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We’ve Got The Answers: I am Overweight; Can I Qualify for Life Insurance?

Today's Question: I am overweight; can I qualify for Life Insurance? The short answer is yes, you can qualify for Life Insurance. The long answer is, you have to find a plan what best suits your current situation. You must determine if a fully underwritten plan, where they do a full series of questions and some medical tests is a good route, or if a simplified issue plan, where there is still a full series of questions, but no medical tests is a good route. With a fully underwritten ...
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life insurance bargain

Why Life Insurance is a Bargain

The cost of living drains every penny we have. The average Canadian lives from pay cheque-to-cheque. When striving to make ends meet, the added expense of life insurance premiums seems like a luxury we can do without. The truth is, life insurance is not a luxury, it is a necessity and the potential cost of not buying insurance can be devastating. Sometimes we get so focused on putting out the immediate fire that we forget about the embers that may be ready to spark in an another area. We ...
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life insurance genetic testing

How Should Advisors Handle Genetic Tests in Wake of New Law?

In Wake of the new Genetic Non-Discrimination Act, Sun Life Financial sent a message guiding financial advisors on how to proceed. This message was recently posted in the Insurance & Investment Journal. After years of debates and negotiations, the new law prohibiting anyone from requesting the results of genetic tests or to undergo genetic testing, is now in force. Anyone not abiding by this law could face severe consequences such as up to five years in prison and $1,000,000 in ...
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life insurance reality

The Perception of Life Insurance Vs Reality

As strong believers in the importance of protecting the future of your family, we are quite concerned about some of the perceptions many clients have of our industry. These perceptions may impede the growth of our industry, but worse, leave many families unprotected. Life insurance conversations can be tough. Most people don't want to think about it, but it is an important conversation everyone must have at some point. Misconceptions about life insurance makes the conversation even more ...
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We’ve Got The Answers: Does Life Insurance Pay Out in the Event of Suicide?

Today's Question: Does a life insurance policy pay out in the event of suicide? Suicide is certainly a tragic event that sadly, affects a plethora of people. It is not something the majority of individuals take into consideration when taking out a life insurance policy, but because it is something that happens, it is important to know how it affects the policies pay out. Most life insurance policies have a two year suicide provision and incontestability provision. This means, if an ...
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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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Factors That Impact Your Life Insurance Premiums

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? 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 Term ...
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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 person passes ...
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