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Mortgage Insurance Pitfalls

If you're an avid reader of the LSM Insurance blog, you know we're not fans of Mortgage Insurance and neither, it turns out, is the Toronto Star's personal finance columnist, Ellen Roseman. In a recent article titled "Mortgage Insurance Policies May Not Cover Claims," she highlighted the danger of post-claim underwriting. This is when the policyholder has filled out their application and has been diligently paying their monthly premiums, but when they die suddenly, their family discovers ...
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Top 10 Canadian Life Insurance Companies 2014

Last year, based on findings from The Globe and Mail, LSM Insurance ranked the Top 10 Life Insurance Companies by revenue. Now, thanks to the efforts of Financial Post Business Magazine in June 2014, LSM Insurance is releasing its list of The Top 10 Life Insurance Companies for 2014. Not much has changed from last year. Great West-Life Co. still has the top spot, followed by Manulife Financial, Sun Life, and Industrial Alliance in the top four. A slight movement has happened in the ...
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Mark-Seed

Mark Seed | Editor of My Own Advisor Blog

Mark Seed Editor, My Own Advisor Blog 1. What type of disability insurance do you own? Through my employer, I am fortunate to be covered for the following: • Basic life insurance • Long-term disability coverage • Business accident travel insurance (more…)
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Canadians Aren’t Confident They Have Enough Life Insurance

Most Canadians don't really understand life insurance. It's no secret that the majority of Canadians don't really understand life insurance. And now there's a survey to confirm that trend. BMO Insurance released a poll in mid-july 2014, showing that88% of Canadians are not very familiar with the different types of life insurance. In addition,while 74% of those Canadians polled have some type of insurance either through their employer or personal policies, 70% of those ...
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What is Right About The Life Insurance Industry

The life insurance industry looks bright. The potential that a man first saw in an untapped colony is now a fundamental part of many Canadians' financial planning. Canadian life insurance, which promises security and stability, has evolved from its humble beginnings to become one of the biggest investors in the Canadian economy. Hugh C. Baker was the founder of Canada's first life insurance company, Canada Life Assurance Company, in 1846. Out of the desire to create stability for his ...
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Lorne Marr Interviewed in The Pulse With Devon Peacock

Lorne Marr, Director of New Business Development at LSM Insurance, was interviewed in The Pulse with Devon Peacock that is broadcast on AM980 every workday. Devon Peacock and Lorne Marr discuss the concept of a four-day workweek that LSM Insurance established in 2009. In the interview, Marr explains the advantages of the four-day workweek and the positive impact it's had on his employees' morale and productivity. If you want to read more about the four-day workweek, you can read ...
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Chantal Marr on Life Insurance For Children in the Financial Post

Chantal Marr, President of LSM Insurance, was quoted in the July 26 Financial Post article by Melissa Leong titled "Should you buy life insurance for your kid?" Read on to discover what Chantal and two other experts have to say about life insurance for children. When it comes to money decisions, it can be hard to figure out the right thing to do. Money is about power, emotion, morality, and security, among other things. So in this space, we gather personal finance luminaries to weigh in ...
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Assumption Life’s New Critical Illness Plan

Assumption Life now offers critical illness coverage. Assumption Life is finally offering critical illness insurance through their new Critical Protection plan. The policy is simplified, so there are no medical exams and the coverage is guaranteed as long as you can answer no to 14 simple questions about your health and coverage history. Besides, even if the answer is no for one of the questions, this does not mean you won't qualify for coverage. Your application will simply be looked ...
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The Dumbest Insurance Fraud Attempts Ever: #7

Man Filed Bogus Injury Claim But Continued to Wrestle Filing a fraudulent insurance claim is usually preceded by faking an injury. It requires careful planning as well as a certain level of acting skill and is not as easy as it might seem — unless you're a professional wrestler. This was the case of Michael "Mr. Motion" Taris, who made his living pretending to fall in a ring and was quite successful when he faked a slip-and-fall accident in a 7-Eleven store before filing an insurance ...
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Top 5 Most Asked Questions for Smokers

Are you a tobacco, cigar, or e-cigarette user who's curious to read what insurance companies have to say about insuring you? Well, look no further! We have some useful information on this topic. Or perhaps you don't smoke but know someone who does and is wondering why their premium is much higher than yours. Here at LSM Insurance, we have constructed an infographic answering basic questions in regards to obtaining life insurance for smokers. LM00LM
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