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We’ve Got The Answers: Why Have My Life Insurance Rates Tripled?

We’ve Got The Answers: Why Have My Life Insurance Rates Tripled?

Today's Question: My Life Insurance rates have tripled; why is that? When initially taking out your policy, you are typically choosing between a term policy or a permanent policy. A major difference between the two types of policies centres around the premiums- how much you will be paying initially and how level your premiums stay throughout the duration of your policy. With that being said, how does this correlate to a substantial increase in rates? There is a good chance you have a ...
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We’ve Got The Answers: How Does Life Insurance Work?

We’ve Got The Answers: How Does Life Insurance Work?

Today's Question: I don't understand Life Insurance, how does it work? Life Insurance is one of those things that you have to really educate yourself on prior to purchasing it. There are a plethora of factors that contribute to the type of policy that benefits you, so it is important to know the ins and outs of all the various policies so you can make an informed and confident decision. What does Life Insurance do exactly? It pays out when the policy holder passes away. This can ...
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Stay Fit, Save Money, and Cheer On The Jays!

Stay Fit, Save Money, and Cheer On The Jays!

Today's Question: How can I save money on my Life Insurance? I thought I would take a slightly different slant with answering today's question. If you know me, you know I am a big Blue Jays fan. So I thought I would give you an idea on how you can save money on your Life Insurance while you are enjoying the Jay game and be a little healthier in the process. The Rogers Centre is home to the Blue Jays, but it is also home to an abundance of greasy, fattening food. Everything from nachos ...
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Today’s Question: Can I Convert my Term Life Insurance?

Today’s Question: Can I Convert my Term Life Insurance?

Today's Question: Can I convert my Term Life Insurance? While Term Life Insurance in generally inexpensive at a young age, premiums go up as one ages. One may consider converting their Term Insurance do to this or any other reason, but is it possible to do so? The ability to convert your Term Life Insurance really depends on the policy. You have to check the wording of the policy to verify if your plan is convertible, meaning you can convert without a medical from your current ...
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We’ve Got The Answers: Why Should Millennials Consider Life Insurance?

We’ve Got The Answers: Why Should Millennials Consider Life Insurance?

Today's Question comes to us from a Millennial- why should I consider Life Insurance? There is a large stigma surrounding millennials and finances, so it is safe to assume that with the amount of financial responsibilities they face, Life Insurance may not have been in the picture. Now, I am not a millennial, but I can take a stab at the question and provide an answer based on what I have seen from a plethora of clientele. Life Insurance is going to pay off if the ...
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Lupus Ontario and LSM Insurance Pair Up for the 4th Annual Lupus Bowl

Lupus Ontario and LSM Insurance Pair Up for the 4th Annual Lupus Bowl

Lupus Ontario and LSM Insurance team up together for the 4th Annual Lupus Bowl on Friday, June 16th 2017.The event starts at 7:00 p.m. with the venue at Bowlerama on 5837 Yonge Street in North York, Ontario. This year, Lupus Bowl offers fabulous prizes for both individual and team based accomplishments. An individual prize is available to anyone who might be able to bowl three strikes in a row aka a Turkey. A prize will also be granted to the person who is able to bowl the ...
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What The Financial Experts Own – Shawn Bellefeuille

What The Financial Experts Own – Shawn Bellefeuille

Shawn Bellefeuille Certified Financial Planner,DFSIN Ottawa Financial Centre 1. What Type of Life Insurance do you own? I own some permanent insurance for final expenses and money to help my estate pay taxes upon my death as well as a large term insurance policy as I still have you children who depend on my income. 2. What factors did you consider when determining the coverage amount? You need to do a proper needs analysis and make sure that ...
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Life Insurance Questions- Is Life Insurance a Scam?

Life Insurance Questions- Is Life Insurance a Scam?

Today's Question: Is Life Insurance a Scam? I have actually been asked this question quite a few times over the years and it has a bit of a negative connotation to it. To those who have never really researched Life Insurance, it is easy to see why they may have some reservations. Life Insurance is something that an individual must really learn about in order to obtain knowledge of all its benefits. Let's take a look at it and dive into the details. Life Insurance pays ...
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We’ve Got The Answers- What Makes Life Insurance such a Unique Product?

We’ve Got The Answers- What Makes Life Insurance such a Unique Product?

Today's Question: What makes Life Insurance such a unique product? One of the really great things about Life Insurance is that it allows you to buy future dollars for pennies on the dollar. This is a concept that was brought forth from the great, Ben Feldman. He helped people understand that it is possible to get future money (tax free dollars) down the road, for pennies on the dollar. There are a lot of different policies you can set this up with. For example, you can set it up with ...
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We’ve Got The Answers- How Does the Guaranteed Renewability Feature Work?

Today's Question: How does the Guaranteed Renewability Feature work on my Life Insurance Policy? Mike Castagna, Consultant at J.W. Larmond Life Insurance and Benefits, joins LSM Insurance to brief us on the Guaranteed Renewability Feature. The Guaranteed Renewability Feature is a feature on your policy that allows you to renew the policy at the end of the term for a new term, without providing any medical history. For example, on a Term 10 policy, at the end of the ten ...
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