Life Insurance Canada News

Life Insurance and COVID Vaccines – What We Know Today

Life insurance and vaccines: Most recent developments(updated on March 18, 2021) Many countries are currently in a process of rolling out various vaccines such as Comirnaty (BNT162b2) from Pfizer Moderna COVID‑19 Vaccine (mRNA-1273) COVID-19 Vaccine AstraZeneca (AZD1222) also known as Covishield COVID-19 Vaccine Janssen (JNJ-78436735) from Johnson & Johnson, and Several other vaccines See the...
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Disability Insurance – Why Do You Need it: Expert Opinions

A number of industry experts and thought leaders weigh in on why disability insurance is important for Canadians. Click on the thought leader’s picture below to explore their perspective or click here to see the summary. Cory Budovitch: “A machine that would produce 10 million over the next 25 years” Many people feel like their...
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Participating Life Insurance – Everything You Must Know

What is participating life insurance? Participating life insurance is a policy that pays dividends to a policyholder, allowing them to benefit from the profitability of an insurance company. Typically, a participating life insurance policy is a whole life insurance policy that comes with both an insurance component and cash accumulation component (unlike term life insurance...
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Corporate Owned Life Insurance: Everything You Must Know – and More

Life insurance sounds boring and straightforward right? Not so fast! When you have corporate owned life insurance, it gets a lot more interesting. Why? Because it directly involves reducing and eliminating tax. Now that I have peaked your interest let’s do a deeper dive into the ins and outs of corporate owned life insurance. Corporate...
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Top Life Insurance Mistakes: Experts’ Perspectives

What are the top life insurance mistakes? A summary: There are numerous life insurance mistakes Canadians are making, and who qualifies better to talk about these mistakes than life insurance experts? We asked numerous life insurance experts to weigh in on the top life insurance mistakes they have seen throughout their careers. You can find...
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Why Is Life Insurance So Important? An Industry Perspective

A number of industry experts and thought leaders weigh in on why life insurance is so important. Click on the thought leader’s picture below to explore their perspective. “Financial instrument that creates such powerful leverage…” As someone who has spent the vast majority of my career in the income protection business, I have seen close...
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Term 100 Life Insurance without a Medical Exam: What is This?

In today’s publication we discuss one of the newer products, Term to 100 without a medical exam. We’ll be using Humania’s Term to 100 without a medical as an example. What is Term to 100 life insurance? Term 100 is a permanent life insurance policy because it covers a lifetime without expiring. The premiums never...
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Buy/Sell Agreements and Insurance: What You Must Know

What are buy/sell agreements? In a way, a business partnership can be compared to a marriage. It may help to think of a buy/sell agreement as a sort of “prenup” between business partners. The buy/sell agreement is a contingency plan that outlines the conditions under which a partner’s interest in the business will be bought...
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Immediate Financing Arrangement | Key Things to Know

Every business owner is familiar with the old saying, cash is king. When you have it on hand, cash provides stability and the capacity for growth when opportunities arise. Since cash is the lifeblood of any business, shareholders struggle when it isn’t close by. Frankly, many view the purchase of life insurance as a threat...
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Mortgage Insurance: Everything You Must Know

There have been many articles written about mortgage insurance vs life insurance, but many of them reflect only on particular aspects of this topic. In many cases, it is a lending institution (e.g. your bank or credit union) that offers mortgage insurance. We spoke to Amir Eny, an independent life insurance broker, to highlight key...
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Whole Life Insurance and Taxes: Everything You Must Know

Whole life insurance has tax saving efficiencies, but those efficiencies are often very misunderstood. To gain an understanding on how best to leverage your savings in a tax-sheltered whole life insurance policy, we talked to Cory Budovitch, Owner of Budovitch Legacy Planners Inc. and Brent Swatuk, Advanced Case Consultant at Equitable Life. Both of these...
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Life Insurance and Estate Planning

While it’s true that you can’t take it with you when you die, you still need money when you pass away. Many people work hard their entire lives to build assets, with the intent to eventually pass on an inheritance to their loved ones. A will is a good starting point, provides a roadmap for...
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