The Life and Health Insurance Education Centre (EduCentre)

Next time somebody offers you insurance and need you to ask yourself to simple questions; 1) what is the likelihood of the event occurring, and 2) what is the financial impact to you and your family. Then judge if it is really worth it. Very often we are paying for insurance we don’t really need because either we will never claim on it or the financial consequences are very small.

In this article we will discuss the cost/benefit analysis of having a return of premium rider on your disability insurance policy. That being said, the most important thing when buying disability insurance is to have enough income protection in place to ensure that your lifestyle and monthly bills are covered. After that we can look towards building value into a plan with pseudo-equity component which is the ROP rider.

Manulife Bank is a Schedule 1 bank owned by Manulife Financial. An online bank, it’s been in business for 20 years and is Canada’s eighth-largest domestic bank. Manulife Bank works closely with financial advisors, like our team here at Life Guard Insurance, to help Canadians integrate premium banking products into their financial portfolios.

If you’re like most people, the idea of buying life insurance seems like a chore – something that is easily put off until tomorrow. Well, for the procrastinator in all of us we know that tomorrow never comes. It’s a funny thing that we all put off important things for “another day”, especially when they seem uncomfortable or costly. Buying life insurance can be both.

I don’t think I’ve ever met anyone who rolled out of bed saying, “This is a wonderful day – the day I buy Life Insurance!” I know that your insurance broker (counting myself amoung the group of life insurance brokers) is probably a lot more excited to sell you a policy than you are about buying one.

One of the biggest obstacles to buying life insurance is cost. So many people think that life insurance is expensive and they just can afford it along with all their other bills. Is life insurance expensive? Well, it depends. There are many factors determining the price for life insurance. For some people, buying term life insurance, the price can be very affordable. For others, who are older, smoke or have a health condition, the price can be very high.

Universal life insurance has been Canada’s most popular life insurance policy for the past 30 years, as measured by total new premium. It’s appeal comes from its flexibility and investment tax savings inside a life insurance policy.

This video is an overview of how Long Term Care Insurance works in Canada. This product is not offered by all Canadian Life Insurance Companies. LTC is designed to pay out a weekly or monthly tax free benefit to policy holders when they need care and assistance with daily activities of living, or they suffer from some form of cognitive impairment, like Alzheimer’s. There are six basic daily activities of living, as defined by the medical professional and the tax act. Needing help with 2 or more of these activities will activate your benefit from your long term care insurance policy.

When many people think about life insurance, they tend to think of it as a luxury. ‘I’ll get it someday’ or ‘nothing’s going to happen to me, I’m young and healthy’ are very common thoughts about the subject. However, life insurance should be looked at as a necessity because when you look at the big picture, you really are incapable of predicting what will happen to you and when.

Taking care of your family’s needs should be a priority and many people would agree that it is worth working hard and sacrificing on the luxuries to give their families what they need. But what happens after you die? Sure it is easy to take care of your family while you’re alive, but when you’re dead, who will take on that kind of responsibility?

Life Guard Insurance brings you 5 curated articles about life insurance for Monday, 19 Nov 2012. Today’s topics include: Manulife posts a loss for Q3, but less than a year ago; Sun life has posted a profit for Q3, and stopped the losses it was taking; According to BMO survey, Canadians only give themselves a passing grade for financial literacy; and more …

Probably no topic has engrossed the insurance community as much as the issue of life insurance for children. Even financial advisors and other professionals have joined the debate. Some are in support of children’s life insurance and others opposed it vehemently. This is expected of any issue that has far-reaching implications.