Life Insurance
Corporate Insured Retirement Program
On average, small business owners have 80% of their assets tied up inside their corporations.
The challenge for them is to do the following in a tax-efficient manner:
Invest the funds
Withdraw the funds to supplement their retirement
Transfer the assets to their heirs
This post explains how the corporate insured retirement program can help you achieve all the above.
Feel Protected With 16 Types Of Credit Card Travel And Purchase Insurance
When looking for a credit card, most people value rewards and low annual fees. But there is a lot more that your credit card can offer, like included insurance coverage at no extra cost.
To settle a worrisome mind, added insurance coverage could be just what you’re looking for to have that extra bit of protection without having to go looking for it.
So what could you be missing out on?
Let’s take a look at all the different insurance coverage offered by Canadian credit cards.
I Analyzed 15 Life Insurance Calculators. Here’s What I Learned
I analyzed 15 life insurance calculators to answer the burning question:
How much life insurance should you get?
I looked at the recommended amount to buy. I looked at the ease of use. I even looked at the design of the calculator.
What did I learn? More importantly, which one should you use?
Let’s get started.
Best Life Insurance For Smokers In Canada (Updated in 2024)
Did you know that life insurance for smokers is double to triple the price of non-smokers? That can add up to thousands or even tens of thousands of dollars more that smokers pay over the life of the policy!
But not all life insurance companies treat smokers the same way. The trick is to find the one that views you as low risk and offers you the best rates.
This comprehensive guide will reveal how smoking affects your life insurance rates and how you can get the best life insurance policy as a smoker.
How Does Cannabis Use Affect Life Insurance?
Do you use marijuana?
You might know that cannabis usage can affect your ability to buy life insurance. The good news is, there are plenty of ways to get affordable coverage if you use marijuana.
In this post, we reveal how life insurance companies treat marijuana users. You will also find out how much insurance will cost for them.
In the end, you can make an informed decision about getting the right policy to protect your family.
Bill to prohibit genetic discrimination is now law
On May 4, 2017, Bill S-201: An Act to prohibit and prevent genetic discrimination received Royal Assent and became law. The bill prohibits any person or insurance company from requiring an individual to undergo a genetic test or requiring an individual to disclose the results of a genetic test as a condition of obtaining insurance.
Disability Insurance
iA Financial Group Disability Insurance Review
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.
Manulife Disability Insurance Review
Did you know that one-in-three Canadians will become disabled for at least 90 days before reaching age 65? Although some disabilities only last a few months, many last for several years. How will you pay your bills if your income stops for a few years?
That’s where long-term disability insurance comes in. A disability policy provides valuable coverage to help you cope with the financial costs of an injury or illness. It pays a monthly benefit so you can continue making mortgage payments, saving for retirement, and keeping your household finances healthy.
One of the providers of long-term disability benefits is Manulife Insurance. What type of disability plans does it offer? How do its insurance policies stack up against the competition? This review tells you all you need to know about Manulife disability insurance.
Canada Life Disability Insurance Review
What is your most valuable asset? Is it your home? How about your investment portfolio? In reality, neither is true. Your most valuable asset is your ability to earn an income. If you can’t work, you won’t be able to pay your mortgage or rent, buy groceries, pay your bills, or save for retirement.
That’s why you need long-term disability insurance coverage to protect your earning ability. Even if you become disabled due to an illness or injury, you would still receive a tax-free monthly income for as long as you cannot work.
Canada Life is the largest of the life insurance companies that offer individual disability plans. But how do its insurance policies compare to the competition? Read on to find out.
RBC Disability Insurance Review
Long-term disability insurance ensures your financial security while you’re off work for a significant period of time. But did you know that many Canadian insurance companies offer long-term disability insurance? How do you know which one is right for you?
In this post, we take a deep dive into RBC disability insurance policies. We examine the variety of products and their advantages and drawbacks. In the end, you will know which disability benefit is right for you.
Graded Vs Level Premium Disability Insurance
Long-term disability insurance replaces your income if you can’t work in your occupation due to an injury or illness. But while many people understand the importance of it in protecting their financial plan, many neglect it because of its cost.
But did you know there is a way to lower your initial cost? Besides level premiums, for which premiums remain constant throughout the lifetime of the disability policy, there are also graded premiums.
In this post, we pit graded vs level premiums to see which one comes out on top. Then you can decide which one is suited for you.
Is Return Of Premium Disability Insurance Worth It?
Long-term disability insurance protects your income by paying you a monthly benefit while you can’t work due to an accident or illness. Many factors affect your premiums, including age, gender, occupation, and benefit amount. A good disability insurance policy usually costs 2-3% of your annual income.
But did you know that you can get back the money you paid for the coverage? With return of premium disability insurance, you receive part of the premiums back if you don’t claim benefits.
