Life Insurance Canada News:

News from 2020

Why Is Life Insurance So Important? An Industry Perspective

A number of industry experts and thought leaders weigh in on why life insurance is so important. Click on the thought leader’s picture below to explore their perspective. Neil Paton Partner, President and Chief Executive Officer at The Edge Benefits Terri Botosan Chief Executive Officer of HUB Financial Inc. Doug Paul Vice President, National Sales and Distribution, SSQ Insurance Mike Aziz Chief Distribution Officer - Canada Protection Plan Tony Bosch Executive ...
Continue reading

Term 100 Life Insurance without a Medical Exam: What is This?

In today’s publication we discuss one of the newer products, Term to 100 without a medical exam. We’ll be using Humania’s Term to 100 without a medical as an example. What is Term to 100 life insurance? Term 100 is a permanent life insurance policy because it covers a lifetime without expiring. The premiums never increase. Unlike other permanent policies, however, Term 100 is known as “pure insurance.” There are no extras like the cash savings component you get with whole life or ...
Continue reading

Buy/Sell Agreements and Insurance: What You Must Know

What are buy/sell agreements? In a way, a business partnership can be compared to a marriage. It may help to think of a buy/sell agreement as a sort of "prenup” between business partners. The buy/sell agreement is a contingency plan that outlines the conditions under which a partner’s interest in the business will be bought out by the other partner(s), or the business itself. The most common event covered by a buy/sell agreement is the death of a partner, outlining the actions that are ...
Continue reading

Life Insurance in Canada and COVID-19: Industry Perspective

A number of industry experts and thought leaders weigh in on how COVID-19 is impacting the life insurance industry, and what can be expected in the future. Click on the thought leader’s picture below to explore their perspective. Terri Botosan Chief Executive Officer of HUB Financial Inc. Doug Paul Vice President, National Sales and Distribution, SSQ Insurance Mike Aziz Chief Distribution Officer - Canada Protection Plan Sébastien Dupuis President and CEO - ...
Continue reading

Immediate Financing Arrangement | Key Things to Know

Every business owner is familiar with the old saying, cash is king. When you have it on hand, cash provides stability and the capacity for growth when opportunities arise. Since cash is the lifeblood of any business, shareholders struggle when it isn’t close by. Frankly, many view the purchase of life insurance as a threat to that cash flow, even when an accountant recommends it. However, there is a way to have your cake and eat it too using an insurance strategy called the ...
Continue reading

Mortgage Insurance: Everything You Must Know

There have been many articles written about mortgage insurance vs life insurance, but many of them reflect only on particular aspects of this topic. In many cases, it is a lending institution (e.g. your bank or credit union) that offers mortgage insurance. We spoke to Amir Eny, an independent life insurance broker, to highlight key aspects of mortgage insurance provided by a lending institution and how it differs from life insurance. Life insurance vs mortgage insurance There are key ...
Continue reading

Whole Life Insurance and Taxes: Everything You Must Know

Whole life insurance has tax saving efficiencies, but those efficiencies are often very misunderstood. To gain an understanding on how best to leverage your savings in a tax-sheltered whole life insurance policy, we talked to Cory Budovitch, Owner of Budovitch Legacy Planners Inc. and Brent Swatuk, Advanced Case Consultant at Equitable Life. Both of these men are highly respected in Canada’s financial services industry and they love helping Canadian entrepreneurs minimize tax and maximize ...
Continue reading

Life Insurance and Estate Planning

While it’s true that you can’t take it with you when you die, you still need money when you pass away. Many people work hard their entire lives to build assets, with the intent to eventually pass on an inheritance to their loved ones. A will is a good starting point, provides a roadmap for planning your estate, and should be updated on an ongoing basis. However, even if you have a will, it is your executor’s responsibility to file a tax return for you and the government will consider you ...
Continue reading

Final Expense Insurance – Interview with Zale Goldstein

How long have you been in the industry and what made you get started? My father passed away unexpectedly in Chattanooga Tennessee while on his way to Florida. He took ill and was hospitalized. The next morning, I received a phone call at 5am and discovered he was on life support. Being a family of five children all with our own separate issues, it was then that I was introduced to the benefits of having a Final Expense Insurance policy in place for my family. It made a very expensive and ...
Continue reading

Why Now Is a Good Time to Buy Life Insurance?

Life Insurance has become a top of mind topic for many as people start to consider their own mortality. Dr. Moira Somers, a psychologist and executive coach at Money, Mind & Meaning in Winnipeg was recently quoted in the Globe and Mail saying “one way of settling death anxiety is by knowing that you’ve done everything you can to tend to people you care about; obtaining life insurance can help individuals exert that control." Taking aside the psychological component, now is an ideal ...
Continue reading