Life Insurance for Women – Two Steps to Right Insurance
1. Are you sure you should be working?
Are you a busy mom? Do you think about getting a job after your maternity leave? Women often think that they can contribute much more to their family budget by working instead of staying at home, but often the reality is different.
Our Child care calculator will illustrate to you the advantages and disadvantages of becoming a working mother in 3 easy steps. By entering your approximate yearly income, your childcare costs and other costs like clothing, traveling or meals, this tool brings you to discover your real annual income into your family’s budget.
Try it on our website!
2. Calculate your insurance needs and get an instant quote
Try our online Women’s Life Insurance Needs Calculator and find out which coverage amount would fit best to your needs and lifestyle. Our calculator will show you how expensive would it be to replace your contribution to your family’s budget and help you decide which amount of coverage would be fitting to your needs.
If you feel like you don’t need the calculation just skip it and get a quote about the right insurance for you now!
More articles about Life Insurance for Women
High net-worth individuals want a single advisor. High net-worth individuals are a key demographic when it comes to life insurance. However, with their complicated financial investments and riskier lifestyle, their life insurance needs can be very complex. The Investment Executive published an article in its August 2013 issue on what high net-worth individuals want. The premise of the article was that Canada's high net-worth individuals preferred one life insurance advisor, rather than ...Continue reading
Most Canadians don't really understand life insurance. It's no secret that the majority of Canadians don't really understand life insurance. And now there's a survey to confirm that trend. BMO Insurance released a poll in mid-july 2014, showing that88% of Canadians are not very familiar with the different types of life insurance. In addition,while 74% of those Canadians polled have some type of insurance either through their employer or personal policies, 70% of those ...Continue reading
Remember when actor Michael Douglas told The Guardian that his throat cancer was caused by HPV, (human papillomavirus), which he said was in turn caused by oral sex? If you need us to refresh your memory, here is the exact quote:Xan Brooks: Do you feel, in hindsight, that you overloaded your system? Overloaded your system with drugs, smoking, drink? Michael Douglas: No. No. Ah, without getting too specific, this particular cancer is caused by something called HPV, which actually ...Continue reading
The average commission generated by a life insurance policy varies depending on the type of life insurance in question. For example, the average commission on term insurance is 30 to 70%, while it is 90 to 105% on whole life insurance products. Of course, what we're talking about here are the first year commissions, commissions for subsequent years drop much lower to an average of 4% a year for term insurance and 6% annually for whole life insurance. Life insurance commissions are ...Continue reading
Consuelo Hermogino's life couldn't have been better. A new immigrant to Canada from the Philippines, she was about to get married to the love of her life, Bob Lavigne, after meeting him at a church in Regina, Saskatchewan, five years ago. She was finally able to bring her kids to Canada after ten years splitting her time between Taiwan and Canada before she could bring them over. Everything seemed to be going well, but then, after only being reunited with her children for seven months ...Continue reading
According to the Canadian Life and Health Insurance Association, 22 per cent of the people who request a search for lost life insurance policies find one, and in about 25 per cent of those cases, the policies had actually been surrendered for their cash value or simply lapsed. However, the rest revealed unclaimed benefit amounts ranging from $3,500 to $210,000. The search is free to undertake, but there is a time limit. You only have a window of three months to two years following the ...Continue reading
Life insurance is not just for men anymore. Gone are the days when all the information about life insurance was skewed towards men. Chantal Marr, President of LSM Insurance, is perfectly aware of the fact that more and more women are becoming financially independent. Their lives are often full of unique challenges such as raising children, managing their household, caring for elderly parents, or balancing a career and home life. Together with their financial obligations such as loans and ...Continue reading
Universal life insurance rates for women differ from those of men because females tend to live much longer. According to Statistics Canada, women actually live 4.7 years longer than men, which is why universal life rates are less for females than they are for males. Universal Life policies separate the investment component from the insurance element of a Permanent life insurance policy. They have flexible premiums and can have a level or an increasing death benefit. (more…)Continue reading
