Life Insurance Canada News

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...
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Sky-Diving

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...
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pandemic life insurance

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...
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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...
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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...
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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...
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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...
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Comparing Disability Insurance Rates for Men and Women: Who Pays More

Introduction It is a well-known fact that typically, men pay higher rates for both car and life insurance. This is because male drivers are higher risk and women outlive men. Insurance rates are always tied to risk, so the insurers look at the majority data when factoring in their pricing structures. However, car and life...
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Life Insurance for Business Owners: Everything You Must Know

The last two years brought a lot of changes to our lives, but also to the business landscape. The number of people working from home or that made themselves more independent by setting up their own company significantly increased in many areas. Some industries, for example, the travel industry, shifted their staff mix significantly from...
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Disability Insurance in 2021 and Beyond: What Changed During the Pandemic

Similarly, to other types of insurance, disability insurance faced a number of challenges during the pandemic and has adjusted to the new landscape. It’s important to understand what has changed, which changes are here to stay, and what to expect going forward. To understand disability insurance’s evolution during the pandemic, Thomas Juha, Senior Sales Consultant,...
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Critical Illness Insurance in Canada in 2021 | What You Must Know

Why Critical Illness Insurance? What is Critical Illness Insurance? What Are Various Conditions Covered by Critical Illness Insurance? How Much Critical Illness Insurance do I need? Changes in Critical Illness Products During the Pandemic and Beyond Difference Between Medically Underwritten and No Medical Critical Illness Insurance Traditional Critical Illness Insurance Simplified Critical illness Insurance Guaranteed...
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What Long-Term Care Insurance Options do Canadians Have in 2021?

Why there is a need in long-term care insurance After age 65 there is a 74% chance of needing long-term care in the future. It’s not just seniors worrying about this; more than 40 per cent of Canadians worry about how to provide, and afford, care for their parents as they age. Seniors are worried...
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