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Canada Protection Plan Increases Coverage Levels

Good news for people facing difficult roadblocks when trying to buy life insurance. Canada Protection Plan, the leading No Medical and Simplified Issue insurance provider in the country, now guarantees that no applicants will be turned away when they attempt to obtain protection for their loved ones. “Whether you have health issues, are in good health, new to the country on a work permit, participate in extreme sports or simply want reliable, affordable coverage quickly and are ...
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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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accidental death insurance

Life Insurance with Accidental Death: Is it a Good Deal?

There is a new version of this article (summer/fall 2018) about Accidental Death and Dismemberment Insurance that explains in detail this insurance. It also compares costs of Accidental Death Insurance to other insurance types. Is accidental death insurance a good deal? Canadians are constantly bombarded with life insurance offers. Although having adequate coverage is important, many of these offers are for specialized insurance or add ons that you don't really need. Sun Life, ...
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Term Insurance To Age 80: Making Life Insurance Simpler

Term Insurance To Age 80: Making Life Insurance Simpler

If you have a family, or loved ones that you want to protect in the event of your death, you have probably considered life insurance. There are a myriad of options available including permanent life insurance and term life insurance. Term life insurance is simple and easy to understand and generally have predictable and very affordable premiums. It can be a great complement to permanent life insurance if that coverage doesn’t give you a large enough dollar amount to fulfill your life ...
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6 Insurance Policies Self-Employed Professionals Should Consider

6 Insurance Policies Self-Employed Professionals Should Consider

Being self-employed has its perks. You have a flexible schedule, control your own income potential and make decisions based on your own self-interests. But, when it comes to being insured, that’s where being self-employed can be a little tricky. Working for an employer usually allows you to be a part of a group insurance plan that covers you and your family for a variety of insurance products. If you decide to take the self-employed route, you will usually be cut off from these group ...
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Top 5 Term Life Insurance Mistakes People Make

Photo by :Alan Cleaver /CC BY 2.0 Sometimes it’s easy to make the following mistakes when you make a term life insurance purchase, or it could be that you didn’t do it right. Most clients are unfamiliar with life insurance and usually require the assistance of an agent to aid them in the process. In our previous article,Independent Agent vs. Captive Agent, we address the issue that agents and their clients must and should maintain a good relationship. (more…)
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Canadians Aren’t Confident They Have Enough Life Insurance

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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Are Homeowners Properly Insuring Their Increasing Debt Loads?

These days, it seems like debt is the norm. Instead of it being the "elephant in the room," it's all everyone talks about ─ the bragging rights one obtains from taking out a loan to buy a luxury car, or funding a vacation trip entirely on credit. According to a survey by Manulife Bank of Canada, homeowners are more comfortable with both holding and talking about their debt than their parents were. "Recently I've noticed people are happy to talk about their debt as if it's an achievement, ...
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RBC Insurance is Waiving Policy Fees

RBC Insurance™ logo In May 2014, RBC Insurance announced that they were waiving the policy fee for three months on their Term 10 and Term 20 life insurance products. They will waive the regular $40 policy fee for your term clients on any new Term 10 or Term 20 with coverage amounts of $250,000 to $499,999 from May until August 8, 2014. An application for any new policy received between the dates of May 12, 2014, and August 8, 2014, will be processed without a policy fee. An ...
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The Top 10 Reasons to Buy Life Insurance

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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