Life Insurance Canada News:

News from 2011

Desjardins Financial on Life Insurance Policies

Desjardins Financial offers Term Coverage, Whole Life Coverage, and Universal Life Coverage. Their term policies are available as Term 10 and Term 20 policies, and the company offers standard and preferred rates. The plans are convertible at age 65 and renewable to age 80. They offer non-participating Whole Life policies on a life-pay, quick-pay, or 20-pay basis. They also offer a Term 100 policy called Maxlife, which offers fixed premiums for life, but this policy does not build ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:How long does it usually take for a beneficiary to get the death claim even after the contestability period is over and the requirements were already submitted?The amount of time can range from a couple of days to several months. If the insurance company suspects foul play or fraud they will likely write the insured's doctor(s) for clarification. Read more questions and answers about Life Insurance FAQ.
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Equitable Life of Canada’s Life Insurance Policies

Equitable Life of Canada offers a full range of term life and permanent life insurance policies. Equitable Life's term insurance lineup includes a 10-year term and a 20-year term policy. These plans are guaranteed renewable up to age 85 and convertible up to age 71. The conversion period up to age 71 is among the best in the industry. Most insurance carriers only offer term coverage that's convertible to age 65. According to Equitable Life, the conversion allows the insured to "convert ...
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Unity Life of Canada: Life Insurance Policies

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 of Canada offers a full range of term life policies, including a 5-year term, a 10-year term, a 15-year term, a 20-year term, a 25-year term, and a 30-year term. They also offer non-participating whole life insurance and Term 100 life insurance. Their term life policies are available on a standard rate or preferred rate basis. ...
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Great-West Life: Term Life Insurance Policies

Great-West Life offers Term 10 and Term 20 policies. Both of these plans are renewable and convertible, meaning the insured can renew their coverage without a medical up to age 85 and can also convert the policy without a medical to any of their permanent plans up to age 70. The following are rates for a 40-year-old and 50-year-old non-smoking male: $250,000 of Term 10 coverage for a 40-year-old, male non-smoker costs $232.50 per year. $250,000 of Term 20 coverage for a ...
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Manulife Financial Slashing Premiums on Term 20 Life Insurance

Effective November 12, 2011,Manulife Financial will slash its Term 20 rates by approximately 4 or 5 per cent for those between ages 18 and 50, those with standard and preferred rates, and those with benefit amounts between $250,000 and $1,000,000. Also, premium costs for younger males (25 and under) with benefit amounts between $250,000 and $9,999,999 are down by an average of 10 per cent. This reduction also applies to Term 20 Riders. Manulife plans are beneficial because ...
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Exploring Alternative Life Insurers

In its October issue, The Insurance And Investment Journal published an article about new potential insurance products that should help to face the rising COI pricing increases. LSM Insurance was asked to provide independent opinion. Markham-based brokerage firm believes smaller insurers can offer interesting alternative. "Union of Canada is one company that we started to do some work with. They have a pretty unique Term 100 product. It basically gives the insured the level premiums for ...
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BMO Insurance Policy Fee Discounts: Combine and Save

BMO insurance offers policy fee discounts to applicants who add riders to their base policies. The reason for the discount is because when additional coverage is added as a rider, it is not subject to the same policy fees as stand-alone policies. This can result in substantial savings over the life of the policy. The following are three examples of this for a 40-year-old, male non-smoker: 1. Term life insurance plus critical illness insurance: $500,000 of Term 10 coverage with a ...
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Universal Life Rates Are Set to Go Up Again

The National Post, The Globe and Mail,and the Insurance and Investment Journal have all recently run stories on the upheaval taking place in the Canadian life insurance industry. Historically low interest rates are wreaking havoc on permanent Life policies in Canada. Manulife Financial was the first to announce price increases in December 2010, and other companies, including Canada Life, Great-West Life, RBC Insurance, BMO Insurance, Industrial Alliance, and Empire Life quickly ...
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Life Insurance with Transamerica Life

Transamerica Life Canada offers a full range of term and permanent life insurance policies. Their term policies are available as Term 10, Term 20, and Term 30 policies. Each of their term plans are guaranteed renewable and convertible and offer preferred rates. Their Term 30 policy is renewable through to age 100 and has paid-up features available within the policy. Their Universal Life policy comes as two separate plans calledEstate Advantage Universal Life Plan andWealth ...
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