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Are you a senior looking for affordable life insurance that protects your loved ones without breaking the bank? You’re not alone. Many Canadians over 50 worry that life insurance becomes too expensive or hard to qualify for as they age. The good news is, affordable options are available—even if you’re in your 60s, 70s, or beyond.
The key is finding the right type of policy that fits your needs and budget. Whether you want to cover final expenses, leave a legacy, or provide financial security for your family, there are solutions designed specifically for seniors.
In this guide, we’ll walk you through how to find affordable life insurance in Canada, what factors affect the cost, and how to choose the best coverage for your stage in life.
Looking for life insurance but worried your health history might stand in the way?
Guaranteed issue life insurance could be the solution you’ve been searching for. Designed for people who’ve been turned down for traditional coverage or want to skip the medical exam altogether, this type of policy offers peace of mind by ensuring you can still leave behind financial support for your loved ones.
Whether you have a chronic condition, a complicated medical history, or just want hassle-free coverage, guaranteed issue life insurance gives you access to protection—no questions asked.
In this guide, we’ll break down guaranteed issue life insurance in Canada—how it works, who it’s best suited for, and what to consider when selecting the right policy.
Simplified issue life insurance is a type of no medical life insurance designed for Canadians who want coverage without a medical exam. Instead of lab tests or physicals, applicants answer a short health and lifestyle questionnaire.
Unlike guaranteed issue life insurance—which asks no health questions and is often a last resort for those with severe conditions—simplified issue offers higher coverage and more competitive rates.
In this post, we’ll focus on simplified issue life insurance in Canada: how it works, who it’s for, and what to look for when choosing a policy.
When you buy life insurance, disability insurance, or critical illness coverage, you’re making a long-term financial commitment to protect yourself and your loved ones. But what happens if your insurance company goes under?
That’s where Assuris comes in.
Assuris is a not-for-profit organization that protects Canadian policyholders in the unlikely event their life or health insurance company fails. In this post, we’ll explore how Assuris works, what it covers, and why you can feel confident knowing your insurance is protected.
Your term life insurance policy is set to expire, and you’re faced with a big decision—should you renew, replace, cancel, or convert your term life insurance into a permanent plan? Making the wrong choice could leave you without the protection your loved ones need.
Many people assume their only option is to buy a new policy or let their coverage lapse, but there’s another solution: term life insurance conversion. With this option, you can switch to a permanent policy without medical exams, ensuring lifelong coverage even if your health has changed.
Imagine securing a policy that never expires, builds cash value, and protects your family or estate no matter what happens. Whether you want to leave a legacy, cover final expenses, or create a tax-efficient asset, converting your term policy could be the smart move.
In this guide, we’ll walk you through how term life insurance conversion works, its benefits, drawbacks, and alternatives—so you can make the best decision for your future. Keep reading to learn if converting your term policy is right for you.
Life doesn’t stand still, and neither should your life insurance. When you first bought your term life insurance policy, you likely chose a term length based on your financial situation at the time. But what happens if your needs change? Maybe you bought a 10-year term to keep costs low, but now you realize you need coverage for 20 or 25 years. Or perhaps your mortgage has been extended, and you want your life insurance to match.
That’s where a term exchange option comes in. This feature lets you extend your term life insurance policy by switching to a longer term without having to go through medical underwriting. That means even if your health has changed, you can still extend your coverage at a rate based on your current age.
In this guide, we’ll explain how term exchanges work, their benefits, and potential downsides, so you can decide if this option is right for you. We’ll also compare which insurance companies offer term exchanges and what their policies include. And if a term exchange isn’t the best fit, we’ll explore other options like renewing your policy, replacing it with a new one, or converting to permanent insurance.
By the end of this post, you’ll have a clear understanding of your options and be better equipped to make a smart decision about your life insurance.
Is that term life insurance policy you took out a while ago now collecting dust in a drawer? Life has a funny way of evolving, and what felt essential a few years back might feel less so today. Maybe your kids are grown, your debts are shrinking, or your financial picture has simply shifted.
If you’ve been wondering whether you have any flexibility with that term life insurance—specifically, if you can actually cancel it—you’re definitely not alone. It’s a really common question, and understanding your options is key to feeling in control of your finances.
