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Great West Life’s Child Critical Illness Plan

Protect your child's future with Great West Life's Child Oasis Great West Life has a unique Citical Illness insurance plan for children "Child Oasis". It's designed to provide families with the financial resources necessary to support the recovery and care of a child with a critical condition. It also helps insure their future insurability. Some of the features and optional benefits of the Child Oasis plan are the following: A lump sum benefit of ranging from $10,000 - ...
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Understanding the Disability Waiver of Premium

The Disability Waiver of Premium rider takes financial stress away, so you can still play sports like you use to. Disability Waiver of Premium is a rider available on most life insurance policies.However, most insurance companies have a maximum issue age on the rider of 60, so applicants over that age will not be able to add this rider. The Disability Waiver of Premium is intended to waive the insured's premiums should he or she become disabled. Essentially, the insurance company ...
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Comparing Life Insurance Rates for Men with Rates for Women

All things being equal, insurance rates for women are much less than they are for men. The reason for this is the average woman in Canada lives to age 82, while the average man lives to age 77, according to Statistics Canada. Other variables, beyond age, that impact price include, the applicant's health, smoking status and lifestyle or occupation risks. The chart below indicates the difference between insurance rates for men and women under a variety of plans from the leading ...
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Understanding Limited-pay Whole Life Insurance Plans

Unity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company. Limited-pay Whole Life insurance plans provide guaranteed level premiums, lifetime protection and the policies are guaranteed paid-up after a limited number of years. UPDATE: These policies haverecently been in the Canadian industry spotlight in Canada. Historically low interest rates have reduced profitability on these plans and forced many ...
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Group Insurance: What Happens if I’m Double Covered?

With double coverage, your spouse's plan has your back When both spouses work outside the home it's almost certain that the couple is over-insured. This happens when each spouse is insured through an employee group benefit plan at work, but they are also named as dependents on each other's respective plans. There's nothing to fear though, this problem is typically remedied by each insurance company coordinating the insured's benefits. Coordination of Benefits gives insured individuals ...
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Mortgage Insurance and Post-Claim Underwriting

Mortgage insurance can be a trap Creditor insurance is one of the most profitable products in a bank's line-up. Often sold using high-pressure tactics, many borrowers are backed into a corner and feel like they have to make the purchase or else lose their existing loan. What many don't know is this form of coercive selling is illegal. A company is not allowed to provide a product or service on the condition that their customer purchase an additional product from the same, or a ...
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Disability Insurance – Comparing Definitions of Disability

When analyzing your disability insurance needs it's very important to understand the fine print of your contract. Unlike life insurance there is much more grey area surrounding what qualifies for a claim. The definition of disability used in a disability contract can have a direct impact on the insureds ability to collect when he/she needs the money most. Below are three definitions of disabilities used in most injury and illness insurance contracts. Any Occupation Under this ...
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Moneysense.ca: Parent’s dilemma

The Novaks, have a sick child - and a growing financial problem by Julie Cazzin Novaks are living every parent's nightmare. Two years ago, their 11-month-old son Leo fell sick. He suffered for days with what his parents thought was the flu. Then he developed a rash and began to cry in constant pain. For six months, the Novaks ferried Leo from one doctor to another in their hometown of Sudbury, Ont. Nobody could identify his problem. (more…)
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Step Up for the Children

Over 4,000 participants are expected to attend the 26th edition of Step Up for the Children with Standard Life, to be held on Saturday, June 14 on Ile Sainte-Hélène at Parc Jean-Drapeau in Montreal. The event will begin at 8:30 a.m. with the 10-km race, followed by the 5-km family walk at 10 a.m. Event ambassador and Montreal Canadiens defenceman Francis Bouillon and child spokesperson Valérie Bernier will open the walk. It will also be a fun celebration for ...
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