Life Insurance Canada News:

News from 2010

AXA Assurance Term 20 Plan

SSQ, Life Insurance Company Inc. has purchased AXA Life Insurance Inc., with the official date of the transfer being January 2012. SSQ Insurance Company Inc. is the new name chosen for the subsidiary. AXA Assurance offers a Term 20 life insurance policy which is available throughout Canada. It is available to insured ages 18 to 65. The other plan features include: 1. Coverage that is guaranteed renewable and convertible to a permanent plan without a medical. It's convertible to ...
Continue reading

Level Term vs. Decreasing Term: Assumption Life Offers Both

Assumption Life, one of Canada's oldest life insurance companies, offers a Flex Term policy, which provides Level Term coverage for 15, 20, or 25 years, and a Flex option plan, which is a decreasing term also available for term durations of 15, 20, and 25 years. (more…)
Continue reading

25-Year Term Insurance in Canada: Who Has the Best Rates

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. 25-year term policies provide level premiums for the first 25 policy years. Most policies are renewable and convertible, meaning the coverage can be renewed at the end of the 25 years. One caveat with these plans is, the renewal rate is often up to 10 times higher than the initial premium. The conversion feature means the insured can convert the ...
Continue reading

How Critical Illness Insurance Can Help Those with Cancer

Critical Illness Insurance can cover expensive cancer drugs Cancer can be devastating not just because of the possibly fatal diagnosis, but also due to the often exorbitant costs of the medication used to treat it. Of course, medication is free in Canada as long as you stay in the hospital, but as soon as you are discharged the cost of the expensive medication reverts to you. According to CTV News, this is why the Canadian Cancer Society is calling for more coverage for what they term ...
Continue reading

TD Insurance: Critical Illness Insurance

TD's Critical Illness plan only covers three illnesses. TD Insurance offers Critical Illness insurance to Canadian residents between the ages of 18 and 65 and has a TD Canada trust mortgage of line of credit. The plan covers three illnesses: 1. Cancer (life threatening). 2. Acute heart attack. 3. Stroke. (more…)
Continue reading

ScotiaLife Financial’s Critical Illness Insurance

ScotiaLife Financialhas a Critical Illness plan, which pays a one time lump sum benefit following the first occurrence in diagnosis of one of the following: 1. Heart attack 2. Cancer 3. Stroke The policy is available to Scotia Bank group customers, ages 18 to 65, who reside in Canada. (more…)
Continue reading

TD Insurance’s Business Credit Life Insurance

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. TD Insurance offers business credit life insurance to authorize borrowers who are Canadian residents are between age 18 to 69. The policy is available directly through TD Insurance's call center with the following features: 1) Applicants can get coverage of up to $500,000 without a medical test, but the insured will still need to answer ...
Continue reading

CUMIS Term 10 Life Insurance Plan

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. The CUMIS Group Limited partners with credit unions in offering its insurance and financial products. They are a leading provider of insurance related products and services to the Canadian credit union system. They serve approximately 485 credit unions with a total of more than 5,000,000 members. Their Term 10 policy offers the following ...
Continue reading

Standard Life’s Term 20 Life Insurance Policy

Standard Life's Term 20 policy could have a children's rider (Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies). Standard Life offers Term 20 life insurance solutions to insured people age 18 to age 65. The minimum face amount on the policy is $100,000. Some additional features of the plan include the following: 1. The policy is available on a single-life or a joint-life basis. 2. The premiums are level for the ...
Continue reading

Flexible Term Life Insurance

Assumption Life offers a term life insurance plan called 'Flex Term'. The policy offers many unique features. One of the most interesting is that applicants can be insured for up to $250,000 or less on a simplified issue basis. This means that if the insured can answer "no" to all medical and lifestyle questions, there will be no medical test. Some of the additional features on the policy are the following: (more…)
Continue reading