Life Insurance Canada News:

News from 2015


Critical Illness Insurance Expert: Kelsey Blinkhorn

Kelsey Blinkhorn GBA, CHS, CPCA Blinkhorn Benefits Group 1. What Type of Critical Illness Insurance Do You Own? I own a non-cancellable, level premium to age 75 policy with a face amount of $100,000. My policy includes both return of premium on death and return of premium on surrender. 2. What Factors Did You Consider When Determining The Coverage Amount I purchased my policy at age 23. At the time, I determined the appropriate amount of coverage was between 1x and 2x my annual ...
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Weekly Personal Finance Roundup For May 1st 2015

This week at LSM Insurance we published an infographic on insured annuities vs GICs. In this infographic we looked at the pros and cons of each and see which one provides the greater return for retirement income. With a new report out from Moody's Investor Service, we look at what could happen to insurers if the Bank of Canada keeps interest rates low. Finally, we reviewed Wealthing Like Rabbits by Robert Brown, a fun personal finance book that covers the topics of RRSPs, ...
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Wealthing Like Rabbits – Book Review And Giveaway

Robert Brown's Wealthing Like Rabbits is indeed an original introduction to personal finance. You won't find any other books out there that informs readers about personal finance using references such as zombies, the failing Toronto Maple Leafs and Super Mario. It's clear that the book is aiming at the underserved younger audiences and does a good job of it. Along with the use of references, Robert Brown writes in simple, easy to understand language for people whom are starting to ...
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Life Insurers Face Losses If Interest Rates Stay Low

Due to the dropping prices of oil worldwide, oil-exporting countries such as Canada are at risk to experience inflation and negative financial growth. In an attempt to prevent this from happening in the country, the Bank of Canada recently cut its interest rates by 0.25 percent. According to the Bank of Canada, this move was made in order to counter inflation and maintain financial stability. Cutting interest rates may seem beneficial at first, however, the life insurance industry is one ...
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Should You Invest In An Insured Annuity or a GIC?

Insured annuities and GICs are great ways to ensure your income in your retired years. For those that don't know an insured annuity is practically both a prescribed life annuity combined with a term life insurance policy. The life annuity provides a guaranteed income stream. On the other hand, the term life insurance policy provides a cash payout upon a death claim. A GIC, otherwise known as a guaranteed investment certificate, is an investment that offers a guaranteed rate of return over ...
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Weekly Personal Finance Roundup For April 24th 2015

It seems that April didn't get the message that winter is over just yet. We experienced hail and snow just outside our office this week in Toronto. Thankfully, we were able to round up a few articles to keep you warm. We launched our list of top 50 personal finance websites for 2015! There were a lot of great websites that we had to include in our list that we didn't last year. Next we talk about ways we can help put an end to elder financial abuse. This week Canadian Budget Binder ...
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How To Put An End To Financial Elder Abuse

Due to their age and declining cognitive abilities, senior citizens are often left vulnerable to abuse in our society. While physical elder abuse is a widely discussed issue, another major form of elder abuse often goes unreported: financial abuse. What is financial elder abuse? In a nutshell, financial elder abuse refers to the theft, manipulation or exploitation of a senior citizen’s assets for personal gains. Let’s take a look at some examples of how elders are financially ...
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Top 50 Canadian Personal Finance Websites

There are a lot of good top personal finance blog lists out there so we decided to take it one step further and collect key performance data to rank these websites by the numbers. The list includes benchmarks such as the Alexa scoreand Moz Domain Authority,social metrics such as the content author'sKlout score, Twitter followers, Facebook Page likes, Google Plus views and the website's most shared piece of content (as perBuzzsumo). We decided to rank the websites by Moz Domain ...
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6 Insurance Policies Self-Employed Professionals Should Consider

Being self-employed has its perks. You have a flexible schedule, control your own income potential and make decisions based on your own self-interests. But, when it comes to being insured, that’s where being self-employed can be a little tricky. Working for an employer usually allows you to be a part of a group insurance plan that covers you and your family for a variety of insurance products. If you decide to take the self-employed route, you will usually be cut off from these group ...
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Weekly Personal Finance Round For April 17th 2015

This week at LSM Insurance, adding to our life insurance experts roundup, we interviewed the principal of Aleph Investments, David Merkel. Chantal also guest posted at Jonathan Chevreau's blog Findependence Hub. Her article tackled the topic of when you should buy life annuities. Our other article for this week included10 financial planning designations that you need to know about. We noticed a lot of great articles this week that asked us questions and made us face ...
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