Life Insurance

Product review: Foresters’ Quit Smoking Incentive Plan

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.

Life insurance

Product review: Assumption Life’s FlexOptions

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.

Life insurance

Product review: Desjardins Life with LTC Advance

Last week we talked about Manulife Synergy, a combination insurance that incorporates life, disability and critical illness insurance. As part of a series reviewing insurance products from Canadian insurance companies, this week we will focus on Desjardins Life with Long-Term Care Advance. Don’t be put off by its long name, as it may be just the right product for you. As implied, its a type of combination insurance that incorporates life and long-term care insurance. We’ll begin by summarizing some of its features.

Life insurance Long-term care insurance

Manulife Synergy: 3-in-1 Insurance

Manulife Synergy is a type of combination insurance. It’s a 3-in-1 solution that combines life, disability, and critical illness insurance.

It’s unique in that there are no other products like this in the Canadian marketplace. Let’s examine the features of Manulife Synergy.

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Product review: Industrial Alliance’s Child Life and Health Duo

As Canadians looking for insurance to protect our families from loss, we’re blessed with the number of insurance companies offering innovative products and solutions. Here at Brian So Insurance, we want to discuss and review these specialty products. For the most part, basic products such as term and permanent do not vary widely among carriers. So what we want to delve into here are specialty products, such as LifePhases and LifePhases Plus by Assumption Life. These are usually offered only by one carrier to differentiate themselves from the rest of the pack. They can be combination type insurance, mixing life and different types of health insurance together as a package. For this post we are going to talk about Child Life and Health Duo, a combination type insurance that incorporates life and critical illness insurance into one policy. Child Life and Health Duo is a unique product offered only by Industrial Alliance.

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What Is An Insured Annuity?

Are you looking for a way to provide for your family and protect your assets?

An insured annuity is the perfect solution. It provides guaranteed income, while also providing protection against inflation and market fluctuations. In the end, your assets pass on to your loved ones in an efficient way.

With an insured annuity, you can rest assured that no matter what happens in the future, your loved ones will be taken care of.

Read on to learn more about how an insured annuity works.

Annuities Life insurance

Disability Insurance

Critical Illness Insurance

The History Of Critical Illness Insurance

In Canada, the total premium of in force CII policies was $86 million 15 years ago. This number has skyrocketed to close to $1 billion as of December 2017.

What caused this tremendous growth over the past 15 years? To answer this question, we have to look back to the beginning of critical illness insurance.

You probably think CII – like all other insurance products – was created by an insurance company.

Actually, it was a doctor named Marius Barnard who was credited with the invention of CII.

This post touches on the origins of CII and how its significance changed the lives of millions of people.

Critical illness insurance

Insuring the different stages of life

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.

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Life Insurance Policy Changes

Life insurance isn’t a set it and forget it deal.

Major life events should trigger a review of your policy. During the review, you may find that you need to make some changes.

In this post, we go over changes you can make to your policy. Things like:

-Changing the beneficiary
-Increasing the death benefit
-Removing a rating

And much more.

Read on for a complete list of common life insurance policy changes.

Critical illness insurance Disability insurance Life insurance

What are the odds of a tragedy occurring?

We face many risks in our lives on a daily basis: the risk of being in a car accident, the risk of a snow storm grounding our flights, the risk of a home burglary, just to name a few. While some of the risks are a minor nuisance and not of financial significance, others have a catastrophic effect on our finances. The purpose of insurance is to transfer some of the risk to an insurance company in exchange for a fee known as the premium.

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What Is The Medical Information Bureau (MIB)?

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.

Life insurance Critical illness insurance Disability insurance Long-term care insurance

87 Simple Tips To Save On Life Insurance

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.

Critical illness insurance Disability insurance Life insurance Long-term care insurance