Over the past few decades, women have emerged as near-equals in the workforce but they still do not carry the amount of insurance as men. While in the past home-schooling, transporting children, cooking, house-keeping, and running household tasks were the only responsibilities for most women, nowadays the situation is a bit different. In many families, many women are now enjoying their own careers. They are often full-time employees or even business owners. Nobody is surprised to hear ...Continue reading
According to statistics, a huge proportion of high-income women believe that life insurance is just an extra expense and that they don’t need it at all. Another part of the female population is convinced that it’s enough when their partner is covered. Others are simply put off by the complicated process of selecting the right insurance product. (more…)Continue reading
Guaranteed issue life insurance policies have no medical test and no health questions. The premiums for guaranteed issue life insurance policies are lower for females. The rationale being that females live longer than males. After all, Statistics Canada reports that life expectancy at birth has reached just over 81 for women and just over 78 for men. For those over age 65, life expectancy has reached just over 83 for men and a little over 86 for women. The other type of no medical ...Continue reading
Though the earning gap between men and women still exists in Canada, it is closing and more and more women are pursuing careers, while their men stay home and take care of the kids. Women also significantly outnumber men when it comes to enrollment and graduation from university. Still, according to a survey conducted by Catalyst Canada in 2011, women held only 14.5% of Financial Post 500 corporate board seats and In January 2012, 4.5% of women were company heads at those corporations. ...Continue reading
In a stunning ruling by the Ontario Court of Appeal, a man who murdered his wife in 2006 was found to be entitled to her life insurance benefits, as originally reported by The Toronto Star. Two years after her death, Ved Dhingra was found not criminally responsible for the second-degree murder of his wife, Khamlesh Dhingra, after being diagnosed with schizoaffective disorder and possessing a history of hospitalization and suicide attempts. (more…)Continue reading
Life insurance premiums can be pretty expensive even though they're one of the most worthwhile investments you can make for the future of your family. Luckily, LSM is sharing the tricks of the trade, which will allow you to still protect your family without sending yourself to the poorhouse. The following are six ways you and your family can save thousands of dollars when buying a life insurance policy: (more…)Continue reading
It should be no surprise to anyone that women live an average of five years longer than men, but it may surprise people that only 40 per cent of women have ever breached the topic of life insurance with their partners.This is according to The Toronto Star's Moneyville Blog and a survey from TD Insurance. Thankfully, more women are at least buying life insurance today. According to a study conducted by Nielsen in 2010, women accounted for 10 to 15 policies out of every 100 sold — ...Continue reading
Joint first-to-die policies don't show the same savings as two individual life insurance policies. Joint first-to-die life insurance policies cover both individuals (almost exclusively spouses) under one policy, while individual life insurance policies create two individual plans for each insured. Some companies offer multi-life policies, which are essentially individual policies, but under one plan. Unlike joint first-to-die policies, multi-life policies stipulate that if one spouse ...Continue reading
BMO Insurance offers a Easy Term 10 Life Insurance plan direct via their call centre. The plan uses age-nearest pricing, and the following are the rates at$50,000, $100,000, $150,000, and $200,000 for 40 and 50-year-old, male and female non-smokers: 40-year-old, female non-smoker $150,000 of Term 10 coverage is $ 8.37 a month. $100,000 of Term 10 coverage is $12.24 a month. $150,000 of Term 10 coverage is $16.11 a month. $200,000 of Term 10 coverage is $19.98 a ...Continue reading
In 2010, approximately 4.5 million Canadian adults (18% of all Canadians) reported height and weight parameters that classified them as obese according to the Body Mass Index guidelines of Health Canada. Between 1985 and 1995, the percentage of obese Canadians rose dramatically, and now again, between 2003 and 2010, obesity among men rose from 16% to nearly 20%, and from 15% to 18% among women. Add to that the fact that half of Canadian adults (52%) reported height and weight that ...Continue reading
So something has happened to you or your family, but thank goodness, you have insurance, and now it's time to file a claim. But how is that done exactly? What do you need to do to prepare?Don't stress! We'll show you... Life Insurance Policies Filling out paperwork is the last thing you want to do when you lose a loved one who has named you his or her life insurance beneficiary, which is why we at LSM Insurance try to make the paperwork as painless as possible. Still, here are the ...Continue reading
