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Life Insurers Increasing The Use of Big Data and Predictive Analytics

Big data has become a topic of great interest in the insurance industry over the past few years. Not just ordinary; the main focus has turned to big data. Responses from insurance companies indicate that harnessing the power of big data has become an important factor in the predictive analytics framework. This information can be a huge benefit regarding decisions about pricing, underwriting and the company's overall business strategy. Most industries have already caught the Big Data bug ...
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We’ve Got The Answers: How Long Do I Have To Quit Smoking Before Applying For Life Insurance?

Today's Question: How long do I have to quit smoking before I can apply for an individual Life Insurance Policy? You do not have to quit smoking in order to apply, but keep in mind that smokers do pay higher premiums than non-smokers. To apply as a non-smoker, however, the rule of thumb is 12 months where you have been smoke-free - including nicotine or nicotine substitute products. For preferred rate plans, the period can be longer. What you want to do is talk to a broker who works ...
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We’ve Got The Answers: I Was Recently Declined, What Are My Options?

Today's Question: I was recently declined for Life Insurance, what are my options? If you were recently declined for life insurance, there is no need to panic; there are options. You need to first figure out why you were declined - doing so will aid you in taking the next few steps. If you were declined for a significant reason, i.e., any serious medical condition, you may want to look into a No-Medical Insurance Policy. For less serious medical conditions, you may qualify for ...
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How Much Life Insurance Do You Need?

**The following post is a guest blog from our friends at** The truth is, there’s no “right” answer to the question of how much life insurance you need. There are various factors, including how accurate you care to be. Formulas vary: Simple: Generic “rules of thumb,” such as 5-10 times your annual income Sophisticated: Take the present value of projected cash flow shortfalls in a comprehensive financial plan Your situation changes and requires regular review. For ...
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What Makes SSQ Insurance Plans Different – Q & A with Barry Rubin

We recently reached out to Barry Rubin, Director of Business Development at SSQ Financial Group to answer some questions and give us a breakdown of SSQ's unique offerings. Here is what he had to share with us: Can you tell me a little bit about your background. How did you get started in the insurance industry? After completing a program in hospitality and tourism management, I never really had an interest in pursuing a career in the field. Having family in the business, I was always ...
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Empire Life’s New Whole Life – 8 Pay

Empire Life is one of the few insurance companies that offer clients “Permanent Participating Insurance.” For many years, participating policy holders have enjoyed the benefit of being paid dividends on their policies. The company has two types of permanent participating life insurance products: Optimax Wealth, which provides cost effective life insurance coverage, early cash values and tax deferred savings accumulation. EstateMax life insurance offers a variety of estate ...
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What The Financial Experts Own – Ken Doll

Kenneth Doll, BA, B.Comm., MA, CFP, CLU, TEP Certified Financial Planner,Wealth Architects Inc. Ken is a leader in providing Financial Planning and Insurance Advisory solutions to Albertans. He has over two decades of experience in helping clients protect their assets, secure their lifestyle, insure their income and save for retirement as well as reducing their taxes both now and in the future. Along with earning his Certified Financial Planning ...
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Universal Life Insurance: Pros and Cons

What is Universal Life Insurance Universal Life Insurance gives you flexible, cost-effective coverage that lasts a lifetime. It can be personalized to suit your changing needs and has a combined tax-advantage investment component that you can manage according to your risk tolerance and financial goals. Universal Life Insuranceallows you to adjust your premium payments (reasonable limits apply) as your needs or situation change. Thus, three key features of this life insurance ...
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Canadians Rarely Solicited by Life Insurance Agents

Most Canadians understand the importance of insurance. When you buy a car or a house, you must buy insurance – the finance company insists on this and the law requires it, especially car insurance. However, even though they know they also need life insurance, they are rarely asked to buy any. A recent Ipsos survey discovered that nearly 70% of Canadians have never been solicited by an insurance broker or agent. Results of the survey were released at the Insurance and Investment ...
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How Canadians Can Save Money on Prescription Medication

In Canada, we enjoy a universal health-care system that provides us with emergency medical treatment, regular health check-ups and hospital care. Unfortunately, this publicly funded system doesn't cover all of our prescription medications. This means that aside from meds given to you while you are in the hospital, the majority of Canadians have to pay for their prescription drugs themselves – either through an insurance plan or out of pocket. Prices for prescription drugs in Canada are ...
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