Product review: Humania’s P.A.G.E.
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.’
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.
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.
Insurance for the elderly: What you need to know
When people talk about life insurance, they immediately think of the working class with a family that depends on them for their income. The loss of their lives would have a devastating effect on their families’ finances, and life insurance on their lives is common to prevent such a loss. While that may be the most common demographic that requires insurance, the elderly segment of the population should not be neglected. In this post, we will discuss the types of insurance seniors need.
LifePhases: an alternative to term and permanent life insurance
The main argument against term insurance is that premiums often increase dramatically at renewal, becoming up to five times as expensive at the first renewal and up to one hundred times the initial premium at the final renewal. The premium increases do not reflect the increase in an individual’s income. On the other hand, permanent insurance is likely to be too expensive initially, beyond the means of the average consumer. There appears to be room for an intermediate product that has neither the outrageous renewal increases of term nor the staggering initial costs of permanent insurance. PPI Solutions, along with Assumption Life, came up with a solution, called LifePhases and LifePhases Plus.
Term Vs Permanent Life Insurance: Which Should You Choose? [Infographic]
I think you’ll agree with me when I say:
Life insurance products are WAY too confusing for the layman.
Or is it?
Well, it turns out that the vast majority of life insurance products fall under 1 of 2 categories: term and permanent.
Two categories – much easier to remember than dozens of products, right?
In this post, I will do a thorough comparison between them – the ultimate term vs permanent life insurance showdown.
And in the end, I’ll also help you answer the question:
“Which one is right for me?”
Permanent life insurance: 5 most common uses
Permanent life insurance has long been compared to term life insurance in terms of suitability and usage. While some favour term, permanent has its own set of benefits and uses. In this post we highlight permanent life insurance and its 5 most common uses: final expenses, investment/insurance hybrid, legacy, estate equalization, business applications.
5 important points to consider when purchasing life insurance
Five important points to keep in mind when thinking about purchasing life insurance. Know why you’re buying it, how much coverage is needed, whether to buy term or permanent, choosing additional options and affordability. There is no “perfect policy” that is suitable for everybody. The only perfect policy is one that is in force at the time of death of the life insured. Start by discussing with your family what your objective is for purchasing life insurance, and speak to a licensed insurance professional about your different options.
