Life Insurance Canada News:

News from 2009

Term Life: Unity Life Updates Risk Structure

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 updated their Preferred Term risk structure effective immediately! They've gone from six risk classes down to four, making Class D their new Standard rate. Also, Risk Classes E and F are now terminated, since these are borderline rates and only need to be applied at issue on a case by case basis. This means they will no longer be ...
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Canada’s Best Universal Life Policies

"You wanted the best, you got the best!" is not just a line that works for rock 'n' roll, but Universal Life insurance as well. The following is a list of Canada's top Universal Life policies for a 40-year-old male non-smoker, and a 40-year-old female non-smoker at coverage amounts of $250,000.00, with a level cost of insurance option. Universal life policies are available with either an increasing cost of insurance option, or a level cost option. The level cost option guarantees the ...
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Whole Life Insurance for Children: A detailed look at Canadian Insurance Companies

Whole Life insurance can provide a valuable option for individuals looking for lifetime protection, fixed premiums and a tax sheltered savings component. Participating Whole Life policies allow the insured to participate in the profits of the insurance company. By taking out a policy on a child, the insurance can benefit in the following three ways: 1. They lock in at a low cost. 2. The policy can be paid up in a limited number of years. 3. It allows the insured to lock in at their ...
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Whole Life Insurance Policies in Canada: A Comparative Analysis

Whole Life insurance policies can be broken down into two types: Non-participating Fully guaranteed contracts and the plans do not participate in the companies profits. Participating Whole Life Policies Offer policy guarantees, but in addition, allow the applicant to participate in the profits of the insurance company. Whole Life policies They have gained a resurgence in popularity in Canada over recent years, as consumers are becoming more concerned with market volatility. ...
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Travel Insurance: Points to Remember

As the holiday season approaches, you and your family may be looking to get out of dodge. If you are traveling in the coming weeks, there is some regulations, rules tricks and tips you may want to be aware of. 1. Passport regulations. Since June 1st, 2009, passports are a requirement at the border. 2. Personal exemption allowances. There are limits on both the amount and type of items that can be brought back across the border, these vary depending on the duration of the trip. 3. ...
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One Third of Canadians Feel Underinsured

68% of Canadians polled by Ipsos Reid said they feel like they have enough life insurance for their family’s needs. That leaves 32% of the respondents in doubts about their policies. This survey made for RBC Insurance found that parents feel more concerned than adults without children. As much as 76% of parents said they worry about their family's financial situation in case of their death or illness. Cathy Preston, head of Life and Health in RBC Insurance said: "The survey ...
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Canadians Enjoy Greater Benefit Choices

A recent survey has found Canadian employees have more choices through their benefit plans than employees working around the world. Mercer’s survey of 1,752 employers in 47 countries found that just 20% of employers globally provide at least some choice in the benefits they offer, while 7% have comprehensive flexible benefits programs. In Canada, a whopping 41% of employers offer at least some choice and 14% offer comprehensive flexible benefits programs. Comprehensive or ...
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The Future Performance of the Canadian Economy

The Canadian economy has been considered well prepared for this crisis. A sound financial system, fast housing market recovery, solid social and health care networks, abundant natural resources – all these factors were supposed to make recession short and not very painful. However, the economic forecasts for the future are blurry. We can hardly find so many different opinions on the future state of the Canadian economy, than during this autumn. While some experts have accepted our ...
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Canada Protection Plan: Non-medical Whole Life Policies

Canada Protection Plan Whole Life policies are underwritten by Unity Life. Their whole life policies are divided into three categories. 1. Deferred life. Under the deferred life policy, the insured has to answer six health questions and the death benefit is limited to a return of premium plus 3% interest, if a death occurs by non-accidental means. If death occurs by accident, the payout begins immediately. 2. Simplified Life. Under this policy, the insured has to answer a total of 20 ...
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USA Today takes Travel Insurance Questions from Readers

With the holiday travel season heating up and flu season at its apex with H1N1, USA Todayrecognized that perfect storm and asked its readers to submit all of their travel insurance confusions and concerns. At LSM, we share this mission. Our new partnership with Travel Underwriters is meant to help you get travel insurance quotes and policies right from the comfort of your livingroom -- that's why each time you see "Travel Insurance" there will be a link behind the word, so you can ...
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