There are many kinds of life insurance, but they can generally fall into two categories, term insurance and permanent insurance. When comparing the two options you can draw parallels with your food choices, one option may have long term benefits and the other has immediate benefits. Both options are good depending on what your short term and long term goals are.
It can be a time consuming undertaking, but if you have children or other dependents, life insurance should be of utmost importance. Few who have bought life insurance have been able to avoid the debate over term vs. permanent insurance. The wrong type of coverage can have an impact on your financial plans.
Les Herr CEO of Empire Life explains this giant step forward.
Agreement for Group Benefit Plans
The Canadian life and health insurance industry announced an industry-wide drug pooling agreement to help mitigate the impact of high drug costs on fully insured plans; the agreement ensures the long-term sustainability of group drug plans in the face of increasing costs of high-cost catastrophic drugs.
You may have already completed a life insurance needs analysis and determined how much coverage you need, but do you know how to pay for it? Your temporary needs may become permanent, but the cost of coverage may seem too high right now. So what do you do?
Empire Life has a solution that takes the worry out of having to choose which type of life insurance to apply for.
Empire Life Solution 10 & Solution 20 looks like and is priced like term life insurance, but the plans provide coverage for life.
As of December 2, 2011 Canadians may be eligible to apply for a parent or grandparent’s “Super Visa”. The Super Visa is a new option for those visiting Canada without the need to renew their status for up to two years.
Previously, wait times for parental sponsorship applications took up to eight years to process, now with the new Super Visa, parents and grandparents can be reunited with their families within 8 weeks.
When reviewing files of new clients, I notice that many of their existing life insurance polices in many cases do not have a waiver of premium option as a rider in place. Most insurance companies can provide this benefit on life insurance policies for a minimal amount and should really be considered when applying for life insurance coverage.
Are you a conservative investor who is tired of seeing the returns generated by GIC’s reduced by inflation and taxes? Or are you a small business owner who wants to make sure your personal savings remain protected in the event of bankruptcy? Perhaps you are in poor health and want to make sure your savings are there for your loved ones should you pass on. In all of these cases, you could benefit from investing in Segregated funds this RRSP season.
I always get requests for group employee benefit quotes with the expectation that I can give a quote instantly. Unlike, an individual health benefit or life insurance quote this is unfortunately not the case. The process does take quite a bit longer. Especially if you want to find the insurer that is the best fit for your industry/company.
Don’t want to pay for life insurance for the rest of your life? Well, you are in luck, there is a paid up solution. It is a fully guaranteed limited-pay policy. The premiums are due for a 10 or 20 year period at which point the policy is fully paid up.
No needles, no blood test, no doctors, no medical exam required!
As you probably know, life insurance is important to help your loved ones cope with the financial obligations that arise following your untimely death. However, you may find the selection process for life insurance to be long and arduous. We have a solution that might interest you.