Life Insurance
Should You Renew Your Term Insurance Policy?
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.
21 Tips To Ace Your Life Insurance Medical Exam
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.
Assuris: Protection For Your Insurance Policies
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.
How Much Does Life Insurance Cost In Canada?
Buying life insurance can be confusing and expensive. You want to protect your family in case something happens, but you don’t know how much life insurance costs and which options are best for you.
This post will show you what type of life insurance you should get, how much it costs, and the factors that affect the cost.
Read on to find out all you need to know to make an informed decision about purchasing life insurance.
Life insurance quiz: do you know the basics?
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.
September is Life Insurance Awareness Month
Life insurance can mean the difference between a family being dependent on the government for financial support or becoming self-sufficient after the provider of the family passes away. Many families who loses a loved one are not able to recover from its financial implications. Immediate expenses such as burial costs and legal fees coupled with the long term income requirement for living expenses can devastate a family financially. It may take years for the survivors of a family to recover from the death of the breadwinner of the family. Oftentimes, full recovery is impossible as a single parent is unable to keep up with the cost of raising a family alone. They may need to downsize their home, take out additional loans, cease contributions to education and retirement savings plans and do other things that reduce their standard of living just to get by.
Disability Insurance
Why You Need Supplemental Disability Insurance
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.
Common Disability Insurance Exclusions You Should Know
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.
What Is A Disability Insurance Occupation Class?
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.
Critical Illness Insurance Vs Disability Insurance
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.
Best Disability Insurance Companies In Canada In 2024
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.
Demystifying Disability Insurance Underwriting
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.
Critical Illness Insurance
How Critical Illness Insurance Riders Safeguard Your Future
Critical illness insurance offers financial support if you are diagnosed with a life-threatening disease, like cancer or heart attack. The lump sum benefit paid by the insurance company can help cover medical costs and pay for daily living expenses while you focus on recovery.
While the base critical illness policy provides the core coverage, you may consider upgrading it for better protection. That’s where critical illness insurance riders come into play.
What are critical illness riders? Which ones can you add to your policy, and which ones are worth it? In this post, we delve into the intricacies of these add-ons, illustrating how they extend beyond standard policies to provide a crucial layer of protection.
How To File A Critical Illness Insurance Claim
In the face of unexpected health challenges, having a robust critical illness insurance policy can provide much-needed financial support. However, the process of filing a claim can be intricate and overwhelming. If you’re seeking clarity on how to navigate this crucial aspect of critical illness insurance, you’ve come to the right place.
This post demystifies the complexities of filing a critical illness insurance claim, offering a step-by-step guide to empower you during a challenging time. Whether you’re a policyholder or a caregiver, understanding the nuances of filing a critical illness insurance claim is essential for securing the financial assistance needed to cope with medical expenses and maintain financial stability.
Let’s dive into the essential steps of filing a critical illness insurance claim, arming you with the information and know-how to navigate this process seamlessly.
Can You Get Critical Illness Insurance With Pre-existing Conditions?
Are you or a loved one living with a pre-existing medical condition and wondering if you can still secure critical illness insurance? The answer is a resounding “yes,” and this post will guide you through the process.
We understand that health concerns can bring uncertainty, but with the right information, you can make an informed decision and get the critical illness coverage you need.
Read on to discover how a pre-existing medical condition may affect your eligibility for critical illness insurance coverage and what to do if you are declined.
Are Critical Illness Insurance Premiums Tax-Deductible?
Have you ever wondered if your critical illness insurance premiums are tax-deductible? This question can be a real head-scratcher during tax season, and the answer could significantly impact your finances.
In this post, we will unravel the intricacies of critical illness insurance premium deductions. We’ll explore the rules and regulations surrounding this topic, helping you gain a clear understanding of how it may affect your tax situation. By the end, you’ll be equipped with the knowledge to make informed decisions and potentially reduce your tax burden.
Keep reading to discover the insights that could save you money and provide peace of mind in the event of a serious illness.
Is Critical Illness Insurance Taxable?
Is the lump sum benefit you receive from critical illness insurance taxable? Whether you have a personal policy or your employer pays for your coverage, you’ll want to know if you have to pay tax on the benefits.
That’s because when it’s time to make a claim, the last thing you want to worry about is whether taxes will affect the benefit amount.
In this post, we’ll reveal the tax implications of a critical illness insurance payout. So, let’s dive in and explore this important topic in detail.
Protect Your Home With Mortgage Critical Illness Insurance
Homeownership is a significant investment and a source of pride for many. However, with homeownership comes the responsibility of paying a mortgage every month. It can be daunting, especially if unexpected circumstances like a critical illness arise.
That’s where mortgage critical illness insurance comes in. This type of insurance coverage helps homeowners pay off or reduce their mortgage balance if they are diagnosed with a critical illness, such as cancer, heart attack, or stroke. It can provide financial security and peace of mind during a difficult time.
While mortgage critical illness insurance is a practical option for homeowners, weighing the benefits against its limitations is essential. Personal critical illness insurance, for instance, can provide more comprehensive coverage for various expenses related to a critical illness.
In this article, we’ll explore mortgage critical illness insurance, its benefits, and how it compares to personal critical illness insurance. By the end, you’ll better understand which option is best for your needs.