life insurance Archives - Brian So Insurance

Understanding Life And Critical Illness Insurance: A Buyer’s Roadmap

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Life and critical illness insurance form the bedrock of safeguarding your future and that of your loved ones. Life insurance ensures financial stability for your family in the event of your premature death.

In addition, attaching critical illness insurance as a rider to a life insurance policy adds another layer of protection. This supplementary coverage offers a lump sum benefit upon diagnosis of a covered illness, providing financial support during challenging times.

Should you add critical illness insurance to your life insurance coverage? Or should you keep them separate? Do you even need both? In this post, we answer these questions and more, helping you in your informed decision-making journey.

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9 Reasons Why You Were Declined For Life Insurance

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Have you been declined for life insurance?

Life insurance can help protect your family and loved ones from any financial burden should something happen to you. Unfortunately, not everyone who applies for life insurance will be approved.

In this post, you’ll find out:

Reasons why you may be denied life insurance coverage
What you can do after a decline
Which insurance companies can still provide you coverage after a declined application

life insurance underwriting

Standard Vs Preferred Life Insurance Rates

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Do you want to save thousands of dollars on your life insurance policy?

You can with preferred rates.

Only people who live healthier and less risky lifestyles can qualify for these lower premiums. The discount on the premiums can be up to 30%, which could equal savings of thousands of dollars over the policy’s life.

Read on to see how you can get these premium savings.

life insurance underwriting

Are Life Insurance Proceeds Taxable In Canada?

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You know that becoming an informed consumer is key to any significant purchase—especially one as important as life insurance.

But even if you’ve done your homework, you may have many unanswered questions about the taxation of life insurance:

Do you have to pay taxes on your life insurance proceeds in Canada?
If so, when would your family receive the death benefit?
Is this money subject to other taxes?
What happens if you don’t have a beneficiary?

The list of questions goes on and on. But by learning as much as possible about life insurance—either on your own or with advice from a professional—you can do more to protect your loved ones by making sure they receive the most money in the easiest way possible.

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Manulife Vitality: Buy Life Insurance, Get a Free Apple Watch

Are you looking for a life insurance policy to motivate you to become more healthy and lead an active life?

How about one that rewards you with lower premiums and prizes like a free Apple Watch?

Now you can with Manulife Vitality.

In this post, I’ll explain to you what Manulife Vitality is and how it works.

You’ll also learn if it’s the right kind of insurance for you to protect your family and achieve your health goals.

Let’s get started.

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How Does The Coronavirus (COVID-19) Affect Life Insurance?

Has the rapid spread of the novel coronavirus got you thinking about life insurance?

You might be wondering if your existing policy covers you, or what happens if you apply for coverage now.

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Corporate Insured Retirement Program

corporate life insurance tax-sheltered retirement

On average, small business owners have 80% of their assets tied up inside their corporations.

The challenge for them is to do the following in a tax-efficient manner:

Invest the funds
Withdraw the funds to supplement their retirement
Transfer the assets to their heirs

This post explains how the corporate insured retirement program can help you achieve all the above.

corporation estate planning life insurance retirement taxes

I Analyzed 15 Life Insurance Calculators. Here’s What I Learned

I analyzed 15 life insurance calculators to answer the burning question:

How much life insurance should you get?

I looked at the recommended amount to buy. I looked at the ease of use. I even looked at the design of the calculator.

What did I learn? More importantly, which one should you use?

Let’s get started.

life insurance

Best Life Insurance For Smokers In Canada (Updated in 2024)

Did you know that life insurance for smokers is double to triple the price of non-smokers? That can add up to thousands or even tens of thousands of dollars more that smokers pay over the life of the policy!

But not all life insurance companies treat smokers the same way. The trick is to find the one that views you as low risk and offers you the best rates.

This comprehensive guide will reveal how smoking affects your life insurance rates and how you can get the best life insurance policy as a smoker.

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How Does Cannabis Use Affect Life Insurance?

Do you use marijuana?

You might know that cannabis usage can affect your ability to buy life insurance. The good news is, there are plenty of ways to get affordable coverage if you use marijuana.

In this post, we reveal how life insurance companies treat marijuana users. You will also find out how much insurance will cost for them.

In the end, you can make an informed decision about getting the right policy to protect your family.

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