Life Insurance Canada News:

News from 2019

WE’VE GOT THE ANSWERS: WHAT IS Express Elite Plan?

 Lorne: I’m here with Mike Liam from Canada Protection Plan today. We are doing some video work and we are talking first about Canada Protection Plan’s new Express Elite plan. Why don’t you tell us a little about the plan, Mike, and what makes it unique and why you came out with it and all that fun stuff. Mike: Thanks, Lorne, for having us. We came out with it on May 29 for one particular reason. We are reaching out into what we call the “regular markets” now. It’s basically designed for ...
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Canadian life Insurance companies after Raptors NBA win | Infographic

The recent Raptor’s NBA Championship win has transformed not only Canadian basketball but also the entire life insurance industry. Here is our take on the current Canadian life insurance and living benefits provider landscape (with an obvious portion of humour). Big 3 Life Insurers: Manulife Financial, Sun Life Financial, and Canada Life (former Great-West Life Insurance, Canada Life Insurance, and London Life Insurance). Mid-Size Life Only Insurers: Humania Assurance, Empire Life ...
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Accidental Life Insurance: Everything You Must Know

You’ve likely seen “Accidental Life Insurance” or “Accidental Death and Dismemberment” on your employee benefit booklet or as a rider on an individual policy. What is this coverage and how does it differ from other forms of life insurance? Today we will discuss everything you need to know about Accidental Life Insurance / Accidental Death and Dismemberment, aka AD&D, so you can decide if this coverage should be a part of your insurance protection. What is accidental life insurance? Is ...
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Stack Life Insurance / Top up Life Insurance | What You Must Know

 Lorne: I am here with Mike today from Canada Protection Plan. We are having fun talking about life insurance, imagine that. We are talking about a great idea and a great point that Mike had – how clients who have health issues may actually stack their life insurance (i.e. buy several policies) with different life insurance companies and how that might work so it is a great opportunity to tell our audience about it. Mike: Absolutely, at Canada Protection Plan we only have half-a-million ...
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10 Must-Know Red Flags Your Insurer Looks for When You Apply for Life Insurance

This publication is based on a past Chantal Marr’s interview with Sheryl Smolkin for Toronto Star. As you might know, there are three ways to get life insurance. The first is traditional life insurance, which requires a medical exam and a lengthy application. The second is designed for applicants that may not pass a medical, or that want to avoid an exam and/or want a short and easy application. It’s called simplified issue insurance. The third type, guaranteed issue, is for people with ...
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What Group Benefits Will Keep Millennials Healthy and Happy?

Introduction: I get it, Group benefits is often boring and downright confusing! It is like going to a buffet for the first time…..where do you start? In a world of so many choices, group benefits are no different with even the “one size fits all” cookie cutter plans having different plan designs. With many variables, the typical Millennial needs to keep it simple when researching and look for the following: What are the various coverages offered? (Dental, Prescription Drugs, Vision ...
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Critical Illness – LSM Insurance Advisor Examines Critical Illness Loophole

LSM Insurance advisor Andrew Burdi discussed three little known Critical Illness Insurance Loopholes. 1. Guaranteed renewable policies versus non-cancelable coverage. There are an increasing number of Critical Illness providers in Canada who offer guaranteed renewable Critical Illness coverage. These policies differ from non-cancelable policies in that the premiums may be adjusted on a class line basis. Non-cancelable policies offer guaranteed premiums for the life of the policy. 2. ...
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Great-West Life, Canada Life, and London Life Are Becoming Canada Life

Great-West Life plus Canada Life plus London Life = The “New” Canada Life This month marks a memorable event in the Canadian life insurance landscape. Three companies that have been operating under different brands have become one brand. We decided to show in pictures a look at what is happening. All three brands—Great-West Life Assurance, Canada Life, and London life—are merging into one brand: Canada Life. This will lead to the creation of a Canadian life insurance brand that engages ...
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Health Insurance Benefits for Small Businesses

Health Insurance Benefits for Small Businesses – How to Choose the Right Plan

There are so many components that make running a small business difficult and searching for the right benefits package can certainly add to them. Luckily, with the assistance of a licensed advisor who actively serves the employers who are looking for group benefits, the task can be manageable and achieved with success. The options available to small businesses are: Traditional Group Plans: these are the regular plans that most large employers provide. These have a ...
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Disability Insurance: Everything You Must Know

Scary disability statistics: What you must know Unfortunately, accidents happen. Aside from pain, suffering, and possible limitations, a disability may result in financial difficulties because you may be not able to do your job and earn income. Consider the following scary statistics: As per Statistics Canada, 20% of Canadians aged 15 years and over (1 out of 5 or 6.2 million) have had at least one disability in 2017 At least 24% of female Canadians and 20% of male Canadians have at ...
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