Life Insurance FAQ:

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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Can I pay my life insurance premium by instalments? If so, how many instalments can be allowed?All Insurance Companies allow for monthly or annual payments. Some companies alaso allow quarterly or semi-annual installments. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Will I be notified when my policy is going to expire and my rates change? Yes the insurance company should send you a letter notifying you of an increase in rates. Insurance companies also generally notify the broker of record of any major policy changes and he / she should also notify the insured. Having said that if your policy was bought direct and / or if your broker left the business this may not happen. Read more questions and answers about Life ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: I live in Canada and have a whole life insurance policy from a US Co. (for various resons it made more sense to take a US policy). Is this policy considered an exempt policy? We are only licensed in Canada. But the policy should carry the same provisions as if you live in the US - assuming all questions were answered accurately. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: Hi I am a CANADIAN but working and staying with my family in UAE for last 5 years. Can I buy life insurance, disability insurance and critical illness from Canada? Pls advise Thanks for the note. You would have to be residing in Canada when applying a life, disability and Critical Illness application. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: Will insurance company pay if the insured died outside Canada? Is there any law to support insured about this case? Yes - the policy should pay out if you die outside Canada - assuming all questions were answered accurately and suicide was not commited in the first 2 policy years. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: Will insurance company pay if the insured died outside Canada? Is there any law to support insured in this case? The policy should pay out if the application was completed truthfully and the death was not related to suicide in the first two policy years. Unfortunately we do not have any specific case law to refer you to. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: I have a term policy, does it just expire if i do not renew or do I have to cancel it? Can it be renewed without me signing any documents? Most Term policies renew automatically. The insurance company would require you to sign a letter to cancel the policy. Read more questions and answers about Life Insurance FAQ.
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Is It Better to Work with an Independent Broker or a Captive Agent?

Which would you choose, Captive or Independent? Independent brokers provide insurance solutions with a variety of insurance carriers, but captive agents generally only offer life insurance solutions with one carrier. At first glance, it may seem obvious that independent brokers provide clients with a better value, but the following takes a closer look at the pros and cons of working with an independent broker or captive agent. (more…)
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The Life Insurance Application: Creating a Clear Picture for Underwriters

One of the primary benefits of dealing with a life insurance broker is that they have the ability to shop the market to find you the best possible value on an insurance product. LSM insurance takes it a step further, our advisors are specially trained to deal with hard to insure clients. When dealing with health issues like diabetes or heart disease, it's vital that the broker let the underwriter know all relevant and pertinent information and give the underwriter the clearest possible ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: I have a policy that is in my former married name. Also the address, phone# etc are incorrect. The representative is no longer with the company. The 20 year renewal is 2012. How do I change my information? You would have to contact your insurance company. The address and phone number they can likely change over the phone after they verify your details. The change of name would likely require some type of document to be signed - they would supply ...
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