LSM Insurance in Media outlets

What steps do you take when you inherit old universal life policies?

Universal life insurance (UL) plans can be the most difficult plans to illustrate, primarily due to the vast amount of complex options for clients. Richard Parkinson explores different options for Forum Magazine.
Read more

Life Insurance Companies Have Stopped Categorizing Marijuana Users as ‘Smokers’

Joan Weir, the director of health and disability policy for the Canadian Life and Health Insurance Association, told the CBC that many companies are no longer penalizing light users and “have moved to a model whereby as long as it was two or less per week then you would not be a smoker.” Insurance broker...
Read more

Ask an Insurance Actuary: Cannabis is Healthier Than Tobacco

It should not surprise that, a few months before cannabis legalization means marijuana sold openly in stores, life-insurance companies in Canada have finally deduced that marijuana is not nearly as damaging to one’s health as tobacco. For a long time, marijuana smokers could expect to pay the same as cigarette users. This doesn’t mean that...

Canadian Life Insurance Companies Stop Categorizing Pot Users as ‘Smokers’

Life insurance companies in Canada are becoming more accepting of cannabis, and many firms have stopped categorizing pot users as smokers. According to an insurance broker Lorne Marr, the changes were made in anticipation of the legalization of cannabis in Canada. Marr noted that the new standards are still evolving, but some cannabis users are...
Read more

For life insurers, cannabis is no longer as “high-risk” as tobacco

Anticipating the legalization of cannabis later this year, some of the country’s major life insurance companies are updating their policies to better serve customers. Now, even life insurers are rushing to adapt to mainstream marijuana acceptance. Lorne Marr had recently surveyed nearly every life insurance provider in Canada and found that most of them have...
Read more

Life insurance companies no longer treating marijuana use as high risk as tobacco

Some of Canada’s biggest insurance companies have updated their policies on marijuana use, and the changes are having a major impact on regular users’ premiums. While the reassessment of risk factors is notable, Lorne Marr says it’s not as if insurers suddenly don’t care about drug use. The health impacts of marijuana are varied, but...
Read more

CBC Ontario Today Podcast: Is Four-Day Work Week Right for Everyone?

An experiment was conducted in different companies from North America and New Zealand, where employees worked for four days a week instead of five. The majority of workers, especially the ones with children, welcomed the idea, even if it meant working 10 hours a day. Lorne Marr together with HR managers and CEOs from the...

Pattie Lovett-Reid: The financial product you need to protect your loved ones

Insurance can be a touchy subject because no one likes to think about their own demise. But what if you think about it this way – insurance isn’t about you, it’s about the people you care about most. The challenge that many face is that no one thinks something could happen to them. They are...
Read more

82-year-old great-grandmother takes on BMO for suspect life insurance advice

Beck bought her life insurance policy in 2007, at age 71. When Beck called the bank last month to get an update, she was surprised to learn that she had already paid $3,780 into her $3,200 policy — $580 more than it’s worth. This didn’t sound appealing to Beck. She inquired about cancelling, and says...
Read more