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Life insurance traps to avoid

25 Life Insurance Traps To Avoid

Getting life insurance is important, however it can be tricky. There a few traps some people fall into. As with any contract, always pay close attention to the fine print! That tiny font could have a serious impact on your life – and the life of your loved ones. A little common sense and careful planning can help you avoid making mistakes with your life insurance and ensure your family is properly protected.Watch out for the following fine print “traps.” Trap #1 Pre-existing Medical ...
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We’ve Got The Answers: Which is the Best Life Insurance Company in Canada?

Today's Question: Which is the best life insurance company in Canada? This is quite a loaded questions, like most of the questions I get and there are many different components to the answer. Choosing which company you want to purchase your insurance from is similar to choosing your policy. There are a plethora of factors that will play a role in determining which company will best suit you. Certain companies will benefit certain individuals and needs more so than others. It ...
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We’ve Got The Answers: Is Life Insurance Worth the Money?

Today's Question: Is life insurance worth the money? Like many intangible purchases, many people question whether or not life insurance is worth the money. A lot of people question if it is really necessary at all. Determining whether or not life insurance is worth your money depends on your individual needs and lifestyle. If an individual is single with no dependents, and no current need for life insurance, it's likely not going to be worth the money (unless you want to leave money ...
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Charitable Giving with Life Insurance

As we approach and enter retirement, planning our legacy becomes more pressing. Philanthropy becomes more important. The biggest gift we can give is our time, with money as a close second. When we’re gone, we can’t give charities our assistance in person but we can still leave them a lot of support through life insurance. Why Life Insurance? There are 6 major reasons to use life insurance for charitable giving: 1. Leverage: small insurance premiums buy a large death benefits, ...
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We’ve Got The Answers: How Does Depression Impact My Premium?

Today's Question: How does depression impact my life insurance premium? Depression can definitely have an impact on your life insurance premium depending on the severity of the depression. If it is your standard depression that is well controlled, things are stable (i.e. medications), and you have not been hospitalized in the past 10 years, there is a good chance you could qualify for standard rates. On the other hand, if an individual has bipolar depression or other more serious ...
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Healthy Eating in the Office

It's no surprise that healthy, clean eating has a massive impact on your overall health, but does it impact your work as well? Believe it or not, healthy eating does play a large role in productivity. A study done in 2012 conducted with about 20,000 employees found that those who ate an unhealthy diet were per cent more likely to report productivity loss. How exactly does this work? Diet has an effect on your cognitive performance. Nutrients such as carbohydrates, glucose, and protein ...
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Today’s Question: How Can I Cut My Life Insurance Rates?

Today's Question: How can I cut my life insurance rates? You might be wondering why I have a cut softball in my hand and I am proud to say, I am the cause of the state this softball is in. This softball hit the top of the fence and got sliced in half on its way over. Now, I am no Roy Hobbs, but it certainly was an impressive moment for me and it made me think about a question that came in on how you can cut your life insurance rates. A great way to cut your insurance rates if you are ...
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Mortgage Balances on the Rise

Mortgage Balances on the Rise: How Best to Protect Yourself

In a recent report from TransUnion Canada, the average amount Canadians owe in mortgage debt is up by nearly five per cent, even though real estate sales have declined. The average balance for new-mortgages during the first quarter of 2017 was approximately $280,093, up 8% from the same period a year ago. The increase in mortgage amounts is mainly due to rising house prices. According to TransUnion research director Matt Fabian, despite increasing balances consumers have been able to ...
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Mike Aziz Insurance Agent

What The Financial Experts Own – Mike Aziz

Mike Aziz Senior Vice President of Sales,Canada Protection Plan Michael’s career spans over 20 years in the financial services industry including investments, life insurance and living benefits. Prior to joining Canada Protection Plan, Michael spent 15 years at a large Canadian insurance company working in various roles, including Regional Vice President, Wealth Management and Insurance where he lead national teams of Regional Sales Directors who consistently exceeded their ...
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Is Whole Life Insurance Right for You – What You Must Know

Whole life insurance is a great option for some people, but it may not be the right choice for everyone. Some people believe the advantages far outweigh the disadvantages, while others believe just the opposite. What is whole life insurance? It is a life insurance policy that insures you as long as you live. It is both a life insurance and savings product - this policy accumulates value that you can get, either when you surrender policy (i.e. end the policy) or if you decide to borrow ...
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