Life Insurance Canada News:

News from 2013

BMO Insurance has Competitive Term 20 Rates

BMO Insurance offers competitive rates for its Term 20 life insurance plans. A male non-smoker who's 40 years old can receive $250,000 Term 20 policy for only $33.98 per month. He can also get $250,000 in Term 20 with an additional $50,000 critical illness rider for only $64.98. The premiums on the policy are guaranteed and renewable until age 85. The policy is also convertible to a permanent plan any time before age 70. Preferred rates are available for coverage amounts as low as ...
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Insurance Solutions for Unhealthy Young People

According to CBC, "Between 1994 and 2005, rates of high blood pressure among Canadians skyrocketed by 77 per cent, while diabetes rose by 45 per cent and obesity by 18 per cent." Further, "More than 250,000 Canadians in their 20s and 30s had high blood pressure, making them the newest at-risk group." Plus, The Childhood Obesity Foundation of Canada reports the following: "There has also been a dramatic increase in unhealthy weights in children. In 1978, only 15% of children were ...
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Foresters Lowers Policy Fees on Term Products

Foresters has lowered the fees on their term products by $20. These lower rates apply to any Term 5, Term 10, Term 15, Term 20, Term 25 or Term 30 application submitted or pending as of May 27 2013.This reduction in policy fees will replace all current policy or multi-policy fee discounts. Below is a comparison of Foresters' current rates against those of its biggest competitors: (more…)
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Term 40 Life Insurance Policies in Canada

Term insurance, as the name implies, generally covers a temporary need, such as a line of credit, mortgage, or business loan. Most term life insurance policies purchased in Canada are Term 10 or Term 20 policies. Term 10 plans offer premiums that are low for 10 years, and Term 20 plans offer premiums that are level for 20 years. Following a trend seen in the United States, Canadian life insurance providers are leaving the permanent life insurance market or increasing their premiums and ...
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Disability Insurance Horror Story

David Egglesfield can no longer work as a pharmacy technician. Stopping Motion David Egglesfield had the boss from hell. As a pharmacy technician at the Rouge Valley Centenary Health Centre in Toronto, he was constantly subjected to her regular physical and mental abuse. "She'd give me the worst jobs and she'd say, 'I'm talking you off the schedule, you're going to do what I tell you to do!" says Egglesfield."One day, she actually came up to me and said, 'You know, I think you're a ...
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Equitable Life Announces Changes to its Dividend Scale

Equitable Life announces changes to their dividend scale for their participating whole life policies, effective July 1, 2013. Most Equimax policies were purchased between November 2004 and February 2012. Those whole life participating policies purchased outside that period on both sides will not be affected. The change consists of reducing the current interest rate of the policies within that period by 0.36%. The dividend scale will now be 6.8% until June 30, 2014.On average, ...
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Insurance Claim Denied: Answering Questions Correctly

Consuelo Hermogino's life couldn't have been better. A new immigrant to Canada from the Philippines, she was about to get married to the love of her life, Bob Lavigne, after meeting him at a church in Regina, Saskatchewan, five years ago. She was finally able to bring her kids to Canada after ten years splitting her time between Taiwan and Canada before she could bring them over. Everything seemed to be going well, but then, after only being reunited with her children for seven months ...
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How Rising Interest Rates Could Lower Your Life Insurance Premium

Empire Life has come out with a unique Hybrid Life Insurance policy that will allow Canadians to benefit when interest rates finally rise fromtheir historical lows. The plan is called Hybrid Solution 100, and it offers the following benefits: (more…)
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Dirty Little Secrets: 5 Things Canadian Life Insurers Don’t Want You to Know

To put it bluntly, many Canadians are skeptical toward life insurance brokers andlife insurance companies, and in some cases, they're right to be suspicious.While the majority of insurance advisors and companies have goodintentions, there are certain pieces of information that they'd rather keep to themselves. Below are the top five most coveted secrets that those in the insurance industry do not want you to know: 1. It's Relatively Easy to Become a Life Insurance ...
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Canadian Traditional Issue Health Insurance Plans: A Snapshot Comparison

It can be difficult to decide which health insurance plan to go with, especially when there are so many features, advantages, and drawbacks to sift through. Thankfully, LSM Insurance is here to break it all down for you so you don't have to. Manulife — Flexcare • You can choose either a core plan or one or more of the stand-alone packages. • If you choose a core plan, then you also have the option of increasing your coverage with one or more add-on packages. Full coverage is ...
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