Life Insurance Canada News:

Latest posts

Life Insurance for Business Owners

Business owners can use life insurance to their advantage. There are approximately 2,550,000 businesses registered in Canada, according to Trading Economics,and approximately 1.2 million of them are small businesses (businesses with at least one salaried employee), says StartUp Canada. Small business owners have very different needs when it comes to life insurance than salaried employees. Here are just some of their specific needs: 1) They are unlikely to have group life ...
Continue reading

Sun Life Makes it Easier to Qualify for its Term Life Insurance Products

As of June 24, 2013, Sun Life Financial has announced that there will be fewer medical requirements necessary to qualify for its term life insurance products and that it will be lowering the premiums on these products. For all of its life insurance products, Sun Life is removing vitals and lab requirements for face amounts under $500,000 and for those clients aged 40 and younger. In addition, the premiums will be reduced for Sun Life's SunTerm 10 and SunTerm 20 products, so clients can ...
Continue reading
bottle-of-scattered-pills

How to Cut Your Stroke Risk and Save on Life Insurance

Cut back on stroke meds by changing your lifestyle The Heart and Stroke Foundation reports that Strokes are the third leading cause of death in Canada, with 14,000 Canadians dying every year, and of those more are women than men. The most common type of stroke is an ischemic stroke, which takes place thanks to a blood clot in a vessel supplying blood to the brain. If you manage to survive the stroke's devastating paralyzing effects, recovery is guaranteed to be a tough ...
Continue reading

Group Insurance in Canada: Top 6 Carriers

Canada's top group insurance providers can help your employees. Statistics Canada says that almost three-quarters of all Canadian workers (74 per cent) have access to at least one non-wage benefit. Health benefits plans are the most common type of non-wage benefit in Canada. Fifty-nine percent of workers have life and disability insurance, 56 per cent have dental plans, and 51 per cent have supplemental medical insurance. The following are the group plans available from the top six ...
Continue reading

Maximizing Your Group Insurance Coverage with Cost Plus

All group insurance plans have limitations, but the question becomes how do you make the most of your benefit dollars and maximize the value you provide to your employees, while providing the most cost-effective solution for you as an employer? Toronto Group Insurance broker Joel Cadesky believes Cost Plus can provide an effective solution. Let's look at a traditional group insurance plan, which can have limitations on certain benefits, such as paramedical services, which may be capped ...
Continue reading

Critical Illness Premiums on the Rise

Critical Illness insurance rates have increased significantly in recent months. Many carriers have raised the rates up to 30 per cent. Most of the increase has been in the permanent critical illness market, and this is being fuelled by historically low interest rates. Current interest rates are at 1 per cent, according to Trader Economics, which reports, "Historically, from 1990 until 2013, Canada's Interest Rate averaged 6% reaching an all time high of 16%," so this is a huge drop. ...
Continue reading

Term Life Insurance Rates have Gone Down

Term life insurance rates have gone down by as much as 30 per cent in the last decade. This is good news for consumers, but further decreases are unlikely. The reason is that historically low interest rates are starting to pressure insurance companies' profitability. We explain the reason term life insurance has decreased over the last ten years below. (more…)
Continue reading

Disability Insurance: How Does the Future Income Option Work?

Disability insurance is available to young entrepreneurs without a medical exam. Disability insurance along with life insurance forms the foundation of a solid financial plan. But what about young entrepreneurs? In 2012, more than half a million people told CIBC that they had started their own business in a poll. According to theToronto Star,researchers at the Organization for Economic Cooperation and Development found that among all new enterprises that survived after three years, ...
Continue reading

BMO Insurance has Competitive Term 20 Rates

BMO Insurance offers competitive rates for its Term 20 life insurance plans. A male non-smoker who's 40 years old can receive $250,000 Term 20 policy for only $33.98 per month. He can also get $250,000 in Term 20 with an additional $50,000 critical illness rider for only $64.98. The premiums on the policy are guaranteed and renewable until age 85. The policy is also convertible to a permanent plan any time before age 70. Preferred rates are available for coverage amounts as low as ...
Continue reading

Insurance Solutions for Unhealthy Young People

According to CBC, "Between 1994 and 2005, rates of high blood pressure among Canadians skyrocketed by 77 per cent, while diabetes rose by 45 per cent and obesity by 18 per cent." Further, "More than 250,000 Canadians in their 20s and 30s had high blood pressure, making them the newest at-risk group." Plus, The Childhood Obesity Foundation of Canada reports the following: "There has also been a dramatic increase in unhealthy weights in children. In 1978, only 15% of children were ...
Continue reading