Life Insurance Canada News Archives

How to Sell Your Book of Business

As insurance and investment advisors reach retirement age, they start thinking about divesting their books of business and selling it to the next advisor who can manage the needs of their various clients. However, there are a few things every advisor should know going in when they’re about to take the plunge and sell their...

What To Do Before Your Life Insurance Medical Test

When applying for life insurance, the insured often has to complete medical tests. These medical tests can include blood pressure checks, blood profile tests, urine analyses, or ecocardiograms. Though these tests are harmless, they should still be taken seriously and adequately prepared for. Some of the things the insured should keep in mind before completing...

Canada’s Net-Worth Tops the United States

As reported in the December/January 2012 issue of Money Sense, Canada’s average median citizen’s net worth has topped the United states. A Credit Suisse 2011 Global Report found that Canadians are now officially wealthier than Americans. The median net-worth per adult in Canada is $89,014 US, but in America, it’s $52,752 US. The median amount...

Tips for Scoring Well on your Life Insurance Medical Exam

Life insurance applications are often accompanied by medical tests. The following are some tips for passing the most common life insurance medical tests: Blood Pressure The best readings are taken in your least stressful environment. Try and minimize any caffeine, as this can impact blood pressure readings, along with stress. If you require an oversized...

TD Insurance’s Critical Illness Report

As reported in the Investment Executive, TD Insurance recently polled 1,000 Canadians in its 2011 “State of Insurance” report. Of those surveyed, 65% had children but did not have critical illness insurance. Critical illness insurance provides clients with a lump sum payout in the case of a life-altering illness. Most base critical illness policies cover...

What is a Term Life Conversion Option?

Most term life insurance policies in Canada are convertible, but what exactly does that mean, “Convertible,” and what factors are important when considering this option? A term conversion means that the insured can convert their term life policy to a permanent policy without a medical. This can be a big advantage if the insured’s health...

Life Insurance Endowment Policies in Canada

The popularity of life insurance endowment policies has decreased significantly over the last few decades, and such policies are not offered by the majority of life insurance companies in Canada. Life insurance endowment policies have a death benefit that is paid out if the insured dies before the endowment period. They also have cash value...

How Long Does the Average Canadian Live?

If you were a newborn Canadian today, you could expect to live 80.7 years, according to a 2010 report from Statistics Canada. Canadians over the age of 65 can expect to live longer, an additional 21.3 years. Average life expectancy has also closed between the genders, rising by 2.9 years to 78.3 between 2005 and 2007...

Gerber Life’s Grow-Up Plan

Gerber Life Insurance Company has been operating since 1967 and specializes in working with young families on a limited budget. They are licensed to buy life insurance throughout the United States, Puerto Rico, and Canada, where the Grow Up Life Insurance policy is available in all provinces except Quebec, and is unavailable in the territories....

Michael Roby Recommends an iPad for Financial Advisors and Insurance Brokers

Blogger Michael Roby endorses the iPad for brokers. In his blog at MichaelRoby.com, Roby highlights eight ways an iPad can improve the productivity of financial advisors and insurance brokers. Roby writes that the iPad is the perfect size and provides insurance brokers the opportunity to download free applications that allow them to keep up with...

Life Insurance Premiums In Canada Are on the Rise

As reported in the August 2011 issue of the Insurance and Investment Journal, LIMRA discovered that life insurance premiums for all networks combined increased by 9% in the first quarter of 2011 compared to the same quarter in 2010. Also, if we look at premiums, whole life insurance sales advanced by 19%, compared with 18%...

Life Insurance: Revocable vs. Irrevocable Beneficiary Designations

Life insurance policies can have either a revocable or irrevocable beneficiary designation. A revocable beneficiary can be changed by the owner of the policy without the signature of the beneficiary. Most life insurance policies in Canada have Revocable beneficiary designations. An irrevocable beneficiary requires the beneficiary to sign off on any policy changes. Therefore, should...