Life Insurance – Ditch the Excuses! – LIFE Foundation
We as real estate investors need to get private money, and understand “what if I die too soon?”
This video shows that.
A Legacy of Love
Don’t wait until it’s too late. Now is the right time to learn how life insurance can help you leave a legacy of love for your family.
Life Insurance 101
Learn the basics about life insurance in a flash. Hear from a one of the nation’s top insurance advisors who will explain why life insurance is so important, help demystify the life insurance process and quickly provide you with a good understanding of important insurance terms and concepts.
To learn more about PwC Future of Insurance, click here.
Did you know that The Insurance and Investment Journal recently reported 10-year term life insurance rates have reduced in cost drastically over the years. The article cites many examples of companies that have significantly reduced their premiums.
Transamerica Life (http://lsminsurance.ca/canadian-life-insurance-companies/transamerica-life-ca…) for example, offered a 40-year-old, male non-smoker $500,000 of Term 10 coverage in 1998 at a rate of $510 per year and that same 40-year-old male non-smoker can now get $500,000 of Term 10 coverage for $365 a year.
BMO Insurance (http://lsminsurance.ca/canadian-life-insurance-companies/bmo-life-insurance), which previously sold their product under AIG Life of Canada name, would have charged that 40-year-old, male non-smoker $565 in 1998 and now offers the same plan at $380 a year. The downside for consumers, though, is that renewal premiums have risen dramatically in recent years. Ten years ago, insurance companies were charging renewal premiums that were two to three times the initial annual premium, but now many insurance companies offer renewal premiums in excess of seven times the initial annual premium.
Most life insurance companies in Canada offer similar rates among their term 10 lineup, but there can be big differences in the riders or features available on the policies. Additionally, brokers can add value by knowing how each company underwrites risk. Some life insurance companies treat certain conditions, such as diabetes or high blood pressure, more favourably than others. This is why it’s important that you work with a broker who is familiar with the underwriting process.
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Manulife PensionBuilder guarantees income for the rest of your life. Canadians today can look forward to a longer, healthier and happier retirement than any time in previous history. With a longer retirement comes the need to insure your income will last as long as you do.
In the past Canadians generally benefited from employer pension plans that supported their income for life. Today, Canadians have to plan for their own retirement income needs as fewer employer pension plans guarantee income for life. This is where PensionBuilder comes in. Converting all or a portion of your self-directed retirement plan, including RRSPs, TFSAs, Defined Contribution Pension Plans and personal savings, into Manulife’s PensionBuilder will give you the security of guaranteed pension income for life.
here are several types of life insurance in Canada. Find out what they are and decide which one suits your needs.