Permanent Insurance:

News from 2011

Life Insurance for Accountants

There are approximately 361,128 accountants working across Canada, according to statistics provided by the Canadian Government. They make, on average, a salary of $26.27 an hour. Typically, accountants are the arbiters of our financial future, determining our budgets and how much money we take in versus how much we take out. Life insurance can cushion them and their families for their own financial future, and it's usually divided into two categories. Term Insurance starts off lower ...
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Life Insurance for Doctors

According to the Canadian Government, there are 111,843 doctors working across the country. GPs and family physicians make an average of $79 an hour, while specialists take in about $117 an hour. All of them would be better served by life insurance to protect the future of their families. Life insurance can be broken down into two categories, Term insurance and Permanent Insurance. (more…)
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Standard Life will No Longer Sell Individual Life Insurance and Critical Illness Policies

Standard Life will not sell individual life insurance in the new year. Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies. However, the company will still serve those holding existing policies and applications received right up until December 31 and will still own that block of business after January 1. Its staff will continue to service these policies and give clients the opportunity to increase coverage, add coverage, ...
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Life Insurance for Lawyers

According to the Canadian Government, there are approximately 77,935 lawyers working across Canada, 93% of whom work full-time and make a median hourly wage of $40 — exactly double all the other occupations. This translates to just under 80,000 lawyers who could potentially need life insurance. Life insurance can be broken down into two categories Term insurance and Permanent Insurance. Term insurance starts off lower in costs and increases as the insured gets older. The length ...
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The Benefits of a Key Person Life Insurance Policy

Key person life insurance provides cash to a company via life insurance should one of the key employees die. Life insurance is one of the best ways of offsetting the loss of a key person in your business due to unexpected death. A key person in an organization is anyone whose skills and talents contribute to the company's bottom line. Examples of people who are a fit for key person life insurance are the following: 1. Owners/managers 2. Top sales people 3. Key programmers and ...
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Desjardins Financial: Increasing Rates on Permanent Life Insurance Policies

Desjardins Financial will be raising the rates on its permanent life insurance policies as of November 24th, 2011, as a result of historically low interest rates. The following products will increase in cost: Life 10 and Life 20 Precision 10 and Precision 20 Universal Life Foundation Term 100 Universal Life Healthcare Advanced 65 Universal Life (more…)
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Industrial Alliance Raises their Whole Life Insurance Rates

Effective January 1, 2012, Industrial Alliance is increasing premiums on their Whole Life Insurance. The increase is once again thanks to low interest rates. Many insurance companies, including Industrial Alliance, have already raised their universal life rates for the same reason. The policies affected include the 10-year, 15-year, and 20-year paid-up policies and its Payable-to-Age 100 products. The good news is that products already in-force will not be affected because because the ...
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Empire Life’s Insurance Policies

Empire Life offers renewable and convertible Term policies as well as Non-Participating Whole Life policies and Universal Life plans. Empire life's Term 10 and Term 20 policies are convertible to age 75 and renewable to age 100. Both of these features are unique to the industry because most insurance companies offer conversion options to age 65 on their Term 10 and Term 20 policies. In addition, Empire’s Term plan can be converted without a medical to their Term 100, 20-Pay ...
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Desjardins Financial on Life Insurance Policies

Desjardins Financial offers Term Coverage, Whole Life Coverage, and Universal Life Coverage. Their term policies are available as Term 10 and Term 20 policies, and the company offers standard and preferred rates. The plans are convertible at age 65 and renewable to age 80. They offer non-participating Whole Life policies on a life-pay, quick-pay, or 20-pay basis. They also offer a Term 100 policy called Maxlife, which offers fixed premiums for life, but this policy does not build ...
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Universal Life Rates Are Set to Go Up Again

The National Post, The Globe and Mail,and the Insurance and Investment Journal have all recently run stories on the upheaval taking place in the Canadian life insurance industry. Historically low interest rates are wreaking havoc on permanent Life policies in Canada. Manulife Financial was the first to announce price increases in December 2010, and other companies, including Canada Life, Great-West Life, RBC Insurance, BMO Insurance, Industrial Alliance, and Empire Life quickly ...
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