Life Insurance Canada News:

News from 2011

Life Insurance: 5 Reasons to Buy from RBC Insurance

RBC Insurance offers a variety of life insurance solutions for Canadians, and following are five reasons why buying life insurance from RBC makes sense: 1. Their Term 10 and Term 20 policies are competitively priced for most age groups and the policies are renewable and convertible, meaning the policies can be renewed and/or converted to an RBC permanent life insurance policy without a medical examination. 2. RBC offers preferred rates on their 10-year term and 20-year term policies. ...
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Why Low Interest Rates are Bad News for Canadian Life Insurance Companies

The Bank of Canada's overnight lending rate has remained at 1% since September 2010 in order to stimulate growth during the global economic downturn and rising risks, according to iPolitics. This is bad news for Canada's insurance industry.Insurance companies rely on interest from their investments to bolster profits. Revenues from life insurance premiums are invested in bonds, and the interest generated from these bonds goes to cover the costs of claims, liabilities, and other ...
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BMO Insurance Life Dimensions and Life Provider Universal Plan

BMO Insurance offers two of the most competitively priced plans in the Canadian insurance market.Both its Universal Life plans — Life Dimensions and Life Provider — offer both an increasing and level cost ofinsurance option. Increasing cost of insurance plans typically start off with a low cost of insurance, but the cost rises as the insured gets older. Level cost of insurance, on the other hand, starts off higher in cost, but the cost remains level for life. ...
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Group Insurance: What impact are Low Interest Rates Having?

Government benefit plans, such as your pension plan, are being hampered by historically low interest rates. Pension plans use income from investments to cover the cost of their liabilities. These investments are generally placed in low-risk, interest-generating vehicles. Today’s historically low rates are leaving many government pension plans underfunded. However, because these plans are government protected, the shortfall has to be taken from somewhere. The result is that many ...
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Titan of Social Justice Could’ve Been Helped by Long-term Care Insurance

Dan Heap is now a shadow of his former self. According to the Toronto Star, the man who once advocated for refugee and workers' rights is now ailing in a retirement home following a heart attack and a 2005 Alzheimer's diagnosis. He is now on a waiting list for long-term care and since the retirement residence he was living in told his wife they could no longer meet the couple's needs last December, his family now keeps a 24/7 vigil just to help Heap execute the basics of daily ...
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BMO Insurance Solutions

BMO Insurance offers a whole host of life and living benefit insurance plans. Its product offering is split into two channels: 1) They offer policies direct to the consumer at www.bmolife.com, through their call centre and through their independent broker network. BMO Direct plans include its Easy Term plan, its Simplified Issue and Guaranteed Issue Funeral Expense Plan, Children’s coverage, and Accidental Death Benefit plans. (more…)
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Am I covered if i commit suicide after having the policy for more than 2 years?Thanks for the question - I assume you are referring to a life insurance policy. Life insurance policies have a 2 year suicide provision so the policy would pay out after 2 years assuming there was no mistatements of fact on any of the application questions. Read more questions and answers about Life Insurance FAQ.
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What is a Term Life Conversion Option?

Most term life insurance policies in Canada are convertible, but what exactly does that mean, "Convertible," and what factors are important when considering this option? A term conversion means that the insured can convert their term life policy to a permanent policy without a medical. This can be a big advantage if the insured's health has changed since the original policy was taken out. An example is a healthy male who takes out a 20-year term policy at age 40, but soon develops ...
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Jim Flaherty: “Banks Won’t Be Able to Sell Insurance Online.”

Jim Flaherty has rubber stamped the fact that banks can no longer sell insurance on their websites. Canadian Finance Minister Jim Flaherty has made it official. Under new regulations instituted on October 11, 2011, banks are no longer allowed to promote or sell "unauthorized" insurance products online. (more…)
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What Warren Buffet Looks for When Doing Business With Someone

Warren Buffet needs three things from his business partners Currently ranked the third wealthiest person on Earth and widely regarded as one of the world's most successful investors, Warren Buffet obviously knows a thing or two about doing business. Recently, the Berkshire Hathaway CEO revealed three things he looks for in everyone he does business with before he ever solidifies it with a handshake or signs on the dotted-line. The three qualities Warren Buffett requires in everyone ...
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