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How Rising Interest Rates Could Lower Your Life Insurance Premium

Empire Life has come out with a unique Hybrid Life Insurance policy that will allow Canadians to benefit when interest rates finally rise fromtheir historical lows. The plan is called Hybrid Solution 100, and it offers the following benefits: (more…)
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Dirty Little Secrets: 5 Things Canadian Life Insurers Don’t Want You to Know

To put it bluntly, many Canadians are skeptical toward life insurance brokers andlife insurance companies, and in some cases, they're right to be suspicious.While the majority of insurance advisors and companies have goodintentions, there are certain pieces of information that they'd rather keep to themselves. Below are the top five most coveted secrets that those in the insurance industry do not want you to know: 1. It's Relatively Easy to Become a Life Insurance ...
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Term Life Insurance for Children

Most parents looking for life insurance for their children are looking for permanent policies where the coverage remains level for the insured child's lifetime. Many of these whole life or universal policies can be paid up in a limited number of years and build a cash value.However, some parents are looking for more basic coverage for their children. Term insurance can provide an affordable solution if this is the case. There are two types of term policies for children. (more…)
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BMO Insurance Whole Life Plan for Children

Now may be the time to buy BMO's 20-pay whole life plan for children BMO insurance offers a 20-pay non-participating whole life plan for children. The plan is very competitively priced and offers lifetime protection and is fully paid up at the end of 20 years. Ithas higher guaranteed cash values than most of its competitors and offers a unique 50 per cent paid-up provision at the end of 10 years, meaning that if the applicant stops paying at the end of 10 years, theinsured ...
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Foresters’ Familylife Participating Whole Life Insurance

Foresters' Family Life is an affordable whole life insurance solution for families. Photo Ted Bongiovanni Foresters Life Insurance Companyhas just launched a new participating whole life insurance product called Familylife.The policy is meant to provide families with cost-effective permanent insurance that's specifically tailored to their budget and unique protection needs. "Familylife comes with a number of key benefits that are not included with other ...
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Why Whole Life Dividends will Continue to Decrease

Whole Life Insurance can be broken down into two categories: participating and non-participating. Non-participating whole life policies generally offer guaranteed premiums, guaranteed cash value, and guaranteed coverage. Non-participating whole life policies, on the other hand, do not generate a dividend. (more…)
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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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Children’s Life Insurance: Which Plan is Best?

Which type of Life Insurance policy is best for your child? This is a tricky but important question.Let's break the answer down into three categories. 1. Permanent Life Insurance This is the most expensive solution for a child, but it also offers the most comprehensive coverage.Permanent Life Insurance solutions for children include the following. (more…)
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How Much Does a Children’s Life Insurance Policy Cost?

You can affordably insure your children A Children's Life Insurance policy can be a great way to protect your child's future insurability, and it offers some valuable benefits. However, the challenge can be fitting in the cost with your other financial objectives, but the good news is that a Child Life plan can accommodate almost any budget. Below are examples of pricing for different child life plans and some of the key benefits of each plan. 1. Whole Life Insurance This is the ...
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Term Insurance for People Over 65

You can get Term insurance if you're over 65. Photo by Luciano Meirelles More and more seniors require term insurance well into their retirement years. According to Ipsos-Reid, Canadian seniors increased their average debt by 15 per cent in 2012 to $47,549. The challenge when you get older is figuring out which policies are available to you. Whole life premiums may be too expensive for many seniors, and most insurance companies only offer term insurance for a maximum of ten years ...
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