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Seniors-Life-Insurance-Tips

The Ins and Outs of Whole Life Insurance

Did you know that if you choose participating whole life insurance plan, the annual dividend is not guaranteed? Why should you request an updated policy illustration? What are the dividend options available? These are just some of the questions I tried to answer in the latest addition to our Life Insurance Tips section. You probably know that whole life insurance provides coverage for the policyholder's entire life. If you want to learn more about this particular policy, read ...
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Whole Life or Universal Life?

Many of my clients ask me about the difference between Whole Life and Universal Life insurance policies. As it is not easy to answer if the former or the latter is the best option, I have written an article on comparison of both policies. You can read it and decide for yourself if it's going to be Whole Life or Universal Life for you. For more articles be sure to visit my life insurance tips page.
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Life insurance industry commends the federal budget

The Canadian Life and Health Insurance Association (CLHIA) commends the federal government and Minister Flaherty for the 2008 Federal Budget. "We welcome and support the continued fiscal prudence demonstrated by the Government of Canada," reads CLHIA's statement. "In particular, we welcome the new Tax-Free Savings Account initiative. The life and health insurance industry looks forward to helping Canadians use this vehicle to invest in their future," said CLHIA President Frank Swedlove.
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Assumption Life’s Term Plus – next to no minuses

Assumption Life, which employs both a captive and independent sales network, has some unique term policies. Most notable is their Term Plus plan, which is available for individuals aged 18 to 65, and for face amounts from $50,000 to $2,000,000. There are no medical exams on amounts under $250,000, and the premiums on the life and disability portion are guaranteed not to increase for the length of the term. The real strength of this plan lies in its flexibility; the insured can choose ...
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Referrals – a matter of sincerity and honesty

Many successful businesses are built upon referrals and the life insurance business is no exception. There are many effective methods, which when properly implemented are guaranteed to supercharge the referral results of life insurance brokers. In my latest guide, I will share some of my unique strategies for referral building – these strategies took me many years to perfect. This is just another addition my existing collection of articles written on how to be a better life insurance broker.
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ACA’s Term 28 – a contemporary convertible

ACA Assurance’s Term 28 product is a very unique program. The plan provides for a level premium to age 28, and the coverage is convertible to a permanent plan. This plan is an affordable solution for students and parents and/or grandparents who want to set up a life insurance plan for a child. The ACA Web site suggests it’s a good program for young workers; but in my estimation, it offers little value for a young adult in their 20s. They would be much better going with a ...
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Great savings with Great-West Life

In 2003, Great-West Life Assurance Company acquired Canada Life Assurance Company. The transaction brought together three of the largest insurance companies under one financial roof — Canada Life, Great-West Life and London Life Insurance Company. Great-West Life’s Universal Life plan allows the choice of multiple Costs of Insurance (COI) options, including an increasing COI which allows the applicant to focus on cash accumulation in the early policy years. There is also a ...
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AIG is now BMO:AIG Life can be a great fit

AIG Life has three separate universal life programs with over 400 investment options—so when you go shopping, you’d better pick a broker who knows his/her stuff. AIG’s Life Provider plan is available from birth to age 50, and at face amounts from $25,000 to $500,000. The lower face amounts are great for parents who want to set up a low-cost level rate insurance policy for their children. Larger policy amounts are available under the Life Dimension or Life Dimension ...
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Life insurance companies post solid profits

Canada's life insurance companies are bracing for a slowdown in the U.S. economy, but their executives say they are also hoping to benefit from any shake-out due to tough market conditions, the Financial Post reported. Sun Life Financial Inc. and Manulife Financial Corp. reported solid fourth-quarter profits Thursday despite difficult debt and equity markets, as well as the impact of the stronger Canadian dollar. According to the Financial Post, Sun Life said quarterly earnings rose 1.8% ...
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First online 2008 Canadian income tax calculator released

NEWS RELEASE MARKHAM, Ontario (CA), February 13, 2008 - The first online 2008 Canadian Income Tax Calculator was released today. This tool incorporates all tax rates for all 13 provinces of Canada. “Being a certified financial planner myself, I know just how important this tool can be for the general public,” says Lorne S. Marr, President of Lorne S. Marr (LSM) Insurance Services Ltd. The LSM insurance team is behind the creation of the first online income tax calculator for all ...
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