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The Top 10 Reasons to Buy Life Insurance

Keep your house in order with these top 10 reasons to buy life insurance. The number-one question many brokers get when trying to convince a client to buy life insurance is probably, "Why do I need it?" After all, it's an invisible product and on its face, it seems like you're paying for something that you're not going to see the benefit of anyway. Well, that's not exactly true. Life insurance can benefit you while you're alive just as much as it can benefit your family when you ...
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How Much Does Life Insurance Cost: Five Real-Life Scenarios

With so many insurance calculators out there, sometimes it's important to get real. There are all kinds of life insurance calculators on the Internet, but what does it all really mean when we ask you to click on one at the end of our articles? Is it all just an elaborate sales pitch? Truth is, we're trying to help you. There are so many variables and factors that go into determining how much you'll pay for life insurance that only specific real-life circumstances will suffice in ...
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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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Top 5 Life Insurance Mistakes

Life insurance is always a tough sell: an invisible product that the policyholder will never actually benefit from directly, and yet they still have to pay for it every month. But if you don't have it, you won't be able to make sure your family maintains the lifestyle they've become accustomed to or replace your income when you pass away. Although, just because you have life insurance, doesn't mean it's necessarily working for you in the right way. Since life insurance is such a complex ...
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Term vs. Permanent Insurance: What’s Better?

For insurance brokers, the eternal question they hear all the time is when it comes to term or permanent insurance, which type is better? Our LSM Insurance team fields this question constantly, and though we will continue to answer it ad infinitum, we decided for this article that we'd ask the question to some of the heavyweights in the financial world. Canadian financial celebrity Gail Vaz-Oxlade answers the question this way:"Whether you buy 'term,' 'whole life,' or 'universal life' ...
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Foresters’ FamilyLife Quit Smoking Incentive Plan

If you're a smoker that's trying to quit, Foresters will give you non-smoker rates. Though smoking rates are on the decline, there are still 4.9 million smokers in Canada, according to research funded by the Canadian Cancer Society. Foresters Canadadesigned its FamilyLife product to be affordable for the Canadian family, but they know that the typically added cost for smokers can be a deterrent to purchasing life insurance. They also know that most smokers just need a little ...
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Assumption Life’s No-Medical InstaTerm Policy

It's not an instant message, it's InstaTerm. Assumption life released its highly anticipated InstaTerm policy over the holiday season. Named 33rd of the top 101 companies to work for in Atlantic Canada, Assumption Life is already a leading carrier in the permanent no-medical life insurance market. It's trying to tap into the increasingly crowded no-medical term insurance market. On the other side of the spectrum, Humania Assurancehas already made a big splash with its ...
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Free No-Medical Life Insurance for Children

When it sounds too good to be true, it usually is. But this time, with the help of Foresters' FamilyLife Whole Life Insurance Policy, it can be a reality for your child. If parents purchase the FamilyLife Whole Life policy, they can include the Basic Children's Coverage Benefit at no additional cost. This children's life insurance rider includes $3,000 of term life insurance for any child under the age of 18. In addition, the term insurance policy can be converted into any one of ...
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Which Province has the Highest Probate Fees?

"Probate" is the recognition by the provincial court of the validity of your will and the appointment of the person named as executor. Granting of the "letters probate" is notice to the public that the will complies with the basic formal requirements and that the will was not being challenged at the time of application. Probate fees are a tax on a person's estate, and except for the provinces of Quebec and Alberta, andaccording to Fiscalagents.com,there is no limit to this tax. But you ...
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Life Insurance and Divorce

Although divorce rates in Canada are on the decline -- dropping by eight per cent from 2006 to 2011 -- it's estimated that 41% of marriages will end in divorce before the 30th year, according to The Globe and Mail. If you are a member of that 41% club and are required to pay child support, you will often also be required to buy life insurance, so you can still fulfill your obligation in the event of your death. The Ontario Family Law Act says an order for support binds the estate of ...
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