Millennials – Life Insurance Gap

millennialsMore than half of the Millennials in Ontario do not have a individual insurance policy on their mortgages.

The Financial Services Commission of Ontario (FSCO) recently hired Environics Research to discover how much Millennials know about mortgages. The poll found that 47% of those between the ages of 25 to 34 were “not very” or “not at all” confident about the subject, and only 12% described themselves as “very confident” when dealing with banks and other lenders.  Read more

Snowbird Travel Insurance Survey Results

travelThe Canadian Council of Insurance Regulators (“CCIR”) proposed a consumer survey surrounding travel insurance . Consumers were asked to give their input on their concerns over purchasing insurance and to offer up their comments.

The survey outlined fair treatment of consumers, potential issues related to Travel Health
Insurance (“THI”) and options to enhance consumers’ protection and confidence.

The results are now available…Survey Results

Segregated Funds for the Older Market

Segregated Funds for Estate Planning

Segregated Funds for Estate Planning

Canada Life’s new Estate Protection segregated fund product offers a 100% death benefit to clients who are between the ages of 80 and 90.

In promotional materials released earlier this week, the insurer says the new product is meant for clients who want to “leave a meaningful legacy for those who matter the most to them” and will provide older investors with a “sense of control, certainty and relief”.    Read more »

Manulife Bank – $750 Cash Back

If I could show you a way to reduce debt quicker and save interest costs would you be interested in hearing more? For a limited time Manulife Bank is offering $750 cash back on new Manulife One accounts.

Manulife One is a unique all-in-one mortgage, line of credit and bank account. By combining your savings and what you borrow into one account, Manulife One could help simplify your banking and give you the flexibility and freedom to choose what’s right for you: save, be debt-free sooner, renovate your home, pay for the unexpected and live better.

To learn more about Manulife One and how to take advantage of this special, limited time offer, contact me today.

 

Visitors to Canada Medical Insurance

International Visitors to Canada

If you have family or friends coming to stay, let them know that the Canadian government recommends that they get proper insurance coverage during their stay. Health care shouldn’t be a financial burden. Here are some real life examples that demonstrate the value of investing in a comprehensive visitor’s plan: Visitor Claims

Health care shouldn’t be a financial burden. Contact me for a free no-obligation quote for your loved ones.

Summertime Blue is Back!

Unlimited Travel Coverage for the Summer at Great Rates!

Enjoy peace of mind this summer with Blue Cross Summertime Blue travel plan, covering an unlimited number of trips between June 6th – September 6th, 2016. Summertime Blue is the perfect plan for summer travelers, especially families. Parents and children are covered even when they travel separately.

One affordable price for an unlimited number of trips during the summer, regardless of length of stay, for everyone in the family. Up to $5,000,0000 in emergency medical care; 24/7 assistance in case of an emergency. For more details and rates contact me.

Simplified Life Insurance

Experiencing Rapid Growth in an Expanding Market

Simplified products were first aimed at the seniors and the hard-to-insure market, many of whom had health issues and couldn’t get traditional coverage. Now these products are covering both ends of the spectrum, attracting the brisk, on-demand, millennials and those that are healthy, but find the underwriting arduous, or don’t want to have a medical. In many cases, rates for the Simplified Insurance plans are comparable to underwritten plans especially if someone has a larger build, or takes a combination of medications, i.e. for hypertension/diabetes. These cases are typically ‘rated’ with a higher premium with underwritten products, so a Simplified Plan is often a better choice, as it could save you from facing a substandard rating, postponement, or decline.

So whether you are 18 or 80, are hard to insure or in good health, I have a plan that’s right for you. For more information on Simplified Issue and other life insurance products, contact me for a free no-obligation quote.

Ontario Introduces ORPP Legislation

In April 2016, Kathleen Wynne’s Liberal government introduced the Ontario Retirement Pension Plan Act. If the legislation is passed, it will require workers to join a new Ontario Retirement Pension Plan, if they are not already members of a comparable workplace pension plan. The legislation claims that its new pension plan will offer a lifelong, inflation-indexed stream of income with up to 15% of an individual’s pre-retirement earnings. All employees between 18-70 will be required to join the ORPP if they are not already covered by a comparable plan. Enrolment is scheduled to begin in January 2017 and the collection of contributions will be phased in starting in January 2018.

Ontario notes that current federal income tax and pension rules prevent the self-employed and non-crown federally regulated workers (i.e. those who work in banks, telecommunications, railways, or air transportation) from joining, although the province says it is in discussions with the Federal government about making changes that would make their participation possible.  The Ontario Ministry of Finance is still working on the plan design and more details will be revealed when the accompanying regulations are published this summer.

Hard to Insure? I Can Help!

Hard to Insure? I Can Help!

When it comes to Life Insurance, one size doesn’t fit all. I offer a wide range of Whole Life and Term Life including plans from Canada Protection Plan, to ensure you get the quality coverage you need with rates that are among the lowest in Canada. So whether you are 18 or 80, are hard to insure or in good health, I have a plan that’s right for you. For more information on simplified issue and no-medical life insurance, contact me for a free no-obligation quote.