LIFE INSURANCE vs ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE
Whole life insurance and accidental death & dismemberment insurance (or AD&D as it is also known) do have certain similarities, one cannot replace the other. Life insurance provides your family with financial security in the event of your death barring some specific cases. AD&D insurance, on the other hand, falls under the types of insurance […]
Life Insurance Policies for Couples
Life can be very uncertain and unfair. Many of us have found ourselves saying goodbye to a loved one unexpectedly and abruptly. Apart from the emotional pain of dealing with the burden of death, one could also find themselves in a world of financial shortfalls with the loss of income. Funeral expenses alone could amount […]
Benefits for Small Business in Nova Scotia
Benefits for Small Business through Medavie Blue Cross is a brand-new group benefit offering for employers with 2-10 employees in 2021. The plan offers a full range of benefits from Life Insurance, Accidental death & dismemberment, Dependent Life, Long Term Disability, Extended Health Care, prescription drugs, and dental care. You are pooled with other small […]
Is Life Insurance Taxable?
Understanding Your Life Insurance Policy Understanding your life insurance policy is important, especially when it comes to the financial benefits it provides for beneficiaries. After all, life insurance policies are an essential contingency plan if something untoward happens to you. The death benefit of your policy can help your family to cover their financial expenses, […]
The Difference Between Critical Illness & Long-Term Disability Coverage in Nova Scotia
There are many types of insurance coverages in the marketplace, and it can be overwhelming to decide which coverage is right for you. There’s Life, Health, Home, Auto, Dental & Liability insurance just to name a few but only two specific types of coverage options can pay yourself in the event of an illness or […]
How Much Life Insurance Do I Need In Canada?
A financial advisor will recommend every person accumulate financial resources of at least seven to ten times their annual income. The life insurance options and benefits you choose will have an impact on the exact death benefit your loved ones will receive at the time of your demise. Different factors like any debts, loans, mortgages, […]
What Are The Typical Life Insurance Premiums In Nova Scotia?
It is important to understand what is life insurance in order to correctly analyze different life insurance products and life insurance premiums charged by life insurance companies. Life insurance provides a death benefit to the life insurance beneficiary when you pass away. Some types of life insurance policies have cash value while others don’t. Cash […]
Traditional Life Insurance compared to Non-Medical Life Insurance
What is traditional life insurance in Nova Scotia? Life insurance pays a tax-free lump sum payment to your beneficiary when you pass away. This can be used for final expenses, income replacement or leaving money for the children’s educational fund. Life insurance comes in two forms with a variety of product offerings, Term & Permanent […]
The Differences Between Term and Whole Life Insurance
A term life insurance policy and a whole life insurance coverage policy are two of the most common types of life insurance policies. The financial protection offered by life insurance companies can help beneficiaries meet financial obligations such as funeral expenses as well as make the right legal and financial decisions after the death of […]