Good news: yes, you can cancel your term life insurance policy. This guide will walk you through exactly how to do it, explaining the simple steps involved. But before you make any decisions, it’s crucial to understand what happens when you cancel. We’ll break down the implications, including what you might lose and what to consider before taking that step. Finally, because cancelling isn’t always the best or only answer, we’ll discuss some smart alternatives you might want to consider first.
Let’s get started and give you the complete picture so you can make a confident, informed decision about your term life insurance.
When you buy life insurance, disability insurance, or critical illness coverage, you’re making a long-term financial commitment to protect yourself and your loved ones. But what happens if your insurance company goes under?
That’s where Assuris comes in.
Assuris is a not-for-profit organization that protects Canadian policyholders in the unlikely event their life or health insurance company fails. In this post, we’ll explore how Assuris works, what it covers, and why you can feel confident knowing your insurance is protected.
Accidents can happen at any time, and they can be costly. Medical expenses, lost wages, and other costs associated with an accident can add up quickly. If you’re not prepared, an accident can put a significant financial strain on you and your family.
That’s where accident insurance comes in. It’s a type of long-term disability insurance that replaces your income if you get an accidental injury. The monthly benefit can provide a financial safety net while you recover from the accident.
In this post, we’ll take a closer look at accident insurance, including what it is, how it works, and why you might need it.
Long-term disability insurance protects your income by paying a monthly benefit while you are unable to work due to an injury or illness. Although most self-employed individuals and small business owners buy private insurance, many employees are covered by group benefits through their workplace.
How does group long-term disability insurance work? And what should you be aware of if you have coverage through your workplace? Read on to find out if you are adequately covered by your group disability coverage and what to do if you are not.
Long-term disability insurance works when you can’t. If an accident or illness prevents you from working, disability insurance pays you an ongoing income to cover your monthly expenses.
Among the insurance companies in Canada to offer disability insurance is La Capitale Financial Security. How do its disability insurance products compare to the competition? Most importantly, should you buy disability insurance from La Capitale? Read on to find out.
Long-term disability insurance works when you can’t due to an injury or illness. It pays a monthly income while you are disabled, allowing you to focus on recovery without worrying about paying the bills. While many employees have coverage through their workplace benefits, self-employed and small business owners are not as fortunate.
Therefore, they need to obtain private disability insurance through an insurance company. The Edge Benefits Inc is one provider of disability coverage in Canada. But how do The Edge products stack up against offerings from other insurance companies? Should you get a policy from The Edge Benefits? Read on and find out.
Did you know that the average length of a disability over 90 days is 5.75 years? Could you cover your day-to-day expenses if you can’t work? That is unlikely unless you have disability insurance.
A long-term disability insurance policy works when you can’t. If an accident or sickness prevents you from working, disability insurance can provide a monthly benefit to help pay for your living expenses.
But with so many insurance companies, how do you know which policy is right for you? In this post, we review the disability insurance policies offered by Humania Assurance and tell you they stack up against the competition.
Did you know that almost half of bankruptcies and mortgage foreclosures are caused by disability? The stat underscores the importance of guarding your income from an interruption caused by an illness or injury.
With long-term disability insurance, the insurance company pays you a monthly benefit if an injury or illness prevents you from working, lessening the financial impact of a disability.
Among the insurance companies in Canada offering disability insurance is Desjardins Life Insurance. Should you buy a disability policy from it? Read on for our review of its products.
When you buy life insurance, disability insurance, or critical illness coverage, you’re making a long-term financial commitment to protect yourself and your loved ones. But what happens if your insurance company goes under?
That’s where Assuris comes in.
Assuris is a not-for-profit organization that protects Canadian policyholders in the unlikely event their life or health insurance company fails. In this post, we’ll explore how Assuris works, what it covers, and why you can feel confident knowing your insurance is protected.
Critical illness insurance has become an essential part of financial planning for many Canadians. With the rise in serious health conditions such as cancer, heart disease, and stroke, having the right insurance coverage can make a huge difference.
