News from 2012

Canada Purple Shield’s Funeral Expenses Policies

Purple Shield has been offering final expense solutions in Canada for over 50 years. Its policies are sold by its in-house sales team and are underwritten by Assurant Life, which is a member of the insurance company insurer Assuris. A.M. Best has given Assurant Life an "Excellent" A rating as an indicator of its financial strength. Assurant Life of Canada’s parent company, Assurant, Inc., is a provider of specialized insurance products and related services in North America and selected ...
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Test Your Eligibility for Life Insurance: If You Have a Serious Illness, We Have Good News!

You may still qualify for life insurance with a history of drug use If you have ever been diagnosed with a serious illness (such as heart attack, stroke, diabetes, or cancer) and been told you're not and you never will be eligible for life insurance, we're happy to report that nothing could be further from the truth. On the top-third of the LSM home page, right above our CityTV interview, sits a drop-down menu titled "Find out your eligibility for life insurance if you have a serious ...
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Comparing the Four Types of Living Benefits Insurance

Living benefits are health-related insurance plans. Living benefit insurance is very different from life insurance because it pays out if the insured develops a type of injury or illness. Living benefit insurance policies generally come in four distinct types: Disability Insurance, Critical Illness Insurance, Long-term Care Insurance, and Health and Dental Insurance. For your benefit, we've provided a summary of each coverage category. 1. Disability Insurance:This living benefit ...
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What Are My Options If I have Been Declined or Rated for a Critical Illness Policy?

The Edge Benefits provides a Guaranteed Issue Critical Illness plan. Guaranteed Issue means the policy requires no health questions and no medical tests. Guaranteed issue coverage is fairly common in life insurance, but it is very rare and difficult to find a carrier providing this type of critical illness protection. The policy is available to applicants diagnosed with a major illness, such as cancer, stroke, or heart disease. (more…)
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BMO Insurance’s Four Online Life Insurance Solutions

BMO Insurance offers the following four policies directly to consumers through its website. These policies are not sold via their independent brokers, but BMO Insurance does offer a host of life insurance policies through independent brokers. 1. EasyTerm — Term Life Insurance:Available to Canadian applicants between 18 and 75, if the insured is between age 18 and 65, he or she can can get up to $249,999 in coverage without a medical examination. BMO also guarantees the renewal of the ...
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Comparing No Medical Life Insurance Plans for Seniors

Background: No Medical Life Insurance Plans for Seniors Seniors looking for no medicalwhole life insurance policiescan choose between guaranteed issued policies, where there are no medical tests and no health questions, and simplified issue policy where there are no medical tests and a series of health questions. There are three forks in the road as it were for life insurance, for those that would prefer for one reason or another to not have to go through the detailed medical ...
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Guaranteed Issue Life Insurance for Women

Guaranteed issue life insurance policies have no medical test and no health questions. The premiums for guaranteed issue life insurance policies are lower for females. The rationale being that females live longer than males. After all, Statistics Canada reports that life expectancy at birth has reached just over 81 for women and just over 78 for men. For those over age 65, life expectancy has reached just over 83 for men and a little over 86 for women. The other type of no medical ...
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Wawanesa Life’s No Medical Life Insurance Policy

Wawanesa Life offers a no medical life insurance policy called Instant Issue Life Insurance. The policy is a simplified issue plan, meaning that there are no medical tests, but there are five health questions. Guaranteed issue policies have no medical tests and no health questions, but usually come at a higher premium and have lower face amounts than simplified issue policies. The Wawanesa plan is available to applicants aged 45 to 75 with face amounts up to $50,000. Some of the ...
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No Medical Life Insurance with Canada Purple Shield

The Canada Purple Shield plan is sold via their team of pre-planning funeral expense consultants. The average cost of a funeral in Canada is $7,500, rising dramatically from to 2008, when the Canadian Government pegged the average cost at $5,892. Canada Purple Shield's plan is meant to help cover that higher cost. The policy is underwritten by Assurant Life of Canada, which is the last funeral funding company in Canada that has an excellent rating from AM Best. The AM Best rating is an ...
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The 10 Key Benefits of Assumption Life’s No Medical Life Insurance

Assumption Life's Golden Protection Plan is available without a medical test and the policy is available with a deferred or an immediate payout. The policy is also available as Golden Protection Plus, which offers an increasing death benefit. The following are ten key benefits of the Golden Protection Plan: 1. Issuing Age Range is 40 to 85. Most no medical life insurance policies stop offering coverage to individuals 75 and older. 2. Lifetime Protection. The life insurance can ...
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