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.
Corporate Insured Retirement Program
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.
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.
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.
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.
Bill to prohibit genetic discrimination is now law
On May 4, 2017, Bill S-201: An Act to prohibit and prevent genetic discrimination received Royal Assent and became law. The bill prohibits any person or insurance company from requiring an individual to undergo a genetic test or requiring an individual to disclose the results of a genetic test as a condition of obtaining insurance.
What to do with your term insurance policy as you head into retirement
It’s no secret that life insurance becomes more expensive as we age. Premiums are related to the mortality rate and the decrease in our life expectancy as we get older is reflected in the increased premiums. What you may not realize is that this risk is not represented by a linear line. If you graph the probability of death from an actuarial life table, you would notice that the probability of death increases exponentially as we age. What this means for term insurance is that renewal premium also rises exponentially, such that they become unaffordable during retirement. So, what are your options for your term insurance policy as you head into retirement?
How You Can Save Thousands By Laddering Life Insurance
What is the life insurance laddering strategy?
No, you don’t build an actual ladder with life insurance. (How would that work anyway?)
Instead, you buy term insurance of different lengths (term-10, term-20, etc) at the same time so that you coverage is staggered.
This ensures that you pay only for coverage you need while saving money in the process. It could end up saving you over $10,000!
Read on to find out how this strategy works.
Joint First-To-Die Life Insurance in Canada: Pros and Cons
Joint first to die life insurance is a simple and cost effective way for couples to protect their family’s financial security. With one policy covering two people, the death benefit is paid out after the first insured person passes away, helping the surviving partner pay off debts, cover living expenses, or maintain their lifestyle.
This guide explains how joint first to die life insurance works, who it’s best for, the pros and cons, and how it compares to individual policies — so you can decide whether it’s the right solution for your family.
Joint Last-to-Die Life Insurance in Canada: How It Works & Costs
Joint last-to-die life insurance is a specialized form of permanent life insurance designed primarily for tax and legacy planning. While it isn’t right for everyone, it can be an extremely effective solution for couples who want to cover future taxes, preserve wealth, and leave a meaningful legacy to their heirs or favourite charities.
This guide explains how joint last-to-die—also known as second-to-die—life insurance works in Canada, who should consider it, how much coverage typically costs, and how it compares to other joint life insurance options.