Life Insurance for Children

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6 Insurance Policies You May Need To Walk Away From

Contrary to what certain insurance brokers will try to get you to believe, buying an insurance policy for every occasion is not always a good idea. As everyone has a different need, it’s important to do some research and understand what the right type of insurance is for you. Taking out an insurance policy you...
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Canadians Aren’t Confident They Have Enough Life Insurance

Most Canadians don’t really understand life insurance. It’s no secret that the majority of Canadians don’t really understand life insurance. And now there’s a survey to confirm that trend. BMO Insurance released a poll in mid-july 2014, showing that 88% of Canadians are not very familiar with the different types of life insurance. In addition, while 74%...
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Life Insurance for Parents with Special Needs Children

Life insurance can insure the future of your child with special needs The Canadian Ministry of Employment and Social Development reports that 202,350 Canadian children had a disability in 2006, which accounts for about 3.7% of children between the ages of zero and 14 — interestingly, more boys (4.7%) than girls (2.7%). For the parents...
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Life Insurance for Newborns

According to Statistics Canada, there are more than 350,000 children born in Canada every year.  Many financial experts say that life insurance for newborns doesn’t make sense. The common rationale is that you’re not financially dependent on your baby, but rather, your baby is financially dependent on you. This makes sense on the surface, but what...
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Are Life Insurance Commissions on Their Way Out?

The average commission generated by a life insurance policy varies depending on the type of life insurance in question. For example, the average commission on term insurance is 30 to 70%, while it is 90 to 105% on whole life insurance products. Of course, what we’re talking about here are the first year commissions, commissions...
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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...
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Term Life Insurance for Children

Most parents looking for life insurance for their children are looking for permanent policies where the coverage remains level for the insured child’s lifetime. Many of these whole life or universal policies can be paid up in a limited number of years and build a cash value. However, some parents are looking for more basic coverage...
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Children’s Life Insurance: Which Plan is Best?

  Which type of Life Insurance policy is best for your child? This is a tricky but important question. Let’s break the answer down into three categories. 1. Permanent Life Insurance This is the most expensive solution for a child, but it also offers the most comprehensive coverage. Permanent Life Insurance solutions for children include the following.
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How Much Does a Children’s Life Insurance Policy Cost?

You can affordably insure your children A Children’s Life Insurance policy can be a great way to protect your child’s future insurability, and it offers some valuable benefits. However, the challenge can be fitting in the cost with your other financial objectives, but the good news is that a Child Life plan can accommodate almost...
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Children’s Life Insurance: Is It Worth It?

Life insurance for children: is it really worth it? The Globe and Mail wrote an interesting article exactly a year ago, in October 2011, asking “Does your child need life insurance?” “There are usually three main reasons to buy life insurance on a child,” says Karl Simon, director of product and marketing for Equitable Life....
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