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Desjardins Increases Universal Life, Term 100 and Critical Illness Insurance Rates

As of March 14, Desjardins Insurancehas announced a premium increase to their permanent life insurance and critical illness products. For permanent insurance products, the average increase will be between 2 and 7 per cent on the following brands: MaxLife (T100) Guaranteed Whole Life and Life 20 Foundation (T100) Precision and Precision 20 The level cost for Flex 1 and Flex 1 paid-up at age 85 or in 20 years will also increase. However, the good news is that so will the cash ...
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Sean Long: “Critical Illness Insurance Is Expensive, But It Works”

The only thing that has truly changed in the critical illness market over the years is price. So says Sean Long, an insurance consultant from Calgary, Alberta, who believes the cost has been affected in a very specific way. "The cost has not been affected by claims. What the cost has been affected by is a return on capital and a return on investments," he says, and brokers are to blame. "Agents are doing a better and better job of showing the product off, but what they're not doing is ...
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Employee Benefits: How Government Benefits Influence Plan Design

Elaine Gringauz can guide you through the changes to plan design. Canada is world-renowned for its universal healthcare, but everyone who lives here knows it doesn't cover everything necessary for your health needs, including drugs, dental, massage, and other options and necessities that make up a comprehensive health plan. For most people, it's their place of employment that steps in to fill the gap the government leaves in their healthcare coverage by providing the insurance coverage ...
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SSQ Insurance Announces Premium Increases

Due to the persistent lowinterest rateenvironmentand thevolatility offinancial markets, SSQ Insurance has announced that, effective March 1, 2013, premium rates onWhole Life 20, Whole Life 100, and Term 100 plans have increased. The average increase ranges from 9 per cent to 17 per cent. However, you still may be able to take advantage of the old premium rates if you buy from SSQ Insurance now and act quickly. This is because all applications signedprior toMarch 1, 2013, and ...
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Life Insurance Basics

Life insurance can be a confusing and intimidating topic for many people.This could be the reason that one-third of Canadians feel underinsured, according to a survey conducted by RBC Insurance. The first step to buying any life insurance policy is to determine the amount of coverage that is necessary. Thankfully, the LSM Needs Analysis Calculator is available to help simplify the process. The next step is to have a clear understanding of how different life insurance policies ...
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Even Kanye West Needs Life Insurance

Kim Kardashian and Kanye West's new Bel-Air house. Photo by Myfurnitureshowroom.net Often people consider life insurance when they have kids in an effort to make sure their kids are well taken care of should the parents pass on prematurely, but very few concerned parents are taking out life insurance policies for $10 million. Unless you're Kanye West and Kris Jenner is your future mother-in-law, you're no exception. The infamous "Momager" and matriarch of the Kardashian clan insists ...
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Updates to Assumption Life’s Flex Term Policy

Assumption Life offers a Flex Term life insurance policy. The policy is available as Term 15, Term 20, and Term 25 coverage, and thepremiums on this plan have recently been adjusted, making them more competitive at certain levels.The conversion privilege within the policy has also been extended from age 65 to age 70. This allows the insured to convert to a permanent life insurance policywithout a medical exam. The plan has a minimum face amount of $50,000 and a maximum face amount of ...
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Group Insurance Toronto: Drug Dispensing Fees

How much you pay the pharmacy to dispense your prescriptions Have you ever wanted to know what Ontario pharmacies charge for their drug dispensing fees? People are now paying pharmacies the following across the province: (more…)
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Life Insurance Toronto: Tips from Chantal Marr

Buying life insurance can be a confusing and often intimidating process. Our president, Chantal Marr, has tips for all life insurance buyers. Our own Chantal Marr, president of LSM Insurance, is here to share her expertise as an insurance broker and teacher to help simplify the process. As a member of the Independent Financial Brokers of Canada, she's worked with every major insurance company in this country, so there's no question she knows her stuff. The following are her five ...
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What is Adjustable Whole Life Insurance?

Adjustable whole life policies are permanent policies that provide lifetime protection but do not offer guaranteed premiums. At first glance, this may not seem like a good deal for the consumer. However, given that historically low interest rates have forced many Canadian life insurance companies to either pull permanent life insurance products from their product shelf altogether or significantly increase their premiums, many carriers have raised guaranteed permanent life insurance ...
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