Life Insurance Canada News


How Much Money Do You Need to Retire in Canada? | A Detailed Analysis

Background: What Drives Financial Concerns Around Retirement? Despite soaring costs in Canada, especially on the real estate side, the incomes of Canadians have not grown fast enough to keep pace with the increased cost of living. Both average and median incomes have not climbed as quickly as the consumer price index (CPI). This means, the...
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Critical Illness Insurance for Business Owners

Critical Illness Insurance for Business Owners | Ultimate Guide and Costs

Why Business Owners Need Critical Illness Insurance Business owners often plan for the death of key persons or the succession of retiring founders, but many overlook a very important piece of the puzzle – what happens if a key person or owner is critically injured but does not pass away? This person is unable to...
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Technology Trends

5 Technology Trends that are Impacting Insurance in 2024

The insurance industry is known for being conservative when it comes to adoption of technology. However, this trend is currently changing for more and more insurance companies. Today we are getting perspectives from several experts who are deeply involved in insurance tech. They share their thoughts with respect to life insurance and technology. Alexey Saltykov...
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2024 Canadian Life Insurance Industry Outlook: Expert Opinions

Background: As we approach the end of the year, it’s a time of reflection and planning for many individuals and organizations. Among the many considerations that people grapple with, one that often rises to the top is the need to reassess life insurance. This period presents an opportune moment for people and businesses to review...
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Life Insurance and Genetic Testing / DNA Testing

Genetic Testing: Background Genetic testing (also called DNA testing), as a scientific procedure, involves examining a person’s DNA—the special molecules that dictate how our bodies form and function. This testing can reveal changes or mutations in genes that may cause illness or disease. Genetic tests are available for a variety of diseases such as cancer,...
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Life Insurance and Transgender People

Background: transgender people and life insurance risk Historically, gender has been a significant factor in the insurance application process. However, the issue extends beyond merely classifying applicants into one of two gender categories. A considerable number of individuals identify as transgender, leading insurers to develop unique approaches for these application scenarios. Let’s delve deeper into...
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What Happens if My Life Insurer Goes Bankrupt? Expert Explains.

Life Insurance Company Bankruptcy: Background Wondering what would happen if your life insurance company went bankrupt? It’s a valid question and there is prescient for this. So, let’s dive and learn what the risk is, and what protection consumers have when life insurance companies go bankrupt. Even the most reputable insurance companies can face financial...
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How Bankruptcy Impacts Your Life Insurance Application

What is Bankruptcy and How Does it Impact Insurance? Bankruptcy is a legal process that allows individuals or entities who are unable to pay their debts to creditors to seek relief. Being bankrupt or having a history of bankruptcy can make an individual a riskier prospect for life insurance companies, as they may not be...
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4 Ways to Save in a High-Interest Environment | Tips and Examples

Inflation can take a serious bite out of your savings. According to Statistics Canada, there was 5.2% year-over-year inflation in February 2023. This is actually a decrease from the preceding months, but sky-high compared to the past four decades. Before this past year, many Canadian adults had never experienced high, sustained inflation. In an unpredictable...
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How Monitoring Your Own Activity Saves Money on Insurance for Millennials and Gen X

Manulife Vitality, a program that rewards policyholders for making healthy choices with the help of technology, is helping people save money and live better. Read on to learn more. What Does Activity Monitoring Have to Do with Insurance? The idea of combining technology and insurance is not new. In particular, activity monitoring has become a...
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interest rate increase

Getting a Mortgage with Interest Rates Increase in Canada: Expert Tips

Canadian interest rates changes: The topic of interest rates impacts numerous aspects of daily life. While the interest rates in Canada have been low for over a decade, last year Canadians saw unprecedented rate increases, reaching levels last seen in 2008. The chart below illustrates the evolution of the interest rates between January 2015 and...
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Everything You Need to Know about Life Insurance and Taxes

Why is Topic of Taxes Relevant for Life Insurance? Life insurance is one of the most widely used life and living benefits insurance products, but there are still a lot of questions related to life insurance and taxes. Three different aspects play into the discussion of taxes and life insurance. It is important to understand...
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