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Which Life Insurance Companies Have the Best Rate?

When it comes to which life insurance companies have the best rate, the answer is the product of the following variables: 1. The Type of Plan– Life insurance can be divided into term policies and permanent policies, and permanent policies can be further divided into term 100, universal life, and whole life insurance policies. Most life insurance companies in Canada have been raising their rates or removing their term to 100 policies and universal life level-cost ...
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I.A. Excellence: Five Key Benefits to Dealing with Them

Five benefits of doing business with I.A. Excellence Photo USDAgov If you're thinking about buying insurance from A.I. Excellence, these five points in their favour may push you over the edge. 1. They've been in business for over 50 years. 2. I.A. Excellence is part of the Industrial Alliance group of companies, which is among the most solid financial institutions within Canada. 3. Their life insurance lineup includes Term, Whole Life, and Guaranteed Issue Life Insurance. (more…)
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Desjardins Insurance Multi-Coverage Discount Option on Term Life Policies

Desjardins Financial Servicesoffers a unique, multi-coverage discount option on their term insurance lineup. Desjardins offers Term 10, Term 20, and Term 30 policies. All coverages are guaranteed renewable and convertible as well as available on a preferred rate basis for individuals who are in very good health and have a very good family health history. (more…)
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Foresters Removes its Term to 100 Product from its Portfolio

Foresters has withdrawn its Term to 100 product from its policy repertoire. Beginning May 1, 2012, Term to 100 will be withdrawn from its product lineup. According to the company, historically low interest rates are to blame. "Low interest rates have diminished the viability of this product. Rather than raise prices to unrealistic levels, we have decided to withdraw Term to 100," announced Foresters. (more…)
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No-Medical Simplified Issue Critical Illness Plan

Industrial Alliance offers two no-medical simplified issue critical illness plans. Both plans cover the following four illnesses: Cancer Coronary Artery Bypass Surgery Heart Attack Stroke Both plans are available without a medical exam to applicants aged 18 to 60. The minimum issue limit is $10,000, and the maximum issue limit is $100,000. (more…)
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Guaranteed Issue Life Insurance for Seniors

Update: Oct. 2, 2015 When this post was originally published, BGS had ceilings on coverage levels, $500,000 for the Life Protection and $3,000 per month for the Disability Protection. They have since been able to get those coverage limits removed. So applicants can now purchase as much coverage as they qualify for based on their income for Disability Protection and outstanding mortgage loan amount for Life Protection. Guaranteed issue life insurance provides life insurance without ...
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Joint First-to-Die Life Insurance

Joint first-to-die policies don't show the same savings as two individual life insurance policies. Joint first-to-die life insurance policies cover both individuals (almost exclusively spouses) under one policy, while individual life insurance policies create two individual plans for each insured. Some companies offer multi-life policies, which are essentially individual policies, but under one plan. Unlike joint first-to-die policies, multi-life policies stipulate that if one spouse ...
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Bingham Group Services Corp: BGS Mortgage Insurance Policy

Bingham Group Services Corp. (BGS) is Canada's leading third-party administrator in the business of creating marketing and administering group creditor insurance products. BGS products are underwritten by Forester's Life Insurance Company, which is a Canadian incorporated life insurance company providing financial security to Canadians. Foresters originated in 1898 as the insurance department of the High Court of the Ancient Order of Foresters. They have been assigned an A minus ...
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Term Insurance Rates Cheaper Than Ever

As reported in the March 2012 issue of The Insurance and Investment Journal, 10-year term life insurance rates have reduced in cost drastically over the years. The article cites many examples of companies that have significantly reduced their premiums. Transamerica Life for example, offered a 40-year-old, male non-smoker $500,000 of Term 10 coverage in 1998 at a rate of $510 per year and that same 40-year-old male non-smoker can now get $500,000 of Term 10 coverage for $365 a year. ...
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Whole Life Insurance for Seniors

Whole life insurance comes in two types of plan varieties. Firstly, there is participating Whole Life Insurance, which offers guaranteed premiums, lifetime protections, and both a guaranteed and non-guaranteed cash value. The non-guaranteed cash value comes in the form of a dividend and is related to the insurance company's profitability as well as long-term interest rates. Non-participating whole life insurance policies offer fixed premiums, lifetime protection, and guaranteed ...
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