Permanent Insurance

Explained by an Expert: What is a cash surrender value?

 I’m going to talk a little bit now about cash surrender value and how it works in terms of a life insurance policy. Generally, cash surrender values apply to permanent policies, and permanent policies can be whole life coverage, can be Term-100, or can be universal life. Most Term-100 policies don’t have a cash...
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All You Need to Know About Life Insurance

I’m going to talk a little bit today about how life insurance works. It can be a bit of a basic question, but at the same time, there is a lot to look at with a life insurance policy, like the type of plan: there is term insurance, which starts off lower in cost and...
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Joint Last-to-Die Life insurance: How Does it Work?

Joint Last-to-Die Life Insurance pays out a tax-free benefit to the policy owner’s beneficiary on the passing of the second spouse on the policy. Joint Last-to-Die policies are significantly less expensive when compared to individual single-life policies because the insurance company does not plan to pay out the money until much further in the future....
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Life Insurance and High Net-Worth Individuals

High net-worth individuals want a single advisor. High net-worth individuals are a key demographic when it comes to life insurance. However, with their complicated financial investments and riskier lifestyle, their life insurance needs can be very complex. The Investment Executive published an article in its August 2013 issue on what high net-worth individuals want. The...
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8 Reasons Why You Should Secure Permanent Life Insurance Before 2017

New tax legislation is set to take effect on January 1, 2017 which will change the way policyholders are taxed for deposits toward certain life insurance policies. Policies issued after 2016, also know known as G3 tax generation policies, will offer less exempt room over the long-term. This new legislation will mostly affect affluent policyholders...
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Is Whole Life Insurance a Good Investment?

Arguably, the most debated issue among life insurance consumers is whether whole life insurance is a good investment or whether you should instead go with a term insurance plan. This is the “To Be, Or Not to Be?” of the life insurance industry, as life insurance experts and personal finance columnists come down on either side...
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The Pros and Cons of Permanent Life Insurance

Permanent insurance is not an insurance product that can be taken lightly. It’s a product that is only right for certain insurance needs and circumstances that could help or hurt you, depending on how it is used. The Globe and Mail published a piece on the “Pros of Permanent Insurance” and, while all of them are...
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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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Universal Life Insurance Sales Shrink

Universal Life is losing the market to Whole Life. Historically low interest rates have caused many insurance companies to either raise the premiums on their universal life insurance policies or remove them from their product lineup all together. Well, these moves have consequences. And in a lot of ways, those consequences have now come home...
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Desjardins is Reducing its Universal Life Rates for Summer 2014

Desjardins Insurance is reducing the rates on its universal life policies until August 31, 2014. These reductions apply to the following plans under the following circumstances: Life insurance   Amount of insurance Age Comments Traditional Universal Life       Life 10 Precision 10 $250,000+ 40+ Some reductions starting at age 35 Life 20 Precision...
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