Read on to find out how return of premium disability insurance works and whether it’s worth it.
Critical Illness Insurance
Cancer Insurance Vs Critical Illness Insurance: Which Policy Is Right For You?
Facing a cancer diagnosis can be overwhelming, both emotionally and financially. The cost of treatment, even with primary health insurance, can be significant. This is where cancer insurance comes in. It can provide a financial safety net during a challenging time, helping individuals manage the out-of-pocket costs associated with cancer treatment.
However, it’s important to understand how this specific coverage works and whether it’s the right fit for you. This blog post will explore the benefits and drawbacks of cancer insurance, compare it to critical illness insurance, and guide you toward making an informed decision about your financial protection.
Group Critical Illness Insurance: A Stepping Stone, Not A Destination
Life throws curveballs, and serious illnesses can be among the most challenging. Fortunately, group critical illness insurance, offered through employers, provides a layer of protection. It offers a lump sum benefit if you’re diagnosed with a covered illness, freeing you to prioritize your health and well-being during a challenging time.
While group plans offer convenience and affordability, it’s important to understand their scope. They may have limited coverage, capped payouts, and depend on your employment status. This is where individual critical illness insurance steps in. It offers personalized benefits, broader coverage options, and control over your premiums, providing a safety net tailored to your unique needs.
This post will explore both options, empowering you to make informed decisions about your health security. We’ll delve into the benefits and limitations, equipping you with the knowledge to choose the plan that best suits your circumstances. Remember, protecting your well-being is paramount, and both critical illness insurance products can play a crucial role in achieving that goal.
Shared Ownership Critical Illness Insurance Strategy: Benefits, Mechanics, and Tax Advantages
As a small business owner, running your company isn’t a solo act. Whether you’re the driving force or share the reins with key partners, each member plays a vital role in propelling your company forward. But what happens if illness strikes a vital team member? The impact can ripple through your entire business plan, jeopardizing growth and stability.
Instead of facing this threat unprepared, imagine a safety net woven together by your corporation and shareholders. Shared ownership critical illness insurance is more than just a financial safeguard; it’s a strategic partnership ensuring both the company and its cornerstone players weather unexpected storms. Not only does it offer peace of mind, but it unlocks significant tax advantages, making it a win-win for all involved.
So, join us as we delve into this innovative approach to risk management. We’ll explore how shared ownership critical illness insurance works, uncover its unique tax benefits, and showcase a case study of how it protects both a business and its key figure. Ready to learn how this financial strategy can empower your company and build a more secure future together? Start reading!
Key Person Critical Illness Insurance For Small Businesses In Canada
In the ever-changing landscape of business, unexpected events can throw your carefully crafted plans into disarray. But what if the unexpected wasn’t a market downturn or a competitor’s new strategy, but the critical illness of a key employee? These individuals, the backbone of your success, hold irreplaceable knowledge, skills, and relationships that drive your company forward. Losing them, even temporarily, can have a devastating impact.
Key person critical illness insurance isn’t just a financial safety net; it’s a strategic investment in the very foundation of your business. It acts as a shield against the unthinkable, ensuring your company remains resilient even when faced with a key employee’s critical illness. But who exactly are these “key people,” and how does this insurance work?
This post will guide you through the essentials, demystifying key person critical illness insurance and empowering you to make informed decisions to protect your business and its future.
Debunking 13 Critical Illness Insurance Myths
Forget the fear-mongering and misinformation. Navigating the world of critical illness insurance can be clouded by confusion, riddled with common myths that deter informed decision-making.
“I’m too young,” “It’s redundant with my health insurance plan,” or “It’s a rip-off” – these are just a few pervasive misconceptions that leave many unprepared for life’s unpredictable curveballs. But what if these assumptions were simply half-truths, roadblocks holding you back from the potential security this coverage offers?
This post cuts through the clutter, debunking these widely held myths one by one. It empowers you with the facts to make confident choices about protecting your financial future—and your peace of mind—should a critical illness strike. Buckle up, get ready to ditch the doubt, and let’s navigate the road to clarity together.
13 Critical Illness Statistics That Will Surprise You
Life-altering in more ways than one, a critical illness diagnosis not only shakes the individual directly affected but sends ripples of impact through the lives of those in close proximity.
In Canada, it is crucial to address the increasing prevalence of chronic diseases that have long-term impacts on one’s life. As we delve into this pervasive issue, it’s essential to acknowledge that the statistics speak louder than one might anticipate. The reality is that chronic diseases are on the ascent, and the likelihood of you or someone you know already grappling with one is statistically significant.
This post aims to shed light on the escalating prevalence of chronic diseases, emphasizing the need for proactive measures like lifestyle choices and critical illness insurance.