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.
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? A Comprehensive Guide To Pricing
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!
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.
Wealth Transfer Using Life Insurance
Are you looking for a way to transfer your wealth to your children in the most efficient way possible?
Did you know you can do this with the wealth transfer strategy using life insurance?
With this strategy, you:
Reduce the tax you have to pay
Avoid costly probate and other estate fees
Can build up significant cash value inside the policy tax-sheltered
And much more.
So if you’re want to know more about how this strategy can help protect your wealth, this post is for you.
Let’s get started.
Estate Planning Using Life Insurance
This is the complete guide to estate planning using life insurance.
In this post, you will learn:
-What estate planning is
-How much tax, probate fees, and other costs your estate has to pay
-How life insurance is a cost-effective way to cover these expenses, preserving your estate for your loved ones
So if you’ve ever wondered how life insurance fits into your estate plan, you’re in the right place.
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.
