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Why Is Disability Insurance So Important?

LSM Insurance reached on to Jaclyn Nemethy - Regional Sales Director at IA Excellence to get her insights. Jaclyn is known for her thorough knowledge and providing her advisors with exceptional support and training on all the living benefits solutions IA Excellence can offer. She sits on the Advocis Toronto Chapter Board as a Director. She recently attained her CHS designation and is now working towards her CLU designation. Do you feel as if Canada's disability insurance market is ...
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What The Financial Experts Own – Peter Wouters

What type of life insurance do you own? Permanent participating; UL, T100 and some T10 in addition to optional group life insurance. What factors did you consider when determining coverage amount? Which ones may continue indefinitely? What is the best use of capital to pay off obligations and provide estate ...
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Today’s Question: Does Children’s Life Insurance Make Sense?

Today's Question: Does children's life insurance make sense? The short answer is, yes, it makes sense. I have three children and I have purchased a policy on each of them. My father also bought a policy for myself as well as my two brothers when we were younger. A big advantage to the policies that he purchased on us is that they were with Manulife at the time, which when the company demutualized, we qualified for a ...
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What Makes Canada Protection Plan Different – Q&A with Mike Liem

[caption id="attachment_14491" align="alignleft" width="368"] Mike Liem Regional Sales Director at Canada Protection Plan[/caption] Can you tell me a bit about your background? How did you get started in the insurance industry? I started in the financial industry over 20 years ago in banking at Scotiabank and CIBC. 8 years ago, I joined Desjardins Financial Securities ...
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We’ve Got The Answers: How Can Music Impact My Life Insurance?

Today’s Question: How can music impact my life insurance? I’m wearing a Sting shirt today from a recent concert I went to and it got me thinking about two things that I am really passionate about. The first is fitness and health. As many of you know, I started a website called FitAfter45 which focuses on staying fit and healthy as you get older. This leads me to the second thing I am very passionate about and that is ...
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Special Needs Financial Planning

Statistics of families with Special Needs Children/Adults According to Stats Canada 2006, 12.4% of the entire Canadian population are families that have Special Needs Children or Special Needs Adults. This translates to approximately 5.4 million Families in Canada. Discounting this number by 75%, we could extrapolate that in ...
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What The Financial Experts Own – Jonathan Jubida

What type of life insurance do you own? I own a combination of Limited Pay Whole Life Permanent Insurance, Term Insurance and Critical Illness Insurance. What factors did you consider when determining the coverage amount? Factors I considered when determining coverage included current outstanding debt, retirement plans as well as future expenses such as my ...
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We’ve Got The Answers: Should I Buy My Policy Direct?

Today's Question: Should I buy my policy direct? It's a good question and by direct, I am assuming you mean, "should I buy the policy directly from the carrier and bypass the broker?" A lot of people think they can save money doing this but the reality is, when you buy a policy directly through a company such as BMO or RBC, for example, they are essentially showing you just their one in-house product. When ...
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Good News For Former Smokers Applying For Life Insurance

Most insurance companies will offer non-smoker life insurance rates to people who quit smoking and have not used any tobacco products or tobacco substitutes for 12 months. Marijuana users can now also qualify for non-smoker rates. When the Canadian government decriminalized the use of marijuana for medicinal purposes, two major life insurance companies decided to treat marijuana users as non-smokers. This decision reverses a long-standing policy and allows these people to ...
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tfsa audit

Is Your TSFA Ripe for an Audit

A recent BMO survey revealed that Canadians contributed about $1000 less to their TFSAs in 2016 than they did the year before. The reason? They simply couldn't afford to save as much – 43% said they didn't have enough money, while 36% needed the money for other things. About 15% of the people polled didn't contribute to their TFSA at all. The amount a taxpayer can contribute per year is limited. In 2015, the limit was $10,000, but in 2016 it was only $5,500. However, the unused portion ...
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