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Foresters’ FamilyLife Quit Smoking Incentive Plan

If you're a smoker that's trying to quit, Foresters will give you non-smoker rates. Though smoking rates are on the decline, there are still 4.9 million smokers in Canada, according to research funded by the Canadian Cancer Society. Foresters Canadadesigned its FamilyLife product to be affordable for the Canadian family, but they know that the typically added cost for smokers can be a deterrent to purchasing life insurance. They also know that most smokers just need a little ...
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Assumption Life’s No-Medical InstaTerm Policy

It's not an instant message, it's InstaTerm. Assumption life released its highly anticipated InstaTerm policy over the holiday season. Named 33rd of the top 101 companies to work for in Atlantic Canada, Assumption Life is already a leading carrier in the permanent no-medical life insurance market. It's trying to tap into the increasingly crowded no-medical term insurance market. On the other side of the spectrum, Humania Assurancehas already made a big splash with its ...
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What Is Critical Illness Insurance?

"People don't need insurance because they are going to die… They need it because they are going to live." – Dr. Marius Barnard Dr. Christiaan Barnard performed the world’s first adult heart transplant in South Africa in 1967. His lesser-known brother, Dr. Marius Barnard, also a heart surgeon, developed critical illness insurance. He developed this insurance because he saw the need to help people who were suffering financially because of hardship from illness. ...
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Life Insurance for Canadians Living Abroad

According to CBC News, an estimated 2.8 million Canadians live and work abroad, which means that people are leaving the country at a rate three times higher than those born in Canada. These Canadian citizens need life insurance to protect their family's future and make sure they are financially secure, but — like most underwriting criteria — their ability to obtain life insurance varies from one company to another. For example, the application must be completed in Canada, and in ...
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UPDATE: Life Insurance for New Canadians

Generally, there are four categories to consider when talking about life insurance for new Canadians: those with a work visa, those with a student visa, those who have claimed refugee status, and those with an open visa. In 2012, those with work visas of any kindtemporary residents was 9,701. (more…)
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Comparing Simplified Issue Term 20 Plans

When it comes to the term life insurance product segment, the Simplified Issue Term 20 space has become highly competitive. For example, Humania Assurance Inc., formerly one of Canada's oldest life insurance mutual companies as LS Mutual, has entered the market. It already provides heavy competition in the guaranteed-issue no-medical insurance market to more established, well-known companies in Canada like Manulife and BMO Insurance. Simplified-issue plans, unlike guaranteed-issue plans ...
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Free No-Medical Life Insurance for Children

When it sounds too good to be true, it usually is. But this time, with the help of Foresters' FamilyLife Whole Life Insurance Policy, it can be a reality for your child. If parents purchase the FamilyLife Whole Life policy, they can include the Basic Children's Coverage Benefit at no additional cost. This children's life insurance rider includes $3,000 of term life insurance for any child under the age of 18. In addition, the term insurance policy can be converted into any one of ...
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Benecaid’s Small Business Benefit Plan

Marla Schwartz, President and CEO of Benecaid, takes us through its Guaranteed Small Business Benefit Plan. Benecaid, a Toronto-based health benefits provider, serves about 60,000 Canadians, but where the company really shines is in what it's able to provide small to medium business owners. Benecaid's Small Business Benefit Plan offers health coverage for the employees of business owners and entrepreneurs, with plans typically covering 25 to 100 lives in one company. "We have ...
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Do You Need a Beneficiary Checkup?

In the United States, over $1 billion in life insurance policies go unclaimed and in Canada 22% of the people who request searches for lost life insurance policies from the Canadian Life and Health OmbudService find policies, some paying out to the tune of $210,000. To avoid such a search, it's crucial that your beneficiary know that you have a policy in place. Keep your life insurance policies — or at the very least a summary of your life insurance policies — with your other important ...
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Benecaid: A Unique Group Insurance Renewal Process

Marla Schwartz is the Presidentand CEO of Benecaid, a health benefits company with a unique approach to renewals. Benecaid is a Toronto-based health benefits company founded in 2000. What separates Benecaid from the other group health insurance providers in Canada is the way that they handle renewals. With that in mind, LSM Insurance sat down with Benecaid President and CEO Marla Schwartz to talk about what makes Benecaid's renewal process different than their competitors. "Our ...
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