Life Insurance Canada News Archives

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...

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...

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...

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...

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...

Sadly, LSM Insurance announces passing of Richard Parkinson

It is with great sadness that LSM Insurance announces passing of Richard Parkinson The insurance community and LSM Insurance, in particular, sadly lost a pillar this August, when Richard Parkinson passed away after a long fight with cancer. After a distinguished career in telecommunications, he dedicated a large part of his life to the insurance...

Life Insurance and Sky Diving/Parachute Sports

Why Extreme Sports Matter for Life Insurance Life insurance and extreme sports have an interesting relationship. Though an individual might be entirely healthy and have no pre-existing health conditions, indulging in extreme sports means a high risk of an accident. Due to that, insurance companies look closely at each situation. Examples of extreme sports include...

How COVID Changed Life Insurance In 2022: What You Must Know

The COVID pandemic has changed many industries over the course of the last two years and insurance is not an exception. Insurance companies changed the way they interact with customers, how they service them, and how they assess risks. Now, with the situation becoming more and more stable where COVID is simply an integral part...

Which Insurance Companies are the Best for Young and for Elderly People

Did you know that there are many different types of policies? Each person is unique, so a one-size-fits-all policy simply doesn’t work. There are many factors to consider when underwriting an insurance policy: your age, health, family history, pre-existing medical conditions, gender, your physical conditions (including height, weight, etc.), drinking, drugs use, smoking habits and...

How did the Pandemic Reshape the Life Insurance Industry? An Expert’s Opinion

Life insurance was one of the industries that was making advances slowly before the pandemic, but it was not known for being innovative or fast moving. Brick and mortar offices, paper applications, long processing times and old-fashioned marketing were still part of the industry. When the pandemic sent people to work from home and raised...

Assumption Life Bronze Protection – What You Must Know

As Assumption Life enters the Guaranteed Issue No Medical Life Insurance market, we use this opportunity to discuss their new product with Daniel Audet, Associate Vice President for Individual Insurance and Investments / Sales and Marketing. Why did Assumption Life decide to get into the Guaranteed Issue market? Over the past year, Assumption Life has...

How Does Inflation Affect Life Insurance? Expert Opinions

Inflation in Canada: The pandemic has changed our life over the course of the last two years. It has impacted every industry; some more than others like travel and restaurants, some less such as software and professional services. It has also had a huge impact on our society and macro-economic metrics. One such metric is...