Life Insurance Canada News:

News from 2012

Universal Life Insurance in Canada: Understanding Policy Surrender Charges

Universal life insurance policies offer life insurance protection with an optional investment component. The monthly cost of insurance (including taxes, administration, and policy fees) is deducted from the planned premium, and the excess goes into an investment account often referred to as an accumulation fund. The investment within the accumulation fund can range from low-risk investments such as GICs or bond funds to higher-risk investments such as equity or speciality funds. ...
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Group Insurance in Canada: The LSM Advantage

LSM can provide comprehensive group benefits plans. LSM offers group insurance solutions from the largest life insurance companies in Canada. We offer six key benefits: 1. LSM Insurance keeps on top of industry trends. We know which companies are offering the best value for your size and type of business. 2. All information is secure and confidential. 3. We'll provide a no-cost assessment of your current group insurance plan. 4. We offer one-on-one financial counselling with ...
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Group Insurance in Canada: Understanding the Cost Plus Reimbursement

Cost Plus is an option that is added to many group insurance policies in Canada. The option provides the employer the opportunity to deduct health or dental expenses that exceed coverage limits outlined in their group insurance plan. It should be noted, though, that the expenses must be covered under the Income Tax Act for the expense to be deducted. Deductible expenses, or some of the expenses that could be reimbursed by cost plus, include prescription drug amounts and dental amounts ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Is there a certain amount of time a policy needs to be in effect before full death benefits are paid? Most life insurance policies in Canada pay out from day one - except in instances of suicide or if their is meaningful non disclosure on the application. Guaranteed issue policies (no health questions and no medical tests) have a 2 year waiting period on the death benefit and some Simplified Issue policies (3 to 12 health questions and no medical tests) ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Can a former spouse buy and pay for an insurance on the life of her former husband, on whom she does not depend financially? (This is in Ontario, Canada)There has to be an insurable interest and the insured always has to sign the application and answer any necessary health and lifestyle questions Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: If a person has quit smoking for a year, does it make a difference in the annual premium. Yes non smoker rates are significantly less than smoker rates Read more questions and answers about Life Insurance FAQ.
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BBD’s Diagnostic Specialist Access Insurance

BBD's new group plan can bring unique benefits. To kick off the new year, BBD (Benefits by Design) will be launching Diagnostic Specialist Access Insurance underwritten by Industrial Alliance Pacific. This product allows employees and their dependents who are on medical waiting lists longer than 21 days immediate access to diagnostic examinations such as CT and MRI scans and specialist consultations. There are no medical exams or other evidence of insurability required, and every ...
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Life Insurance for Dentists

There are about 101,972 dentists working across Canada, making an average salary of $79.75, according to statistics collected by the Canadian Government. The life insurance options needed to preserve the financial future of their families extend way beyond those offered by professional associations. Below is a breakdown of the individual insurance options available to any dentist working today: Term Insurance starts off lower in cost and increases as the insured gets older. The term ...
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How to Find the Right Book of Business to Buy and How to Maximize It

How to maximize the opportunities in a new book of business. A great New Year's resolution insurance brokers often make is to grow their business. They can do this rather quickly by acquiring books of business from other brokers who are selling their books. No one knows this better than Cameron Jacox and James Hilton, managing partners at Jacox-Hilton, a producer consulting firm that helps brokers across North America sell their books and maximize the opportunities that are recognized ...
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