Life Insurance Canada News:

News from 2014

CRA Rules Seg Funds Not Tax Deductible

The Canada Revenue Agency has ruled segregated funds are not tax deductible. "Asegregated fund policy is a contract of insurance...not a share or security," said a statement from the CRA confirming the decision. The ruling was madein response to a question asked at the Conference for Advanced Life Underwriting (CALU) spring meeting. CALU has responded with disappointment by saying that the CRA definition is a narrow view of how insurance investment products should be ...
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Brian So|Insurance Advisor, AAFS Insurance

Brian So Insurance Advisor, Brian So Insurance 1.What type of disability insurance do you own? I own an individual disability insurance policy with an regular occupation extender, residual disability, future insurability and cost of living riders. In case your readers are not aware, the regular occupation extender means that I will not be forced back to work after 24 months if I could work in any gainful occupation. Residual disability protects me from a partial loss of income, ...
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The Frugal Trader|Blogger, The Million Dollar Journey

The Frugal Trader Blogger, The Million Dollar Journey What type of disability insurance do you own? My wife and I have individual policies in own-occupation disability insurance. (more…)
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Enjoying Life in 10 Simple Ways

You are stuck in a rut and life is passing you by. Parents work and provide a living for their family while living a life that is not enjoyable. Perhaps you are a single woman or man living on their own and have given up on finding a partner. Fret no more, here are10 ways to Enjoy Life 1. Wake Up Like a Champion For many of us, waking up is the hardest thing to do. It is a battle to get out of bed and face the world in the morning. However, when enjoying life a good ...
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Top 5 High Risk Diseases That Will Make it Difficult to Get Life Insurance

Looking for life insurance with a high risk disability or disease is a difficult task. Often, insurance companies will only offer expensive premiums and others will decline your application all together. There are many variables that are considered when determining to accept an application. Some factors include, age, weight and gender. Companies also rate the severity of the disease. If an illness is categorized as mild or moderate then companies will accept you. You may be able to ...
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The Top Three Insurance Commercials

In the last article of this series, we take a closer look at no other than State Farm and our favourite ads promoting their policies. Now it's time to reveal who stands on the podium and made it to our list of the top insurance commercials of all time in third, second, and first place. 3rd Place 1st for Women – So Backwards Number 3 on our list of the best insurance commercials comes from all the way across the globe. 1st For Women Insurance Company is a South African company that (as ...
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Sports That May End Your Life Early

Some sporting activities can be really dangerous. Whether it is base-jumping, deep diving or heli-skiing, common sense tells us that we might face a possibility of ugly injuries and even death if something goes wrong. However, several recent studies show that even sports that seem relatively harmless might shorten your life considerably. Before all the couch potatoes out there start celebrating the news of being the winners in a healthy lifestyle-obsessed world, it is important to mention ...
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The Dumbest Insurance Fraud Attempts Ever: #11

Insurance Fraudster Got Caught After Tweeting: "Catch Me if You Can" Sharing what's on your mind, where you are or where you're going is a daily habit for millions of social media users. People use it to write something funny that can cheer up their friends, to tell their families that they have safely arrived or, in case of convicted criminals on the run, to cheer up the police by letting them know where to find them. Wanda Lee Podgurski, a former Amtrak clerk who fled after being ...
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Top 7 Fitness Centres in Toronto

Summer has come to its unavoidable end and the weather will be slowly getting colder and colder. As much as people enjoy exercising outside year round, we live in Toronto, and although most of us enjoy winter sports, morning workouts in the park in -10°C are not very comfortable. That's of course only one reason to go to the gym. (more…)
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Critical Illness Insurance: What Changes Should Insurers Make?

Critical illness insurance pays out a lump sum that you can use at your discretion if you are diagnosed with one illness on a list of critical illnesses, including cancer, stroke, and multiple sclerosis. But, in a recent article from the Financial Post, Mark Halpern of illnessPROTECTION.comreported that fewer than 25% of advisors have sold a living benefits policy (including critical illness) in Canada. So why hasn't critical illness insurance caught on in Canada? We asked some of ...
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