Life Insurance Canada News:

News from 2010

RBC Insurance’s Universal Life 3.5% Minimum Guaranteed Return

RBC Insurance's Universal Life plan has a 10-year guaranteed investment option with a guaranteed rate of return of 3.5%. The 3.5% guaranteed minimum rate of return is now guaranteed for the life of the policy to any policyholder who select the 10-year guaranteed investment option. The 3.5% guaranteed rate-of-return is available on their Universal Life plan with and without a bonus interest option. Should interest rates increase in the future, the policy holder would have the ...
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Mortgage Insurance: Why you should choose LSM Insurance

When Charlotte Hutcheson had children, like most parents, her priorities instantly changed: We naturally went into “protective” mode and everything we lived and breathed beyond that point was in consideration of our girls first. The “what if’s” began to enter our minds…. “What if one of us becomes ill or dies?" We could not begin to completely enjoy this journey with our daughters without the security of knowing that in the event of a tragic accident or sudden illness, the remaining ...
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Empire Life’s BeneFitPlus Employee Benefit Plan

Empire Life has a new plan for your employees. Empire Life offers an employee benefit product, which is designed for Canadian businesses with between 20 to 50 employees. The plan is called “BeneFitPlus” and offers the following features: 1. Employee basic life insurance. 2. Employee accidental death and dismemberment insurance. 3. Employee optional life and accidental death and dismemberment. 4. Dependent life insurance. 5. Extended health benefit for employee and ...
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Understanding Group Insurance: Plan Deductibles and Co-insurance

All Group Benefit policies include a drug plan portion. Drug reimbursement options include the following two variables: 1. The plan deductible: The plan deductible allows the employers and employees to share the cost of drug expenses. A deductible is the amount the employee must pay before your insurance starts to pay its portion of costs for a covered health expense. The deductible can vary in amount from company to company and is used to help contain the cost of the company's ...
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Canada Life Term 10 to Term 20: Special Conversion Offer

Canada Life is announcing a special conversion offer to Term 10 policy holders between November 1, 2010 and October 31, 2011. The insured must be on the fifth anniversary of their policy and either have their Term 10 coverage as a standalone policy, or as the rider. Insured who fall into the rider category, and are less than age 65 during that period, can convert their Term 10 coverage to a Term 20 policy without evidence of insurability. This can result in the insured having a ...
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UL Mutual’s Long-term Care

UL Mutual offers a long-term care plan which is available in Quebec, Ontario and New Brunswick to individuals between the issue ages of 16 and 60. When looking into the plan, you'll find the following: 1. Premiums are payable until 45, 55, 65, or 75-years-old and the minimum payment period is 20 years. Policy fees are $100 per year, but for multiple contracts they are $90 per year. 2. The minimum benefit amount is $500 per month, while the the maximum is $7,500 a month. The policy ...
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Life Insurance & Paramedical Examinations: What to Expect

Many insurance companies require a paramedical examination as part of their application process. As a rule of thumb, the higher the face amount and the older the applicant the more medical requirements the insurance provider will ask for. Applicants who are not keen on medical tests may want to consider Assumption Life's Term life insurance plans. Assumption Life Term policies are available in 15, 20 or 25 year terms and are available with either a level or decreasing death ...
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Life Insurance Applications and Blood Tests

Life insurance companies often require a blood test if the insured applies for a higher face amount or is an older applicant. The blood test is completed by a health professional who uses a sterile kit and will usually draw two to three tubes of blood, both used for different tests. A urine specimen is also generally collected in addition to the blood test. It's important the insured prepare himself or herself by doing the following: 1. Allow 10 to 15 minutes for the appointment. 2. ...
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BMO Insurances Easy Term Life Insurance

BMO Insurance Easy Term plan* is sold directly by BMO's call center. The plan provides the following features: 1. The premiums are level for the first 10 policy years. 2. The plan is guaranteed renewable until age 85 and guaranteed convertible to age 70. 3. The conversion option is limited to BMO's Term 100 plan and the coverage is convertible without a medical. 4. The policy is available without medical tests up to $200,000 of coverage. However, there is a full list of health ...
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Critical Illness Term to 75

The Ins and Outs of Critical Illness Term to 75. (Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies). Critical Illness Term to 75 coverage provides level premiums and pays out a Lump Sum Benefit should the insured be diagnosed with a listed Critical Illness and survive the waiting period under the policy. The plan has level premiums to 75, and depending on the carrier can have a variety of riders, including a return of ...
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