Types of Life Insurance
By · CommentsBasically, there are three types of life insurance products that you need to know about:
Term, Permanent, and Universal Life Insurance.
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Critical Illness Insurance
By · Comments30% of adults will become critically ill before the age of 65. The Canadian Cancer Society reports that almost 40% of women, and almost 45% of men will develop cancer during their lifetimes. In Canada, more people will experience a critical illness before they reach 75, than will die before that age.
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How Much Insurance Do I Need?
By · CommentsThis question requires careful consideration. First, ask yourself:
“If I died tomorrow, how much money would my family need?”
Insurance reduces risk and provides security for yourself and your family’s future. To know how much insurance you need, you’ll need to consider your lifestyle and what the possible risks that could affect it. When calculating how much life insurance you need, consider the following:
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Baby Boomers Influence Financial Planning Industry
By · Comments“Baby boomers have consistently had an impact on our society as we have moved through the decades, and this trend now continues in our attitude toward life insurance and financial planning. With baby boomers on the cusp of retirement their impact on the financial industry is undeniable.
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LIMRA researchers have identified five questions that pre-retirees and retirees should ask their advisors when developing their retirement plans:
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Are You Financially Prepared for an Unexpected Illness
By · CommentsAs if a diagnosis of cancer or other debilitating disease isn’t devastaing enough, the financial toll that the patient and their family suffers can be crippling. According to a 2009 survey of 446 Canadians with a recent breast cancer diagnosis approximately 80% of respondents experienced a financial impact. On average, the patients household will experience a 10% drop in annual income while they seek and undergo treatment, approximately 44 % depleted their savings and retirement funds, and 27% took on additional debt to cover treatment costs.
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With Mortgage Protection, You Always Have a Choice
By · CommentsWhen it comes to mortgage insurance, it’s always good to explore your options. Did you know that you could get individual life insurance that covers your mortgage with a variety of flexible benefits and at a lower cost to you? Some of these benefits include;
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Tax Free Savings Accounts
By · CommentsThe government has introduced the Tax-Free Savings Account (TFSA) as a personal savings vehicle allowing Canadians to set money aside in eligible investments and watch those savings grow tax-free throughout their lifetimes. TFSA savings can be used to purchase a new car, renovate a house, start a small business or take a family vacation, and more!
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Mortgage Insurance – Not Always a Sure Thing
By · CommentsA CBC Marketplace Report: (click to view)
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