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Mike Castagna | Consultant, J.W. Larmond Life Insurance and Benefits

Mike Castagna Consultant,J.W. Larmond Life Insurance and Benefits 1. What type of disability insurance do you own? I own a professional series disability policy that is non-cancellable, payable to age 65, with a 90 day wait period. I also made sure to add the future income option and cost of living adjusted benefit riders to my policy as I am young and wanted to guarantee my future insurability if I have a change in health. 2. What factors did you consider when determining the ...
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Top 10 Life Insurance Trends

The life insurance industry needs a revolution which means an increase in non-traditional firms and a whole new way of thinking. While other companies have changed and evolved over the years, the insurance business has basically stood still. Technology has played a huge role in these changes, however insurance companies seem to have been left behind. The entire insurance industry is getting too old, including the advisors. According to Paul Tsourounis, Director, Agency Development GTA ...
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What to Consider When Getting Life Insurance

Life insurance is a great safety net for your family and an important part of financial planning, but where do you start? Understanding your insurance needs and buying the right policy for you can be tricky. This video was recorded in 2008, but the information is just as relevant and important today. Here are some things to consider when shopping for life insurance. Member of Assuris Look for a company that is part of Assuris, the non-profit organization responsible for ...
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accidental death insurance

Life Insurance with Accidental Death: Is it a Good Deal?

There is a new version of this article (summer/fall 2018) about Accidental Death and Dismemberment Insurance that explains in detail this insurance. It also compares costs of Accidental Death Insurance to other insurance types. Canadians are constantly bombarded with life insurance offers. Although having adequate coverage is important, many of these offers are for specialized insurance or add ons that you don't really need. Sun Life, Industrial Alliance and BMO Insurance all offer ...
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8 Most Common Reasons Your Life Insurance Application Will Be Declined

For some people, getting the life insurance coverage they need is not easy. Factors such as health conditions and lifestyle choices play an important role in determining whether or not a company sees you as a qualified candidate. Lying on your application to hide potentially damaging facts won't help. It might get you a great policy at prime rates, but when it comes down to filing a claim, the insurance company will discover the truth, and your claim will be denied. We reached out to ...
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Average Size Mortgage in Canada Compared to Other Countries

At the end of 2015, the total Canadian mortgage debt stood at $1,262 billion. That puts Canada's GDP well above other G8 countries. The vast majority of Canadians are typically responsible borrowers with a strong financial strategy. With job losses and huge increases in house prices, some people find they have overextended themselves. However, it is important to put this into the proper perspective. More than seventy percent of Canadian household debt is the mortgage on the family home. ...
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how nutritional supplements affect life insurance applications

10 Nutritional Supplements That Could Hurt Your Insurability

Before applying for a Life Insurance policy, it is the applicant’s responsibility to provide truthful and relevant information regarding his or her health conditions, lifestyle and financial status, which helps an insurance company properly evaluate whether the applicant is qualified for coverage and at what premium. As soon as the person applies for a policy, the insurance company runs their application through a strict underwriting process to confirm if that person is eligible to own a ...
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Lorne Marr Director of New Business Development at LSM Insurance

What The Financial Experts Own – Lorne Marr

Life Insurance Expert Lorne Marr Lorne Marr Director of New Business Development, LSM Insurance 1. What Type of Life Insurance do you own? I own two 20 Pay and one 10 Pay Whole Life policies and a Term policy. I was lucky enough to take out the Limited Pay Whole Life policies when I was quite young. Since that time premiums on these type of plans have significantly risen it cost. Plus I'm a lot older now :) My Father also took out a small Participating Whole Life policy with ...
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Life Changing Events That Trigger a Need For Life Insurance

There are dozens of reasons why someone would need life insurance protection. Most of the events that would trigger a life insurance need are life changing events that have a major impact on one's finances. Check out the reasons why you need coverage if you experience one of these life changing events. Getting Married Once two people get married, or are considered common-law, they automatically assume certain financial rights and obligations towards one another that otherwise would not ...
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What The Financial Experts Own – Promod Sharma

Promod Sharma Actuary, Taxevity Insurance Advisory 1. What Type of Life Insurance do you own? I’ve developed insurance products for various companies and prefer designs with flexibility, accountability and transparency. I have universal life insurance for estate planning and term life insurance for temporary needs. I’ve avoided whole life insurance because the plans are opaque and transfer risks to the buyers. 2. What factors did you consider when determining the ...
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