Posted on: June 12, 2017
Most Canadians take the correct steps to protect their property against loss in case anything they own is lost or stolen.
Posted on: December 7, 2015
Sally has been working for the same company for over twenty years. About a year ago, she was given a new group benefits booklet because her employer had switched insurance companies. Like most people, she put it aside and intended to read it when she "had the time." Sally was just diagnosed with terminal cancer and made the time to read her group booklet. She was upset to learn that the life insurance coverage with the new insurer was only one times annual earnings. The previous coverage had been two and a half times annual earnings.
Posted on: September 14, 2015
Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance policies will pay out later.
As a result of this new legislation, the affected demographics are middle-class consumers, business owners and wealthier Canadians looking to pre-fund their estate tax bills using cheaper life insurance dollars at death.
Permanent Life Insurance policies include insurance and savings in a single tax-advantaged plan.
With Permanent life insurance you have the ability to change your coverage, deposits and often your investment choices in response to your changing needs, conditions, or circumstances.
The two most common types of Permanent Life Insurance are Whole Life and Universal Life.
Posted on: April 9, 2013
Owen is married and has two children. He has been working at the same company for over five years and relies heavily on his employee group plan for his life insurance needs. A new single co-worker got the same benefits after only 90-days and Owen wonders if his group insurance can let him down.
Owen learned that group benefit plans treat all employees the same, regardless of individual needs. Coverage amounts may be determined by income, but a single worker with the same earnings will get the same benefit as a married worker with children.