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10 Must-Know Red Flags Your Insurer Looks for When You Apply for Life Insurance

This publication is based on a past Chantal Marr’s interview with Sheryl Smolkin for Toronto Star. As you might know, there are three ways to get life insurance. The first is traditional life insurance, which requires a medical exam and a lengthy application. The second is designed for applicants that may not pass a medical, or that want to avoid an exam and/or want a short and easy application. It’s called simplified issue insurance. The third type, guaranteed issue, is for people with ...
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What Group Benefits Will Keep Millennials Healthy and Happy?

Introduction: I get it, Group benefits is often boring and downright confusing! It is like going to a buffet for the first time…..where do you start? In a world of so many choices, group benefits are no different with even the “one size fits all” cookie cutter plans having different plan designs. With many variables, the typical Millennial needs to keep it simple when researching and look for the following: What are the various coverages offered? (Dental, Prescription Drugs, Vision ...
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Critical Illness – LSM Insurance Advisor Examines Critical Illness Loophole

LSM Insurance advisor Andrew Burdi discussed three little known Critical Illness Insurance Loopholes. 1. Guaranteed renewable policies versus non-cancelable coverage. There are an increasing number of Critical Illness providers in Canada who offer guaranteed renewable Critical Illness coverage. These policies differ from non-cancelable policies in that the premiums may be adjusted on a class line basis. Non-cancelable policies offer guaranteed premiums for the life of the policy. 2. ...
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Great-West Life, Canada Life, and London Life Are Becoming Canada Life

Great-West Life plus Canada Life plus London Life = The “New” Canada Life This month marks a memorable event in the Canadian life insurance landscape. Three companies that have been operating under different brands have become one brand. We decided to show in pictures a look at what is happening. All three brands—Great-West Life Assurance, Canada Life, and London life—are merging into one brand: Canada Life. This will lead to the creation of a Canadian life insurance brand that engages ...
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Health Insurance Benefits for Small Businesses

Health Insurance Benefits for Small Businesses – How to Choose the Right Plan

There are so many components that make running a small business difficult and searching for the right benefits package can certainly add to them. Luckily, with the assistance of a licensed advisor who actively serves the employers who are looking for group benefits, the task can be manageable and achieved with success. The options available to small businesses are: Traditional Group Plans: these are the regular plans that most large employers provide. These have a ...
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Disability Insurance: Everything You Must Know

Scary disability statistics: What you must know Unfortunately, accidents happen. Aside from pain, suffering, and possible limitations, a disability may result in financial difficulties because you may be not able to do your job and earn income. Consider the following scary statistics: As per Statistics Canada, 20% of Canadians aged 15 years and over (1 out of 5 or 6.2 million) have had at least one disability in 2017 At least 24% of female Canadians and 20% of male Canadians have at ...
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Life Insurance and Marijuana: How do Insurers Treat Edibles and Smoking?

Recent Marijuana Changes Make Insurers Scratch Their Heads! When marijuana laws changed in Canada last year, it had a ripple effect through several industries, including life insurance underwriting. Insurers had to come up with a solution for how to cover customers who are marijuana users. To achieve this solution, insurers researched the following: Are all marijuana users the same? How much risk does marijuana represent from the insurer’s perspective when compared to traditional ...
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Legalization of Marijuana and Group Insurance | Expert View

The “bright, new, shiny object” these days is here and is here to stay. Medical marijuana/cannabis being offered by Group Insurance providers brings with it a host of concerns and unknowns. In my travels across Ontario this year so far it has been the most discussed topic. Here is a high-level (no pun intended … ha!) view of some basic knowledge and points to ponder when thinking about marijuana and group insurance: How has the legalization of marijuana impacted Canada’s group ...
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The Pros and Cons of Equitable Life Group Insurance

Since 1920, Equitable Life has been located in Waterloo Ontario with regional service teams across Canada providing personalized service and support. I personally started dealing with their group department in 1998. In those days they were always the best fit for the Trucking Industry and I would always have them on my short list to gather pricing and solutions for my clients. These days they service many industries and can certainly compete against the best in the business from plan ...
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Critical Illness Insurance: Should You Get It from a Bank? Before you Decide, Read This Heartbreaking Story

There are some insurance products where the devil is in details. One such product is critical illness insurance. We are focusing on this today given its recent media publicity. The sad critical illness story of Bianca Williams (Story abridged from a Global News article) Bianca Williams needs chemotherapy, radiation and a bone marrow transplant, but TD Bank insurance has denied her critical insurance claim. “We thought at least with this coverage, we’d be able to provide for our family,” ...
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