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Universal Life Insurance: Increasing Versus Level Death Benefits

Your Family is your biggest investment, so try Universal Life Universal life policies began increasing in popularity in Canada during the 1980s with the introduction of rising interest rates. Consumers at that time wanted to take advantage of rising interest rates within a tax sheltered environment and Universal policies afforded them that opportunity. Universal Life insurance unbundles permanent life insurance and separates the cash value component from the life insurance component ...
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Universal Life Insurance: Understanding Your Policy Investment Options

Universal Life insurance is an unbundled form of permanent life insurance. The life insurance component is separated from the investment component within the policy. The investment component with most Universal Life plans can range from a safety investment, such as a daily interest account or a 1, 2, 3, 5 or 10 year guaranteed investment account for low-risk and high-risk equity-based funds. Many Universal Life policies also offer a minimum guaranteed return within the ...
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La Capitale Fixed Term Critical Illness Riders

La Capitale has rolled out a new critical illness rider on all their term life insurance and permanent life insurance products. The Fixed Term Critical Illness rider offers $25,000 in critical illness insurance for what could be as little as $11.81/month. (The quote is the rate for a 35-year-old, male non-smoker.) It covers 25 potential illnesses or surgeries, carries additional benefits for four other conditions and gives carriers access to the Best Doctors medical database if ...
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Best Term 100 Life Insurance Plans in Canada

find out rates for a 50-year-old, male non-smoker. Photo by Luciano Meirelles Term 100 life insurance is essentially a stripped-down form of whole life insurance. The premiums are level for life and the policy provides lifetime protection. Unlike whole life policies, there are generally no cash values that build within the plan. This generally translates into a lower premium than is available with whole life coverage. On the downside, if the insured cancels the policy in the later ...
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Life insurance in Canada and Preferred Rates

Most life insurance companies in Canada offer preferred rates. Preferred rates are given to those individuals who are in excellent health and have a very good family health history. Preferred rates are generally further divided into preferred and super-preferred rates. The latter is given to those individuals who are in exceptional health and have an excellent family health history. Life insurance companies will look at many variables when analyzing whether an applicant qualifies ...
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Insured Annuity: A Great Alternative and a Low Interest Rate Environment

An insured annuity is a strategy that provides an alternative to today's low interest rate fixed investments, including GICs, T-Bills and Guaranteed Investment Accounts. They provide a tax-efficient lifetime income and guaranteed income from the original principal investment. How does it work? The applicant deposits a lump sum into a lifetime annuity and takes out a equivalent amount of Permanent Life Insurance. A small amount of the income the applicant receives is taxable ...
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Burial Insurance – Is it A Good Deal?

Burial insurance, otherwise known as funeral insurance, is essentially a permanent life insurance policy – the premiums are fixed and the plan provides lifetime protection. Burial life insurance policies pay out a lump sum tax free death benefit that can be used to cover the cost associated with final expenses. Funeral expenses have doubled over the last 15 years with an average price of $7,500 (including announcements, floral decorations, etc...) Pre-planning funeral ...
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Life Insurance for Highly Taxed Canadians

The average Canadian payed $37,700 in taxes (42.6% of their income) in 2009, compared to 20% in 1999. Many highly tax Canadians approaching their retirement or in their retirement have set aside non-registered investment funds to leave to their children or a favourite charity. Although it's unlikely they may need the money, they are still concerned about the safety of the investments. As a result of being in high marginal tax bracket the annual taxes paid on the growth of these ...
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Empire Life’s Insured Annuity

Empire Life has launched its own Insured annuity designed to provide an alternative to regular, low fixed income investments. An insured annuity is designed to provide a tax-efficient, lifetime income and preserves or increases the money available to your estate. Simply, the annuity provides the income and the life insurance policy it comes with preserves the capital you already have by providing a tax-free payout in the event the holder passes away. Normally, there are two approaches ...
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An Estate Planning Alternative Other Than Life Insurance

According to The Globe and Mail, Ontario ranks third as the most affluent province in Canada behind Alberta and the new leader Vancouver. Though income lowered across the country between 2008 and 2009, these three provinces were able to better hold onto their wealth. With so many wanting to maintain their wealth into the next generation, there is an increasing need for estate planning solutions. As each year passes, it gets harder to hold onto the money you already have as the rich ...
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