Life Insurance Canada News:

News from 2009

Do Employees Prefer Health Benefit Plans or Cash?

The Sanofi-Aventis health care survey contacts over 2,090 health benefit members. It's the most comprehensive survey of its kind. The current survey, as reported by Benefits Canada, recently asked the question, Do employees prefer health benefit plans or cash? Nearly half of all respondents said they would choose a health care plan over cash. When asked to choose between their current health benefit plan and $20,000, nearly half of those polled chose the health benefit plan (45% ...
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Level Term Insurance vs. Decreasing Term Insurance

Term insurance comes with a variety of terms from 5 years to age 100. One variable that is often overlooked is, whether the insured should go for a level term policy or a decreasing term life plan. Below is a summary of the differences between the two coverages: Level Term Insurance Fixed premiums for a stated term. Level tax-free death benefit. Generally, convertible to a term policy without a medical. Some companies, such as ...
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Term 10 or Term 20 Life Insurance? Not Sure which is Best, La Capitale May have the Answer

Term 10 life insurance is generally the most popular form of life insurance in Canada. It provides low initial premiums, but the cost can rise substantially as the insured gets older. For example, RBC Insurance's $500,000 Term 10 insurance for a 35-year-old, male non-smoker with premiums starting at $26.37/month. However, at the end of the 10th year, the renewal premium becomes $146.70/month. The reason life insurance companies use a buffer is to cover for any health changes over those ...
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Group Insurance and Health Care Spending Accounts

Health Care Spending Accounts (HCSA) are an affordable way to help employers give their employees the health care services they need without incurring any additional out-of-pocket expenses. HCSAs can create flexibility and minimize cost increases of employee benefit plans. The employer contributes a predetermined amount of funds into the HCSA for each eligible employee. These funds are then used to pay for health expenses outside their employee group benefit plan or the traditional ...
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BMO Insurance 20-Pay Whole Life Plan: Strong Features and Cash Values

BMO Insurance offers a wide variety of permanent life insurance policies, some are very competitive, while others could leave you over-paying. BMO's 20-pay plan, has very aggressive cash values and industry leading paid-up features. The non-participating feature of BMO's 20-pay plan means that the client does not participate in the insurance company's profits and all the values within the policy are fully guaranteed. The plan's particular asset is its paid up feature. Starting on the tenth ...
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La Capitale Simplified Issue Critical Illness Plan

La Capitale offers a one page, six question, Simplified Issue Critical Illness Plan. The policy pays out upon the diagnosis of one of six critical illnesses: stroke, coronary artery bypass surgery, heart attack, potentially fatal cancer and coma paralysis. It's available in coverage face amounts of $10,000, $25,000 and $50,0000. The plan has no medical tests and is available in three plan types: A 10-year Term Renewable Fixed Policy. The premiums on this policy are ...
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BMO Insurance Offers Three Unique Term 100 Solutions

Term 100 Policies provide premiums level for life and lifetime protection. Traditionally, Term 100 policies do not build a cash value or have paid-up values. That means that if the insured decides to discontinue his/her coverage at any point in the future, there would be no cash value returned to them and they will not have a reduced paid-up option, allowing them to keep a certain amount of coverage without paying a higher additional premium. BMO Insurance (formerly AIG Life Insurance) ...
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LSM Insurance’s Quest for the Perfect Buying Experience

"We'll be here for your financial needs every step of the way." "Nobody likes to be sold, but people do like to buy when the value delivered is greater than the purchase price." This is the cornerstone of the philosophy upon which LSM Insurance was founded. To this day, we continue to strive to maximize our customers' buying experience. We do this in the following five ways: We under promise and over deliver. We will not promise anything we can't deliver in a ...
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Health, Dental and Life Insurance in One Package from the Canadian Freelancer Union

Recently, we have been taking a look at the three insurance plans offered to the members of the Canadian Freelance Union, a division of the Communication, Energy and Paperworkers Union (Local 2040). Underwritten by ABC Insurance Services Ltd. and Greenshield Canada, we take a look at the benefits, advantages and disadvantages at the second plan offered -- Value Plus. (Health, Dental and Life Insurance in One Package from the Canadian Freelancer Union continued...)
Continue reading Life Insurance – Swine flu surprise

We first warned our readers about how catching the Swine Flu could put at risk your life insurance plans in July this year. November 2009 Moneysense Alas we were right and the Canadian personal finance magazine Moneysense has just run an article on the issue of Swine Flu and life insurance, quoting me. It's nice to see things early, but it's not so nice for those who catch the Swine Flu and are unable to obtain life insurance for a year, with small children at home. If you are ...
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