What Happens if I Outlive My Term Life Insurance?
Unlike permanent life insurance, term life insurance only lasts for a pre-set period, usually 10, 20 or 30 years. If you die within that period, your beneficiaries receive a death benefit. However, if you outlive your term life insurance policy, the policy expires, and you receive nothing. That is, unless you had opted for specific […]
Group Benefits vs. Health Spending Accounts (HSA): Which is Better for Your Team?
41% of Canadians receive benefits through an employer plan, whether that be through group benefits, health spending accounts, or a combination of both. But what are group benefits and HSAs? How effective are these plans in helping attract and retain top talent? And which is better for your team? Let’s find out! Key Takeaways: What […]
Hypertension Life Insurance
Key Takeaways Hypertension or high blood pressure is one of the most common chronic conditions in Canada, affecting nearly a quarter of adults aged 20 to 79. Having hypertension makes an individual more susceptible to heart disease and stroke, the second leading cause of death in Canada. But does that mean you can’t get life […]
Sleep Apnea & Life Insurance
Key Takeaways According to the NIH, in 2024, an estimated 5.4 million Canadians were diagnosed with sleep apnea, with this number expected to increase in the coming years. But what is sleep apnea, and how can it impact your ability to get life insurance? Let’s find out! Sleep Apnea and Its Impact on Life Insurance […]
Life Insurance After a Heart Attack
According to Statistics Canada, heart attacks or strokes are the second leading cause of death in Canada, accounting for over 53,000 deaths per year. The worrying part about heart disease is that it rarely shows any symptoms until it’s too late. This is why heart attacks have such high fatality rates and why insurers consider […]
Crohn’s Disease and Life Insurance: What You Need to Know
According to Crohn’s and Colitis Canada, about 1 in 140 people live with Crohn’s or ulcerative colitis. That’s more than 300,000 Canadians, and this number is rising year on year. If you have been recently diagnosed with Crohn’s or know someone who has, you are likely wondering, will this impact life insurance? In a word, […]
Life Insurance and Alcoholism – Key Factors
So, you’ve had a few wild nights, maybe even a few wild years, and now you’re wondering how that might affect your life insurance? Fair question. Insurance companies take alcohol history seriously, and it can impact your rates—or even whether you get a policy at all. But don’t worry, if you’re on the path to […]
The Best and Worst Sports For Life Expectancy
Playing sports isn’t just about fun or staying in shape; studies show it can help you live longer! Some sports can add years to your life, while others, surprisingly, may not be as beneficial in the long run. That’s why the type of sport you play can sometimes impact your life insurance premiums. Let’s explore […]
Life Insurance for Newlyweds
Congratulations on your recent marriage and kudos for considering securing your financial future together as a couple! By searching “life insurance for newlyweds” or “why life insurance is important for newlyweds” you have taken the most practical first step you can take to ensure long-term financial security and much-needed peace of mind. Life insurance has […]
Key Life Insurance Benefits Business Owners Overlook
When you’re running a business, the hustle never ends. Managing employees, deadlines, and chasing growth are likely always on your daily priority list. But what about planning for the unexpected? Just like your family needs financial security, so does your business. Key Person Life Insurance can help safeguard your business, secure its future, and help […]
How Smoking and Alcohol Consumption Affect Your Life Insurance Rates
Why is life insurance so much more expensive for smokers or those who drink heavily? The answer lies in the underwriting process. When you apply for life insurance, insurance providers assess your health risks based on lifestyle choices, including smoking and alcohol consumption. These habits are proven to increase the likelihood of serious health issues, […]
Disability Insurance for Small Business Owners
As a small business owner in Nova Scotia, you’re probably the heartbeat of your operation. But what happens if you can’t work due to a disability? Statistics from the Canadian Life and Health Insurance Association show that one in three Canadians will experience a period of disability lasting longer than 90 days during their working […]
Life Insurance for New Canadians: What You Need to Know
Canada has always been a land of immigrants. Even today, over half a million new immigrants come to Canada annually; the highest in any country. If you are planning to move to Canada or are already here, understanding Canada’s laws, regulations, culture, and job market can take time. One financial tool that can help safeguard […]
What Happens to Your Life Insurance When You Retire?
Retiring can be exciting for many Canadians but also nerve-wracking. It marks the beginning of a new chapter and can bring significant lifestyle changes. But what about life insurance? What happens to your life insurance policy when you retire? Do you cash out your policy or does it just lapse? And do you even need […]
Life Insurance Options for High-Risk Occupations
If you are in a profession where the likelihood of accidents, injuries, or fatalities is significantly higher and you have financial dependents that rely on your income, you need life insurance. However, that is easier said than done. In Canada, individuals in high-risk occupations such as construction, aviation, mining, or emergency services often encounter higher […]
Steps to Take if Your Life Insurance Claim is Denied
Having a life insurance policy with adequate coverage is the best way to safeguard your family’s financial security in the event of the unexpected. The death benefit paid out to beneficiaries can help cover funeral costs, monthly expenses, and outstanding debts, and even fulfil long-term goals such as sending children to college. However, there can […]
Top 10 Life Insurance Myths
More than half of Canada’s population, around 57%, has some type of life insurance policy according to a new study conducted by LIMRA. However, there are still many misconceptions and myths surrounding life insurance, making it one of the most misunderstood financial products in Canada. Today, we seek to understand the truth behind these myths […]
Life Insurance as a Financial Safety Net
Life insurance is more than just an insurance policy. It’s a promise of financial protection and peace of mind. For many Canadians, it represents the assurance that their loved ones will be financially stable, even in the face of unexpected tragedy. As such, nearly 60% of Canada’s population, or 22 million Canadians, are covered by […]
How Much Does A Million Dollar Life Insurance Policy Cost?
Having a million-dollar life insurance policy may sound like overkill, but in today’s modern age, with increasing inflation and cost of living, a million dollars isn’t that much anymore. If you sit down and calculate how much money your loved ones would need, in case you were to pass away, you would easily arrive at […]
How Fitness Trackers Can Help You Save on Life Insurance?
The nexus between fitness trackers and life insurance has become increasingly evident in recent years. As wearable technology continues to evolve, insurance companies are now leveraging data from fitness trackers to offer more personalised and affordable insurance plans. Wearable devices such as fitness trackers can monitor various health metrics that aren’t just great for tracking […]