Copyright © 2024 Brian So Insurance
As we travel through the journey of life, our financial needs and obligations undergo constant change. For example, your financial obligations increase once you are married, and continue to do so as your family grows in size. It should come as no surprise that insurance varies in importance at different stages of life. Proper planning at each stage of life is necessary to ensure that you and your dependents are protected. Without knowing the risks and a plan to minimize the risk, you are potentially exposing your family to a financial disaster. Here are which types of insurance you should be aware of at each stage of life.
Is your term insurance about to expire? Did you know that if you renewed it, your premiums are going to be 3-20 times more expensive?
What if I told you there was a better option than renewing it?
One that will let you maintain your coverage while keeping premiums affordable?
In this post, I’ll walk you through the options you have when your term insurance is about to renew and show you the one that will save you the most money.
Let’s get started.
So you just applied for life insurance. Now what?
Chances are, you will need to go through a life insurance medical exam.
What does it test for?
More importantly, how can you ace it and save thousands over the life of your insurance policy?
Here are 21 actionable tips to help you ace your life insurance medical exam.
Have you ever wondered what would happen to your insurance policy if the insurance company became insolvent?
No? Maybe it’s just me.
But in case you’re worried, you’ll be glad to know that your policy is protected by an organization called Assuris.
What is Assuris and how much is the guarantee? Read on to find out.
Did you know that the cost of life insurance in Canada can range from as little as $10 per month to over $300, depending on your age, health, and coverage type? Many Canadians are unaware of how affordable—or expensive—term life insurance can be, leaving them unprepared when it comes time to protect their loved ones.
Life insurance premiums aren’t one-size-fits-all. Factors like your age, gender, lifestyle, smoking habits, and even your hobbies can significantly influence your premiums. Understanding these nuances is crucial for making informed decisions and finding a policy that fits your needs and budget.
Whether you’re a young professional just starting out, a parent with growing responsibilities, or someone approaching retirement, there’s a life insurance plan tailored for you—and likely more affordable than you think.
In this guide, we’ll break down exactly how much life insurance costs in Canada, explore the factors that impact premiums, and show you how to find the best rates. By the end, you’ll be equipped with the knowledge to make a confident, informed choice. Let’s dive in!
As part of the mandate of Life Insurance Awareness Month to raise awareness for all things related to life insurance, we want to do our part to educate our readers on the different aspects of life insurance. There aren’t many better ways of education than a knowledge test. Therefore, below is a short quiz on life insurance. Since the purpose of the month is awareness and not about passing the LLQP, the questions will be geared towards beginners.
Being an employee has many perks—overtime, bonus, vacation pay. One of the most valuable perks is an employer-sponsored group benefits package. That’s because it often contains long and short-term disability insurance coverage.
But did you know that disability income insurance from your group plan can’t fully protect your income?
In this post, we explain the shortcomings of group long-term disability insurance. We’ll also share how you can supplement group disability insurance with individual coverage for the best protection.
Having long-term disability insurance (LTD) is vital to the breadwinner of your family. It protects your income if you can’t work due to an injury or illness. But did you know that not all disabilities are covered?
In this post, we explain policy exclusions, limitations, and conditions that may affect your disability claim.
The cost of disability income insurance depends on many factors, like your age, gender, and smoking status. But did you know that your occupation plays the biggest role in determining how much you have to pay?
In this post, you’ll find out what occupation class you belong to. You’ll also learn how you can upgrade your occupation class so that you can pay the lowest rate possible for disability coverage.
Disability and critical illness insurance are a vital part of a sound financial plan. One protects you if you become disabled, while the other does if you become critically ill.
But how exactly do they work? And if you had to choose, which one should you prioritize?
In this post, we explore the key differences between disability and critical illness insurance.
Getting long-term disability insurance is the most important thing you can do to protect your income. A disability policy pays you a monthly benefit if you can’t work due to an illness or injury.
But how do you determine which disability insurance company is the best? We researched the top insurers based on financial strength, product offerings, and more to show you where to get your disability coverage. Read on to see which insurance companies made the list.
When you decide to get long-term disability insurance, you can apply to the insurance provider. But the application is only the first step. Next is underwriting, where the insurance company assesses if you are a good fit for disability insurance.
Besides your health, what other factors impact the underwriting process? Do you need to undergo a medical exam to buy disability insurance? Get the answers to these questions and much more in this post.
A critical illness diagnosis can turn your world upside down. Medical bills, lost income, and additional expenses can quickly pile up, adding stress to an already challenging time. Critical illness insurance can be a financial lifeline, providing a lump sum payout to help cover these costs so you can focus on your recovery.
In this post, we’ll take a deep dive into RBC’s critical illness insurance plans. We’ll explore the different plan options, key features, and benefits they offer. By the end, you’ll have a clear understanding of critical illness insurance plans from the insurance arm of Royal Bank of Canada, their pros and cons, and how they stack up against the competition.
So, whether you’re just starting your research or ready to compare quotes, this guide is here to help you make an informed decision about your financial security.
Facing a serious illness can be a devastating blow, both emotionally and financially. Critical illness insurance aims to ease the financial burden by offering a lump sum benefit upon diagnosis of a covered critical illness. But is it the right choice for you?
This guide explores the pros and cons of critical illness insurance coverage, helping you make an informed decision about whether this type of coverage aligns with your needs and financial goals. We’ll break down the benefits while also highlighting the limitations and potential drawbacks to consider.
By the end, you’ll be well-equipped to weigh the advantages and disadvantages and determine if it’s a valuable addition to your financial plan.
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.
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.
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!
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.
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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.