Life Insurance FAQ:

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We’ve Got The Answers: What Are My Life Insurance Options if I am New to Canada?

Canada has always been a country full of diversity and culture. In recent years, we have seen an influx of immigrants looking for new opportunitieswithin Canada. When migrating to Canada, there is a plethora of forms and documentation required and recommendations given to aid those in securing a safe and comfortable life here. A life insurance policy is one of those important thresholds that helps both those existing Canadian citizens and those new to Canada. Albeit, the process for ...
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How To Enhance The Client Experience

How To Enhance The Client Experience

We reached out to life insurance industry veteran and esteemed professional development expert Jim Ruta to shed some light on how advisors can add more value to their client interactions. If you are an agent or broker looking to impress your clients and provide stellar service, check out his tips below: 1) What are some of the keys to enhancing the client experience? The client experience is a process, not a project. It’s not some thing you do, it’s every thing you do. That means ...
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What to Consider When Buying Mortgage Insurance – Q&A With Sean Cooper

What to Consider When Buying Mortgage Insurance – Q&A With Sean Cooper

A little over a year ago, I achieved financial freedom when I paid off my 30-year mortgage in just 3 years by age 30. I celebrated by burning my mortgage papers on national T.V. My story went viral, making headlines around the world. I received dozens of emails both congratulating me and wanting to follow in my footsteps. This inspired me to write my new book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians. With home prices skyrocketing in cities like ...
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We’ve Got The Answers: I Was Recently Declined, What Are My Options?

Today's Question: I was recently declined for Life Insurance, what are my options? If you were recently declined for life insurance, there is no need to panic; there are options. You need to first figure out why you were declined - doing so will aid you in taking the next few steps. If you were declined for a significant reason, i.e., any serious medical condition, you may want to look into a No-Medical Insurance Policy. For less serious medical conditions, you may qualify for ...
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8 Most Common Reasons Your Life Insurance Application Will Be Declined

For some people, getting the life insurance coverage they need is not easy. Factors such as health conditions and lifestyle choices play an important role in determining whether or not a company sees you as a qualified candidate. Lying on your application to hide potentially damaging facts won't help. It might get you a great policy at prime rates, but when it comes down to filing a claim, the insurance company will discover the truth, and your claim will be denied. We reached out to ...
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What To Do When Your Life Insurance Policy Lapses

What happens to your life insurance coverage if your policy lapses? Will your insurance company be responsible for paying the death benefit on the insured's life if they suddenly pass away? Don't bank on it. If you’ve missed the premium payments for your life insurance policy, and haven't made the missed premium up within a 30-day grace period, your insurance policy will terminate and will no longer provide any insurance coverage or benefits. The 30-Day Grace Period The Grace Period is ...
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Top 5 Term Life Insurance Mistakes People Make

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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Does Life Insurance Pay Out for Acts of War?

When you buy life insurance, essentially what you receive from your broker is a promise. It's a promise to be there for you and, most importantly, your beneficiaries. But when all you see in the news are the terrifying accounts of wars ─ the most recent outbreak in Gaza — it wouldn't be surprising for some of us to doubt this promise. (more…)
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Top 5 Most Asked Questions for Smokers

Are you a tobacco, cigar, or e-cigarette user who's curious to read what insurance companies have to say about insuring you? Well, look no further! We have some useful information on this topic. Or perhaps you don't smoke but know someone who does and is wondering why their premium is much higher than yours. Here at LSM Insurance, we have constructed an infographic answering basic questions in regards to obtaining life insurance for smokers. LM00LM
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The Advantages and Disadvantages of Insured Annuities in a Low Interest Rate Environment

The Advantages and Disadvantages of Insured Annuities in a Low Interest Rate Environment

Insured annuities are as guaranteed and unwavering as the passage of time. There are many investment options available to the public these days, but it can often be difficult to determine which is right for your particular situation. An insured annuity is designed to provide a tax-efficient lifetime income and preserve or increase the money available to your estate. The annuity provides the income, while the life insurance policy it comes with preserves the capital you already have by ...
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