Life Insurance Canada News:

News from 2014

Financial Literacy Month 2014

Recap of Financial Literacy Month 2014

November was Financial Literacy Month in Canada. This nationwide campaign was spearheaded by the Financial Consumer Agency of Canada to help inform Canadians about personal finance. The Government of Canada and Canadian financial experts took to Twitter with #FLM2014 to give their tips on how to handle personal finance. Topics included debt, security, financial planning and much more. The most common topic on Twitter was debt management. Canadian finance bloggers, credit unions ...
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LSM in the News: Is Your Business Ready for a Four-Day Work Week? (The Voice)

LSM Insurance is known throughout the land for its four-day work week. As a result, its founder, Lorne Marr, is often called upon in the media to talk about its genesis. Recently, he recounted the story for The Voice, the business magazine for The Markham Board of Trade. As the story goes, Lorne was running a much smaller, six employee, version of LSM Insurance and he wanted to reward his workers for a great year, but couldn't afford to give them a raise. Instead, he proposed the ...
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Landmark Supreme Court Decision Opens Door to Sue Banks Selling Creditor Life Insurance

If you're a frequent visitor to this page, you know that LSM Insurance is not a big fan of creditor life insurance and mortgage life insurance. Though these policies are meant to cover the remaining balance on your credit card or mortgage in the event of your death, often it's very difficult for family members to actually receive the payout they are expecting because the banks who sold their loved one the policy engage in post-claim underwriting. This is when the policyholder is ...
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LSM Insurance Announces their 2nd Annual Bowling Night Benefiting Lupus Ontario

Join Chantal Marr and the rest of LSM Insurance for a night of bowling benefiting Lupus Ontario. Earlier in 2014, LSM Insurance held a bowling night, raising $2,000 for Lupus Ontario.The event was so successful that they're doing it again in 2015. "LSM Insurance is extremely proud to once again working with Lupus Ontario and sponsoring our second Lupus / LSM Charity Bowling Event. They are terrific group of people who are working hard every day to try and improve the quality of ...
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Is Whole Life Insurance a Good Investment?

Arguably, the most debated issue among life insurance consumers is whether whole life insurance is a good investment or whether you should instead go with a term insurance plan.This is the "To Be, Or Not to Be?" of the life insurance industry, as life insurance experts and personal finance columnists come down on either side of the issue with equal vehemence. In an effort to bring clarity to the two opposing views and try to clear up the cluttered debate so that the layman can ...
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The Financial Cost of Cancer and What You Can Do About It

It's not hard to guess that cancer is the leading cause of death in Canada, accounting for 30% of all deaths. It's probably no surprise to any of us that191,300 new cases of cancer and 76,600 deaths from cancer will occur in Canada in 2014. This includes 40,000 Canadian men and 36,600 women. If you break it down 524 Canadians will be diagnosed with cancer everyday and 210 die from it. It's an incredibly high cost on society -- losing good people -- and that's not counting the emotional ...
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High Net Worth Executives and Disability Insurance

Louis Gosselin began his career in the special risk field in 1974 and worked as an underwriter for three different insurance companies, until he formed his practice in 1988. He worked mostly with high income earners in the sports, leisure, corporate and entertainment industries, traditionally difficult classes of risk mostly handled by Lloyd's. Over the years, he convinced his underwriters at Lloyd's that the same principles of disability insurance covering a person's own occupation ...
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MoneySense Retire Rich 2014 Recap

MoneySense, Canada’s best-selling finance magazine held an event last weekend titled Retire Rich. The four featured speakers were Bruce Sellery, Duncan Hood, Malcolm Hamilton and Dan Bortolotti. Each person brought something different to the topic of retirement. Bruce Sellery started the event with his panel on how retirement is not an activity but a life stage. The key to retirement is that you make plans and execute on them. Bruce wanted everyone that attended to do one thing in the ...
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Are Robo-Advisors The Future Of Investing?

The world of financial investing has changed. More people are getting involved with personal financial investments and they are not using financial or banking advisors. Some people do it themselves and others are acquiring the assistance of robo-advisors. Robo-advisors have been around since 2005 and have now started to gain traction in Canada over the past year. These advisors are computers that run algorithms which will determine the best investments for you using your own ...
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Sheryl Smolkin | Journalist, Retirement Redux

Sheryl Smolkin Journalist, Retirement Redux What Type of Life Insurance do you own? My workplace life insurance which was twice my salary ended when I retired at age 54 from my corporate job. I have continued to pay for a $15,000 policy available as part of my retirement package. My husband’s workplace coverage is similar and will also end when he retires. We have sufficient assets at this stage and a paid-up house so we do not view life insurance as a priority. What factors ...
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