Life Insurance for Expatriates in Canada
In recent years, Canada has become one of the world’s leading immigration hubs, accepting more than 500,000 immigrants annually. However, the recent spike in living costs and housing has resulted in many Canadians looking to relocate to new countries for better work opportunities, nicer weather, and lower taxes. While transitioning to a new country is […]
Why Millennials Need to Start Thinking About Life Insurance Yesterday!
“I am young and healthy, why do I need life insurance? It is just another expense I can’t afford” This is usually what you hear from most millennials when they are asked about life insurance. And, fair enough. After all, in today’s tough economy, with high unemployment rates, rising inflation, and low incomes, buying life […]
Pros and Cons of Group vs. Individual Health Insurance
There are two forms of health insurance in Canada, public (basic) and private (extended) health insurance. Public health insurance covers basic medical services while private health insurance plans are more extensive covering costs for medical services that public health insurance doesn’t provide, including prescription medications, dental care, ambulance services, dental care, and eye care. Private […]
How to Update Your Insurance Policies After a Divorce
Going through a divorce is messy no matter how amicable it may be. Division of financial assets, adapting to new living situations, and managing emotions can be draining for all parties involved. Besides personal life changes, many practical matters must be resolved during a divorce, including updating your life insurance policy. This is even more […]
Why is it Crucial to Regularly Review and Update Life Insurance Policies?
A life insurance policy is an essential financial tool that helps provide peace of mind to policyholders by ensuring the financial security of their loved ones in the event of their untimely death. But, just having life insurance isn’t enough. Life circumstances can change over time. Getting married, having children, buying a home, retiring, getting […]
What tax planning strategies can be employed with life insurance payouts?
Life insurance is a powerful financial tool that offers more than just financial security to loved ones. If used correctly, life insurance can help reduce your tax liability both during your lifetime and after your death. Not only are life insurance proceeds or death benefits not taxable in Canada, but certain policies, such as permanent […]
What life insurance coverage is most appropriate at various life milestones?
After the Covid-19 pandemic, the popularity of life insurance has only grown in Canada, and for good reasons. Today, more than half of the Canadian population has some form of life insurance according to a report by PolicyMe. There is no denying that life insurance is the most effective financial tool for Canadian families looking […]
What additional coverage should be considered with disability insurance?
Your ability to earn income is your most valuable asset. However, the likelihood of you having a disability that prevents you from working is much higher than you think with up to 40% of Canadians experiencing disability for 90 days or longer before the age of 65. The right disability insurance policy can be a […]
Are Joint Life Insurance Policies Cost-Effective For All Couples?
Insurance provides couples with much-needed financial security for their families in the event of the death of one or both partners. Recognizing this, insurance providers started to provide joint lie insurance policies for couples, advertising them as being cost-effective and providing coverage to both partners for the price of one insurance policy. However, the matter […]
What Should Expatriates Consider When Purchasing Life Insurance In Canada
An insurance policy gives a great deal of comfort, as it ensures that your loved ones are provided for in the event of your demise. However, you should not be opting for the first insurance plan that comes your way and, as an expatriate, there are many considerations you should take into account before deciding. […]
Mental Health and Life Insurance Policies
Having a mental health condition calls for being weary of many things. But what you must keep in mind is the fact that mental health is not a destination but a journey. Since 2001, the mental health and life insurance industries have been working together to develop adequate life insurance outcomes for people struggling with […]
Insurance Riders and Additional Coverages
Insurance policies offer a great deal of comfort to many people, as they offer a safety net for families in the event of any tragic event. However, insurance policies can cost a good deal of money and not all policies will offer full coverage. Luckily, with time people have become a lot more aware of […]
What Are 5 Examples Of Employee Benefits?
Let’s face it, most of the time, people are looking for jobs, either, because they don’t have one, or are searching for one that offers higher pay. However, for many Canadian job seekers, higher pay isn’t always the most attractive incentive for choosing one company over another. Employee benefits can in many ways outweigh a […]
Comparing Life Insurance Quotes in Canada
Did you know that approximately 58% of Canadians have some form of life insurance according to a 2022 report by the Canadian Life and Health Insurance Association (CLHIA)? The reason why so many Canadians opt for life insurance is because they want to ensure the financial security of their loved ones if something untoward were […]
What are The Tax Implications of a Family Life Insurance Policy?
Buying a life insurance policy is much like buying a home or a car for the first time. It requires careful deliberation and consultation with experts to help you make a more informed decision. If you are considering investing in a life insurance policy you may feel that the more you dig the more you […]
Why Is It Important For Young People To Consider Getting Life Insurance Coverage?
It is normal for younger people to think that life insurance is not for them as for now the world is their oyster and the last thing they are worrying about is their health and dependents. Young people who have just started earning may also be on tight budgets and paying monthly premiums on a […]
The Financial Impact of Not Having Life Insurance
Without life insurance, you risk leaving your dependents and loved ones without any financial protection in the event of your untimely death. This is why most Canadian families opt for an individual or group life insurance policy to financially protect their loved ones from a sudden loss of income, unforeseen debts, and funeral costs in […]
Importance of Regularly Reviewing Your Life Insurance Policy
Many people believe that once they have secured a life insurance policy there is little need to review or change the policy. In fact, many people tend to think that once they have opted for a policy it can’t be changed even if they wanted it to be. This isn’t the case. One can, in […]
The Role of Life Insurance in Estate Planning in Canada
What does life insurance have to do with estate planning? A lot, actually! While estate planning is an essential process that allows individuals to better preserve, manage, and distribute assets both during and after their lifetime, life insurance is the tool that protects and safeguards wealth for future generations. If you want to learn more […]
The Impact of Age and Health on Life Insurance Premiums in Canada
Is there a perfect age for life insurance? Does having perfect health mean you get the lowest premiums? Is it worth getting life insurance in your old age? These are but a few questions that many Canadians have in mind when considering investing in a life insurance policy. The impact of age, health, and various […]