Life Insurance for Women:

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Life Insurance and High Net-Worth Individuals

High net-worth individuals want a single advisor. High net-worth individuals are a key demographic when it comes to life insurance. However, with their complicated financial investments and riskier lifestyle, their life insurance needs can be very complex. The Investment Executive published an article in its August 2013 issue on what high net-worth individuals want. The premise of the article was that Canada's high net-worth individuals preferred one life insurance advisor, rather than ...
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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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Life Insurance and HPV

Remember when actor Michael Douglas told The Guardian that his throat cancer was caused by HPV, (human papillomavirus), which he said was in turn caused by oral sex? If you need us to refresh your memory, here is the exact quote: Xan Brooks: Do you feel, in hindsight, that you overloaded your system? Overloaded your system with drugs, smoking, drink? Michael Douglas: No. No. Ah, without getting too specific, this particular cancer is caused by something called HPV, which actually ...
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money-plant

Are Life Insurance Commissions on Their Way Out?

The average commission generated by a life insurance policy varies depending on the type of life insurance in question. For example, the average commission on term insurance is 30 to 70%, while it is 90 to 105% on whole life insurance products. Of course, what we're talking about here are the first year commissions, commissions for subsequent years drop much lower to an average of 4% a year for term insurance and 6% annually for whole life insurance. Life insurance commissions are ...
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Insurance Claim Denied: Answering Questions Correctly

Consuelo Hermogino's life couldn't have been better. A new immigrant to Canada from the Philippines, she was about to get married to the love of her life, Bob Lavigne, after meeting him at a church in Regina, Saskatchewan, five years ago. She was finally able to bring her kids to Canada after ten years splitting her time between Taiwan and Canada before she could bring them over. Everything seemed to be going well, but then, after only being reunited with her children for seven months ...
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Unclaimed Life Insurance Benefits

According to the Canadian Life and Health Insurance Association, 22 per cent of the people who request a search for lost life insurance policies find one, and in about 25 per cent of those cases, the policies had actually been surrendered for their cash value or simply lapsed. However, the rest revealed unclaimed benefit amounts ranging from $3,500 to $210,000. The search is free to undertake, but there is a time limit. You only have a window of three months to two years following the ...
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Different types of women in need of life insurance

Life insurance is not just for men anymore. Gone are the days when all the information about life insurance was skewed towards men. Chantal Marr, President of LSM Insurance, is perfectly aware of the fact that more and more women are becoming financially independent. Their lives are often full of unique challenges such as raising children, managing their household, caring for elderly parents, or balancing a career and home life. Together with their financial obligations such as loans and ...
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Universal Life Insurance for Women

Universal life insurance rates for women differ from those of men because females tend to live much longer. According to Statistics Canada, women actually live 4.7 years longer than men, which is why universal life rates are less for females than they are for males. Universal Life policies separate the investment component from the insurance element of a Permanent life insurance policy. They have flexible premiums and can have a level or an increasing death benefit. (more…)
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Insurance Tips for Women

Over the past few decades, women have emerged as near-equals in the workforce but they still do not carry the amount of insurance as men. While in the past home-schooling, transporting children, cooking, house-keeping, and running household tasks were the only responsibilities for most women, nowadays the situation is a bit different. In many families, many women are now enjoying their own careers. They are often full-time employees or even business owners. Nobody is surprised to hear ...
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Life Insurance for Women Myths

According to statistics, a huge proportion of high-income women believe that life insurance is just an extra expense and that they don’t need it at all. Another part of the female population is convinced that it’s enough when their partner is covered. Others are simply put off by the complicated process of selecting the right insurance product. (more…)
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