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Attention: The MIB may have your medical information.
No, not the Men In Black. The Medical Information Bureau.
In this post, we explain what the MIB is and how it helps prevent fraud and keep life insurance affordable.
Let’s get started.
Are you a thrill-seeker who loves dangerous hobbies? Did you know that participating in these high-risk activities can affect your life insurance rates?
You could end up paying thousands more for life insurance. Even worse, the insurance company could deny coverage altogether.
What are the 9 activities insurance companies consider dangerous, and what factors do they look at when determining your rate?
This post answers those questions and more.
By the end, you’ll know exactly what you need to do to get the coverage you need.
So if you’re a thrill-seeker looking for life insurance, this post is for you.
This is the ultimate guide for saving on life insurance.
Here, you will find a massive list of 87 simple tips to maximize your insurance dollars, leaving you more money in your pocket.
So don’t buy life insurance until you read this. It could end up saving you thousands of dollars over the life of the policy.
A few posts back we reviewed Manulife’s Synergy, a 3-in-1 solution that encompasses life, critical illness and disability insurance. While it’s a simple product that covers the major risks in life, there isn’t much customization associated with it. Every Synergy policy must be comprised of the three types of insurance, with no way of mixing and matching the type of protection you want. That doesn’t mean there is no product with more customization available. Humania, a company based in Quebec, came up with a solution that satisfies all your customization needs by allowing you to mix and match to your heart’s content. The product is called P.A.G.E., and it’s short for ‘Protection for the entire family, Affordable rates, Global coverage, Easy application.’
Are you a smoker who wants to kick the habit? Chances are, if you currently smoke, that thought has crossed your mind. Besides the health benefit of quitting, there are also financial incentives. The obvious one is saving the money you used to spend on cigarettes. According to Preet Banerjee’s new book, Stop Over-Thinking Your Money, a teenager who pays $9 for a pack of cigarettes would have amassed over $375,000 if he instead would have directed the money to an investment yielding 3%. Now, Foresters has another financial incentive for you to quit smoking. In this week’s product review, we will look at Foresters’ Familylife participating whole life insurance product and its automatically included rider – Quit Smoking Incentive Plan. Chances are you haven’t heard of Familylife before. That’s because it launched in April of 2013, so it’s a brand new product in the insurance industry, and it’s one of a kind in the Canadian marketplace.
Last week in our product review series we talked about Desjardins’ Life and LTC Advance, a permanent life insurance policy with a monthly long-term care benefit. While most of the product reviews we’ve done so far involved multiple benefits under one policy, there are some that only serves one purpose. One such product is Assumption Life’s FlexOptions. What is FlexOptions and who is it designed for? Let’s get into the features and pricing so you can decide if it’s the right product for you.
Is it worth purchasing disability insurance?
This is an important question that not many people think of. Disability insurance can be helpful in many ways, especially if you were to suffer from a long-term disability.
You may be thinking: “Why would I need this? I don’t think I could ever get hurt or sick enough for this to happen!” But the truth is, life happens, and sometimes things are out of our control. That’s why we must be prepared for anything that life throws at us.
If you’re not sure if it’s worth purchasing, read on to learn the things you should know why long-term disability insurance might be one of the most important purchases you ever make.
Did you know that 1-in-4 Canadian adults will become disabled before the age of 65?
For disabilities that last longer than 90 days, the average length is almost six years. Most people disabled that long will have their plans for the future derailed.
That’s where a disability insurance policy can be a lifesaver. By providing a monthly benefit if you can’t work due to an injury or illness, you protect your ability to make a living. Disability insurance is essential for working-class Canadians who want a secure financial future in case of a long-term disability.
But, how much disability insurance should you have? And how much does it cost? Find out the answer to these and more in this post.
Are you a working professional looking for long-term disability insurance benefits? If so, you may have heard of a type of disability insurance called own occupation.
Own occupation disability insurance (DI) is an essential coverage that can help with financial security. While it’s crucial for doctors, lawyers, and other professionals, these are not the only careers that benefit from this type of insurance.
What is own occupation DI? And how does it compare to other types?
Read on to learn more about this type of coverage and how it can help protect your income during a long-term disability!
Do you ever fear that you might not be able to work and take care of your family one day? After all, lots of people live with disabilities and are unable to work. Disabilities that could derail their financial plans if they last a long time.
You might worry about the financial impact of a long-term disability. However, there is a solution—long-term disability insurance (LTD). It can help you survive the most challenging time of your life.
But how long does long-term disability insurance last? And what are the factors that affect this? Keep reading to find out the answers to these and more.
Your ability to earn a living is one of your greatest assets. But what if you cannot work indefinitely because of a sudden disability?
That’s where a disability insurance plan can help you. It’s intended to preserve your income if you cannot work due to injury or illness.
But you might be wondering: how much does disability insurance cost?
In this post, you will learn about the factors that affect the cost of disability insurance. By the end, you’ll know how to find a policy within your budget to protect your earning power.
As a realtor, you are busy with your day-to-day tasks – things like staging or showing a home, meeting with clients, driving around town, and more.
You never think about not being able to work because of a disability. But what if your income suddenly stopped? How will you maintain your lifestyle?
Maybe you have enough savings to get you through a short-term disability. But what about one that lasts for several months or even worse, years?
Can you afford not to insure this risk?
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.
Are you prepared for the financial impact of a serious illness?
Critical illnesses like cancer, heart attack, and stroke can have devastating financial consequences. The costs of medical treatments, lost income, and lifestyle adjustments quickly add up, leaving you and your loved ones vulnerable.
That’s where critical illness insurance comes in. It gives a cash injection in a time of crisis to provide financial security for you and your family.
In this post, we’ll walk you through purchasing critical illness insurance, from understanding the basics to finding the right coverage that fits your needs and budget.
If you’re considering buying critical illness insurance in Canada, this post is for you.
Have you considered purchasing critical illness insurance but felt overwhelmed by the underwriting process?
Critical illness insurance underwriting is a complex process that involves a thorough evaluation of your medical history, current health status, and lifestyle. Understanding this process is crucial in managing your expectations so you know your chances of being approved for coverage.
In this post, we will guide you through the underwriting process for critical illness insurance, uncovering the top things underwriters look at when assessing your risk.
By the end, you will better understand how underwriting works for critical illness insurance, allowing you to make an informed decision about your coverage and ensuring that you are adequately protected in the face of unexpected health issues.
Have you ever considered what would happen if you were diagnosed with a critical illness? Medical expenses, lost wages, and other financial obligations can quickly add up and cause significant stress during an already challenging time.
Critical illness insurance can help ease this burden by providing a lump-sum payment in the event of a severe illness. But how much does critical illness insurance cost? And is it worth the investment?
In this post, we will explore the factors that impact the cost of critical illness insurance and provide tips for finding the best policy for your needs. With this information, you can make an informed decision about whether critical illness insurance is right for you and your family.
Table Of Index Table of contents When it comes to insuring ourselves and our loved
Serious illnesses can significantly impact our lives, from causing emotional distress to financial strain. While we can’t always prevent these health issues from occurring, we can take steps to protect ourselves and our families from their potential consequences.
One such step is getting critical illness insurance, which provides financial support if you are diagnosed with a covered illness. But with so many options available, it can be challenging to know how much coverage you need.
In this post, we’ll explore the factors you should consider when determining the appropriate level of critical illness insurance coverage so that you can make an informed decision about your insurance needs.
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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.