of our economy," said Frank Swedlove, ...
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AIG is now BMO:Consumer Friendly Changes at AIG

AIG Life Canada has recently made the following five changes to its life and critical illness product line-up as of June 2008: Changes to Yearly Renewable Term (YRT) plans on their Universal Life Dimension series New lowered Preferred Term 10 and Term 20 rates A new Business Guaranteed Insurability Option for business clients New T100 Rider on all Life Dimension plans A new 15 Pay Living Benefit 100 (CI) plan ...
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“Cascading” life insurance

Tim Cestnick, a well-known author and tax commentator has written a very informative article for the Globe and Mail on “cascading life insurance.” He explains that buying life insurance on the life of your children can actually make sense. As he points out, this strategy takes advantage of the fact that you can invest money inside a universal life insurance policy on a tax-sheltered basis. The death benefit, he continues, along with the accumulated investments in the policy, ...
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Let’s Talk About Schizophrenia

The stigma around schizophrenia is one of the reasons Canadians don't want to talk about it. "Let's Talk About It", a provincial campaign organized by Schizophrenia Digest, will hold the fifth and final in a series of province-wide community public forums in Toronto on June 10th at the Centre for Addiction and Mental Health Centre. According to a Toronto based poll, 92 per cent of respondents agree the cost of medications prescribed to someone with schizophrenia should be covered by ...
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Step Up for the Children

Over 4,000 participants are expected to attend the 26th edition of Step Up for the Children with Standard Life, to be held on Saturday, June 14 on Ile Sainte-Hélène at Parc Jean-Drapeau in Montreal. The event will begin at 8:30 a.m. with the 10-km race, followed by the 5-km family walk at 10 a.m. Event ambassador and Montreal Canadiens defenceman Francis Bouillon and child spokesperson Valérie Bernier will open the walk. It will also be a fun celebration for ...
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A Strong Term Lineup

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. Unity Life has been selling insurance in Canada for over 100 years, and although they advertise less than some of their competitors they have one of the strongest term insurance lineups in the Canadian marketplace. They are one of the only companies to offer 5, 10, 15, 20, 25 and 30-year terms. And unlike most companies, their entire term lineup ...
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Free benefits for Foresters members

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. On April 3, Foresters and Unity Life of Canada announced completion of the agreement under which Unity Life becomes a wholly owned subsidiary of Foresters. This will strengthen the company’s position in the Canadian marketplace. Unity Life has a great Term Life insurance lineup and the Foresters has an innovative Universal Plan. New ...
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