Life Insurance Canada News:

News from 2009

Desjardins’ Long-term Care Plan

Our second in a series of close look assessments of three of the leading long-term care insurance plans in Canada is coming at you now. We began with Sun Life, but now we examine Desjardins Insurance's Long-term Care Plan. Pros A major benefit is that the client gets to use the funds as he/she sees fit and not necessarily in any care facility. Cons Premiums are only guaranteed for the first five years. The policy is a bit high at ...
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Canada Protection Plan Non-medical Deferred Life Plan

Canadian Protection Plan's Non-medical Deferred Life Plan is underwritten by Unity Life. The plan has only six health questions and offers discounts to non-smokers. If the insured has been declined for life insurance in the past two years, he or she can still qualify as long as they answer, "No" to all six health questions. Coverage begins after the first two years from the time the policy was issued. If the insured dies within the first two years, the premium will be returned plus 3% ...
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Disability Insurance: Will You Collect?

Disability insurance is perhaps the most fickle of all the different types of insurance in terms of being able to collect for your ailment in a timely fashion because there just seems to be too many exclusions or fine print. However, if you tread carefully and follow our simple steps, you will be on the road to collecting on your claim everytime. Verify the definition of disability. When analyzing your disability insurance, it's very important to understand the fine print ...
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Sun Life’s Long-term Care Plan

Many Canadian insurance companies carry a Long-term Care plan, but we know how hard it can be to tell the differences between them all. That is why we have taken the liberty of breaking down three Long-term Care plans from three of Canada's leading insurance providers. First in this series is Sun Life Financial: Pros Rolling five year guarantee (guaranteed to remain the same for five years). Zero elimination period available for facility care. ...
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Inflation Is Back

Five months of deflation, the longest period recorded in Canada since 1953, ended last month. Year-to-year inflation edged up 0.1% in October, jumping into positive territory after September’s -0.9%. No matter how small one-tenth of a percent inflation seems to be, questions about the future still arise. Higher or Lower? Such simple information about inflation can sometimes explain less than no information at all. If you compare month-to-month inflation, you will find that prices ...
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BMO Insurance’s EasyOne Life Non-Medical Life Insurance

BMO Insurance's EasyOne Life Plan is available through BMO's call centre. The plan is an alternative to their Guaranteed Life Plus Plan and has the following features: Coverge takes effect from day one, unlike BMO's Guaranteed Life Plus Plan. Face amounts range from $2,500 to $15,000. Smokers and non-smokers get the same rate. Applicants must be between ages 50 to 75. Advantages Level premiums ...
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Cooperators Non-Medical Life Insurance Plan

Cooperators, which employs a captive sales force, offers a non-medical life insurance plan available with face amounts from $2,000 to $25,000. The face amount doubles, if the insured dies by accident. There are no medical tests or doctor's reports, but the insured will have to answer a series of health questions. Depending on the answers to these questions, coverage can begin immediately or on a deferred basis. Deferred coverage means the death benefit is limited to a return of premium ...
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BMO Insurance’s Guaranteed Life An In Depth Analysis

BMO Insurance's Guaranteed Life Plus is only available through BMO's call centre and not through its broker network. It isa Guaranteed Issue policy so there are no medical tests or health questions. On the surface this looks attractive but this convenience comes with many underlying issues. The plan features the following: Coverage for the insured aged 40 to 75 Coverage is available in five premium options: $20/month, $30/month, $75/month, ...
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Manulife’s Follow Me Life Insurance Plan

Manulife's Follow Me plan is available without medical tests to applicants who have left their company's group plan and apply within 60 days of the coverage ending. The plan is available to insured ages 18 to 69; coverage amounts range from $25,000 to $200,000. The coverage is guaranteed renewable up to age 80 and has a built-in critical illness benefit. To receive the critical illness benefit, you must be a person who is diagnosed with less than 12 months to live. Manulife will advance ...
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State Farm (now Desjardins Insurance Agents) Term 30 Life Insurance Plan: How Does it Stack Up to the Competition?

State Farm (now Desjardins Insurance Agents) is ranked the 26th largest carrier in terms of life insurance volume in Canada, as per their website, www.statefarm.ca. Their life insurance plans are available in three provinces Alberta, Ontario and New Brunswick. A key plan in their term insurance line-up is their Select Term 30. The plan features include: Premiums are level for 30 policy years The plan is guaranteed renewable without a medical The plan is convertible to a ...
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