A critical illness diagnosis can result in loss of income, high medical bills, and ongoing treatment costs. The goal of critical illness insurance is to provide you with a lump sum payment to help cover these unexpected expenses, allowing you to focus on recovery.
In this post, we’ll explore the best critical illness insurance providers in Canada, comparing their coverage, benefits, pros and cons, and unique features to help you make an informed decision.
When it comes to critical illness insurance, making the right choice can have a lasting impact on both your financial security and peace of mind. Humania Assurance offers a variety of critical illness insurance plans that stand out for their flexibility, accessibility, and tailored options.
Whether you’re looking for comprehensive coverage for adults, specialized plans for children, or insurance that doesn’t require a medical exam, Humania provides solutions designed to meet a wide range of needs.
In this review, we’ll explore the features of Humania’s critical illness insurance and compare them to other providers in the market, helping you understand where Humania excels and how it can fit into your protection strategy.
In today’s fast-paced world, it’s crucial to safeguard your financial future and protect yourself against unexpected life events. Critical illness insurance plays a vital role in providing financial security and peace of mind in the face of a serious health diagnosis. This comprehensive review will delve into Beneva’s critical illness insurance plans, examining their key features, benefits, and how they compare to other leading insurers in the Canadian market.
By understanding the intricacies of Beneva’s offerings and comparing them to competitors, you can make an informed decision about whether their plans align with your specific needs and budget. Whether you’re seeking comprehensive coverage for a wide range of critical illnesses or looking for a more cost-effective options, this review will provide valuable insights to help you navigate the critical illness insurance landscape.
Are you looking for critical illness coverage with no medical exams, no lengthy questionnaires, and no stress? Finding the right protection for unexpected health challenges shouldn’t be difficult.
With The Edge Benefits, you get guaranteed issue coverage, which means no questions asked, no medical tests required—just straightforward, essential coverage.
Whether you’re preparing for the unexpected or seeking protection for your family, The Edge Benefits makes it easy. Their plans are simple to understand, with transparent terms and flexible options tailored to meet your needs. Plus, you can apply quickly and easily, so you’re protected in no time.
Discover if The Edge Benefits’ critical illness plan is the right fit for you. We compare it to other insurance companies’ offerings, highlighting the advantages and disadvantages so you can make an educated decision to protect your financial future.
Are you prepared for life’s unexpected health challenges? Critical illness can strike when least expected, and having the right insurance plan can make all the difference in maintaining your financial stability during recovery.
Assumption Life’s critical illness insurance product offers a streamlined approach to coverage, ensuring that individuals between 18 and 60 can receive up to $100,000 in protection for 16 covered illnesses, all without the hassle of a medical exam. With flexible term options and a quick approval process, it’s designed for those seeking peace of mind, fast.
Don’t wait until it’s too late. Explore critical illness insurance from Assumption Life today and ensure that you and your loved ones are protected. Read on to see how it works, its pros and cons, and how it compares with other options and find the best fit for your needs.
Are you financially prepared to handle the impact of a major illness diagnosis? Imagine facing a critical illness and suddenly being overwhelmed by substantial medical bills. Critical illness insurance can be your financial lifeline, ensuring you can focus on recovery instead of expenses.
UV Insurance offers a critical illness insurance plan that not only covers a broad range of conditions but also provides unique benefits like prolonged disability coverage. Their flexible term length options and built-in premium refund feature set them apart from other providers.
Don’t leave your future to chance. Explore UV Insurance’s critical illness plans today and ensure that you and your loved ones are protected, no matter what comes your way. Start your journey to financial security by comparing UV Insurance with other leading providers and see why it might be the right choice for you.
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Copyright © 2024 Brian So Insurance
Brian So Insurance is an insurance advisor licensed to sell life insurance products in British Columbia, Alberta, and Ontario. We are not available in other provinces. Insurance policies described, quoted, shown, and illustrated throughout this website are not an offer for the sale of any particular insurance policy or product, only an invitation for application for insurance coverage and may not be relied upon. There are many variables in different insurance coverages and companies, including various insurance company standards and offerings and underwriting requirements. Please see policy documents for full terms, conditions, and exclusions. The logos and trademarks used here are owned by the respective entities.