LSM Insurance has been providing life insurance solutions to Canadians for just under 20 years. Our team of experts helps unravel the mystery of life insurance and answer questions like the following:How much life insurance do you need? What is the best type of life insurance plan? Which life insurance company has the the best rates? Will my occupation effect my premium? How much more will I pay because I smoke and how long do I have to quit smoking to get a ...Continue reading
Canada Life increased rates on its Universal Life Level Cost of Insurance, and Limited Cost of Insurance policies, as of February 7, 2011. The increases followed rate hikes by Manulife, Industrial Alliance, and Equitable Life. Many Canadian insurers have had to re-evaluate the pricing of their Universal Life policies as a result of continually, historically low interest rates. As a result, clients will see the following changes: (more…)Continue reading
Elisabeth Prosper was born and grew up in Haiti before heading to France where she completed a Master Degree in Economics at the University of Aix-En Provence. Currently, she is a fully-licensed life insurance broker and as LSM Insurance's Whole Life Insurance specialist, Elisabeth can serve her clients in three different languages -- English, French and Creole. Whole life insurance, as the name implies, is insurance which provides coverage for the policyholder's entire ...Continue reading
Chantal Marr was born in Quebec and raised in Thornhill, Ontario. She completed her Bachelor of Arts at Laval University in Quebec City and a Bachelor of Education at the University of Western Ontario. She is bilingual in both English and French, has a passion for helping people and possess very strong organizational and leadership skills. This is why, at LSM Insurance, she is in charge of productreviews and works closely with our team of brokers. In her vital role she has seen a ...Continue reading
Tamara Humphries would be happy to help you with your non- medical insurance needs. Tamara Humphries was born in Sudbury, Ontario and has lived in many varied Ontario cities such as Kingston, Peterborough, London, Timmins, North Bay, Whitby and North York. Tamara was lucky enough to spend considerable time in nearly all of the cottage areas in this vast province, which gave her a deep appreciation for this country and all things Canadian. But it's not just her deep-seated passion for ...Continue reading
Unity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company. Term life insurance provides affordable insurance premiums for a stated term, such as 10 years, 15 years, 20 years or 30 years. The longer the term, the higher the initial premium. Most term policies are guaranteed renewable after the initial term at a much higher premium and most term policies are convertible to a Permanent Level-rate policy ...Continue reading
Women pay a much lower premium for Whole Life policies than men. The following looks at the top three carriers for $250,000 worth of Whole Life 20-Pay coverage, i.e. the insured is covered for life and the policy is paid-up after 20 policy years. (more…)Continue reading
Critical Illness insurance pays a lump sum if the insured is diagnosed with a critical illness, such as cancer. The number of illnesses considered critical can vary from carrier to carrier. The type of plan (Term or Permanent) along with plan riders -- such as a return-of-premium if the insured stays healthy -- can also influence the plan premium. The following is a snapshot of Level Term to Age 75 Critical Illness coverage at $250,000. Level Term to Age 75 means that the insured will ...Continue reading
In addition to the ravages of the disease, it's no secret that breast cancer patients face a gargantuan financial burden. As reported by the Vancouver Sun, The Canadian Breast Cancer Network has released a survey that "firmly places breast cancer as an economic as well as health issue." Of the 400 women polled, 80% say they have "experienced some kind of financial hardship from the disease." These include, lost income because they've had to take time off work for treatment and ...Continue reading
BMO Insurance's Well Woman Insurance covers the insured, if they are diagnosed with cancer of the breast, fallopian tubes, cervix, ovaries, uterus, vagina or vulva. The plan provides cash on diagnosis, a monthly income benefit for a year and cash, while the insured is in hospital, or when they require surgery. The total cash payout would be between $25,000 or $50,000.Additional benefits of the plan include: 1. The plan offers guaranteed acceptance, and no medical exam for women ...Continue reading
All things being equal, insurance rates for women are much less than they are for men. The reason for this is the average woman in Canada lives to age 82, while the average man lives to age 77, according to Statistics Canada. Other variables, beyond age, that impact price include, the applicant's health, smoking status and lifestyle or occupation risks. The chart below indicates the difference between insurance rates for men and women under a variety of plans from the leading ...Continue reading