Non-medical:

News from 2013

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How Depression Affects Life Insurance Applications

Canadian Living reports that 10% of the population suffer from depression at any given time and 15% will get hit with severe depression at some point in their lives. There are generally six different types of depression, which are defined in the following ways: Endogenous Depression - Depression that is caused by internal sources, such as worry, fear and stress. Situational Depression - Depression that's tied to particular situations, such as going to parties. Psychotic ...
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Disability Insurance for People Over 65

Disability insurance over 65. According to Sun Life Financial's Annual Unretirement Index, not only are Canadians working past age 65, but they're also doing it because they have to. The index shows that the number of Canadians who expect to retire by 66 has fallen by half between 2008 and 2012 from 51% to 27%. The number of people who expect to be working full-time at age 66 also rose by 10% to 26% between 2008 and 2012. Plus, 32% of respondents expect to be working part-time at 66. ...
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Manulife Financial’s Simplified-Issue Term 10 Policy

There are a number of simplified-issue policies to choose from. Which one works for you? Manulife Financial offers a simplified-issue term life insurance policy to applicants aged 18 to 70. The plan is CoverMe Easy Issue Life Insurance. It has no medical tests and two health questions. The premiums are guaranteed for the first ten policy years and the plan is renewable until age 85. Plus,face amounts can be $50,000 or $75,000. Unlike many other simplified-issue term policies, ...
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Equitable Life Simplified Whole Life Insurance

Ask your broker about Equitable Life's Final Protection. Equitable Life recently introduced a new simplified issue life insurance policy, which is called Final Protection. This whole life policy is non-participating, meaning it does not produce a dividend. It offers coverage face amounts from $5,000 to $50,000. Applicants can be aged 40 to 80. There are no medical tests and only a short series of health questions. Brokers can use Equitable Life's electronic application, so the policy ...
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Humania Assurance Inc. Makes a Splash in the No-Medical Life Insurance Market

Humania Assurance has announced details about its newest no-medical life insurance product that's actually called Humania Assurance: Insurance Without a Medical Exam. The product is available on the Internet through a broker. It's designed for people who, for medical reasons, don't qualify for traditional life, disability, and critical illness insurance.It offers three separate policies, a 10- or 20-year term, and a premium refund option (75% after 20 years). The amounts of coverage ...
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LS Mutual Becomes Humania Assurance Inc.

With 75 years in the business behind them, LS Mutual has changed its name to Humania Assurance Inc. “This rejuvenation process was driven by a desire to give the company a more modern, bilingual name that better evokes the human values that guide the company and the health insurance products that characterize it,” says Humania's president and CEO, Richard Gagnon. The name LS Mutual will remain a part of the newly named company as the name of the management corporation ...
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Simplified Issue Life Insurance: How Does BMO Insurance Compare to Assumption Life?

The no-medical life insurance market seems to be an increasingly reactive niche market when it comes to direct life insurance carriers in Canada.Consumers have their choice to buy direct or use a broker. The insurance companies know that too. Two carriers butting heads in this market are BMO Insurance and Assumption Life. BMO Insurance offers two types of no-medical life insurance, their Guaranteed Life Plus plan, which has no medical tests and no health questions, and their Easy One ...
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Are Life Insurance Companies Exploiting Seniors?

Insurance companies are exploiting seniors. Photo by Luciano Meirelles Canada's 2011 Census confirmed what we all were sure was coming.Back in 1971, the National Post reports,only 8% of us were 65 and older, and now, that percentage has ballooned to 14.8% — which is nearly 5 million seniors out of 33.5 million Canadians. It's the highest number of people over age 65 that there has ever been in this country. With Canadian baby boomers approaching life as senior ...
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Simplified Issue Crititical Illness Term 10 Coverage

La Capitale offers a simplified issue critical illness term 10 policy called Second Chance. The policy is available to applicants aged 18 to 60 and at face amounts of 10,000, 25,000, and $50,000 worth of coverage. The premiums are level for ten years, and the plan is guaranteed renewable. The plan covers six illnesses, and the policy includes a Best Doctors Assistant Service for all your diagnostic and consulting medical needs, as well as Succession Advantage Coverage. There's no ...
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Insurance Solutions for Unhealthy Young People

According to CBC, "Between 1994 and 2005, rates of high blood pressure among Canadians skyrocketed by 77 per cent, while diabetes rose by 45 per cent and obesity by 18 per cent." Further, "More than 250,000 Canadians in their 20s and 30s had high blood pressure, making them the newest at-risk group." Plus, The Childhood Obesity Foundation of Canada reports the following: "There has also been a dramatic increase in unhealthy weights in children. In 1978, only 15% of children were ...
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