Life Insurance Canada News Archives

20 Ways to Save Big on Life Insurance | Experts explain

Introduction Life insurance is a critical component of comprehensive financial planning, offering essential protection for individuals and families. However, it can also be a complex product, with various types and features (e.g. term life insurance, whole life insurance, no medical life insurance) that can impact both coverage and costs. Given its long-term nature, the savings...

Do CPP and OAS Bridge the Retirement Gap? Discover What More You Can Do

Retirement and Financial Challenges Despite soaring costs in Canada, particularly in real estate, the incomes of Canadians have not kept pace with the increased cost of living. Both average and median incomes have grown at a slower rate than the consumer price index (CPI). From 1980 to 2022, the average and median salaries increased by...

Top 55 Canadian Personal Finance Blogs: The Ultimate List

Personal finance blogs have been offering insightful tips and financial advice to Canadians for years, some for decades. So, we have compiled for you a list of the top 55 personal finance blogs. This list does not include big corporate blogs of financial institutions or insurance companies, though we recognize that many of them offer...

Critical Illness Insurance – What Does it Cover?

What Does Critical Illness Insurance Cover? Critical illness insurance is a unique type of policy that provides you with a lump sum payment if you are diagnosed with specific illnesses. You have the freedom to use this lump sum however you choose, whether for medical treatment or other personal expenses. It’s important to note that...

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...

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...

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...

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...

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,...

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...

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...

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...