Life Insurance for Children:

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Assumption Life Youth Plus

Assumption Life recently introduced Youth Plus. It is a term life insurance product designed for children. The policy is available to insure children between 15 days old and 17 years of age. The features on the policy include the following: 1. Term life insurance until the child has turned 25 2. Guaranteed sum insured payable upon death 3. Non-participating insurance (no dividend is payable) 4. Guaranteed level premiums, which means the premiums remain the same for the duration of ...
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Empire Life’s Insurance Policies

Empire Life offers renewable and convertible Term policies as well as Non-Participating Whole Life policies and Universal Life plans. Empire life's Term 10 and Term 20 policies are convertible to age 75 and renewable to age 100. Both of these features are unique to the industry because most insurance companies offer conversion options to age 65 on their Term 10 and Term 20 policies. In addition, Empire’s Term plan can be converted without a medical to their Term 100, 20-Pay ...
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Insurance Policy Claims: The Necessary Steps

So something has happened to you or your family, but thank goodness, you have insurance, and now it's time to file a claim. But how is that done exactly? What do you need to do to prepare?Don't stress! We'll show you... Life Insurance Policies Filling out paperwork is the last thing you want to do when you lose a loved one who has named you his or her life insurance beneficiary, which is why we at LSM Insurance try to make the paperwork as painless as possible. Still, here are the ...
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Ask Our Experts Your Life Insurance Questions

LSM Insurance has been providing life insurance solutions to Canadians for just under 20 years. Our team of experts helps unravel the mystery of life insurance and answer questions like the following: How much life insurance do you need? What is the best type of life insurance plan? Which life insurance company has the the best rates? Will my occupation effect my premium? How much more will I pay because I smoke and how long do I have to quit smoking to get a ...
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Life insurance Riders: Facts to Consider

Most life insurance companies in Canada allow the insured to add riders to their life insurance policies. Adding a rider to a policy versus taking out a separate policy can mean substantial savings for the insured. The reason for this is that life insurance policies have a built-in policy fee that covers the administration of the policy. This fee is hidden to the consumer because it is built into the premium, but it is nonetheless secretly added to each and every policy in Canada. ...
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Analysis of Canada Life Universal Life Rate Increase

Canada Life increased rates on its Universal Life Level Cost of Insurance, and Limited Cost of Insurance policies, as of February 7, 2011. The increases followed rate hikes by Manulife, Industrial Alliance, and Equitable Life. Many Canadian insurers have had to re-evaluate the pricing of their Universal Life policies as a result of continually, historically low interest rates. As a result, clients will see the following changes: (more…)
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RBC Insurance’s Universal Life Children’s Term Rider

RBC Insurance's Universal Life policy is available with a level or increased cost of insurance. Both versions have a Children's Term Rider, which is available to children ages 14 days to 20 years. Benefit amounts are $5,000 to $30,000 per child. The premium for the rider does not change when additional children are added. It's the same price whether one or a dozen children are added. (more…)
Continue reading Buying child life insurance

Eileen McGeough bought life insurance for her two children after her neighbour's teenage son was killed in a car accident almost 20 years ago. The sudden death and watching the family struggle in the aftermath left McGeough feeling vulnerable. At the time, the young mother knew she wouldn't have the money on hand to bury one of her own children. For $15 a month per child, life insurance gave her some peace of mind. "You don't think about these things until something happens," says ...
Continue reading Student accident insurance

May Alexander knows all about kids and accidents. As mom to two active boys, ages five and seven, she's seen her fair share of bumps and bruises. Those she can handle, but it's the big things - major accidents or injuries - that scare her: first and foremost the horror of her children getting hurt, but also how she'd cover the cost of everything from rehabilitation to prosthetics. As a result, this Toronto mother invests in accident insurance ... just in case. "Anything that says ...
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BMO’s Children’s Life Insurance Plan

BMO Insurance offers a children's life insurance plan sold directly via its call center and not its broker network. The plan is called the “Headstart in Life Plan.” (more…)
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