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Term life insurance is a popular and affordable way to provide financial protection for your loved ones in the event of your passing. It offers a guaranteed death benefit for a specific period, such as 10, 20, or 30 years, helping ensure that your family is financially secure.
Whether you’re looking to replace lost income, pay off debts, or cover future expenses, term life insurance can provide peace of mind during your most important years.
In this guide, we’ll explore how term life insurance works, the different types of policies available, and help you determine which option best fits your needs.
Have you been declined for life insurance?
Life insurance can help protect your family and loved ones from any financial burden should something happen to you. Unfortunately, not everyone who applies for life insurance will be approved.
In this post, you’ll find out:
Reasons why you may be denied life insurance coverage
What you can do after a decline
Which insurance companies can still provide you coverage after a declined application
Do you want to save thousands of dollars on your life insurance policy?
You can with preferred rates.
Only people who live healthier and less risky lifestyles can qualify for these lower premiums. The discount on the premiums can be up to 30%, which could equal savings of thousands of dollars over the policy’s life.
Read on to see how you can get these premium savings.
You know that becoming an informed consumer is key to any significant purchase—especially one as important as life insurance.
But even if you’ve done your homework, you may have many unanswered questions about the taxation of life insurance:
Do you have to pay taxes on your life insurance proceeds in Canada?
If so, when would your family receive the death benefit?
Is this money subject to other taxes?
What happens if you don’t have a beneficiary?
The list of questions goes on and on. But by learning as much as possible about life insurance—either on your own or with advice from a professional—you can do more to protect your loved ones by making sure they receive the most money in the easiest way possible.
Life insurance premiums—the monthly or yearly fees for your policy—are intended to be affordable. After all, you buy it to protect your loved ones’ financial future.
But what if you can take that security further by finding more ways to save, like deducting those premiums from your taxes? Wouldn’t that make life insurance that much more attractive?
But not all premiums are deductible. In this post, we explore situations where CRA will allow you to write off the cost of life insurance from your income tax.
Are you looking for a life insurance policy to motivate you to become more healthy and lead an active life?
How about one that rewards you with lower premiums and prizes like a free Apple Watch?
Now you can with Manulife Vitality.
In this post, I’ll explain to you what Manulife Vitality is and how it works.
You’ll also learn if it’s the right kind of insurance for you to protect your family and achieve your health goals.
Let’s get started.
Has the rapid spread of the novel coronavirus got you thinking about life insurance?
You might be wondering if your existing policy covers you, or what happens if you apply for coverage now.
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.
Did you know that one in two Canadians lives paycheque to paycheque? How can they meet their financial commitments if they suddenly lose their ability to earn an income due to a disability? Can they afford to pay their bills or keep their home?
That’s where long-term disability insurance helps. It works when you can’t by providing a monthly benefit to pay ongoing expenses. Best of all? The benefit is tax-free.
Several insurance companies offer long-term disability insurance, including iA Financial Group, also known as Industrial Alliance. How does iA disability insurance stack up against the competition? Read on to find out.
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.
Facing a critical illness diagnosis can lead to significant financial strain due to medical bills, treatment costs, and potential loss of income. The burden can be daunting, but there’s a way to secure your future and protect yourself against these risks.
Canada Protection Plan (CPP) offers an array of critical illness insurance plans tailored to provide you with financial security and peace of mind in such challenging times. CPP distinguishes itself by catering to diverse needs, including those with pre-existing conditions and people involved in high-risk activities.
CPP’s critical illness insurance provides specialized plans like Cardiac Protect CI, Cancer Protect CI, and combined plans covering both cardiac and cancer-related illnesses. These plans feature lump sum benefits, no medical exam requirements, and guaranteed premiums for the first five years, allowing you to concentrate on your recovery without financial worries.
Secure your financial future today by exploring CPP critical illness insurance and choosing the plan that best fits your needs. Don’t wait for the unexpected—gain peace of mind with accessible and reliable insurance options from Canada Protection Plan. Read on to learn more and get started.
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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.