There is growing speculation about the impact of the virus on Life Insurance and other related coverages such as Critical Illness and Disability Insurance. For more information on the possible implications of COVID-19, click here
Life insurers are demonstrating flexibility in response to the pandemic, smoothing the sales process through digital channels, relaxed underwriting requirements and coverage extensions. Read more
Over the past few weeks, the coronavirus crisis has cause drastic changes in people’s everyday life. And even after it passes, it’s likely to leave its mark on the life insurance industry — which means applicants must be prepared for certain changes. Read more
Half of Canadians say they don’t have a Will… Having a Will and POA documents are of utmost importance. Also once you have a Will look at it periodically and as your life changes do the necessary updates. It’s not that difficult to be prepared and will spare others a lot of unnecessary grief and undue burden…read more
For 2017 tax filing, here are changes you can share with clients, courtesy of the CRA…Read more
Overall, most parents in or near retirement want their children to have it better than they did, but times have changed. We have transitioned from a society of savers to one of debtors.
This means that many members from Generation X (ages 39 to 53), are faced with trying to keep their heads above water….Read more
When couples separate or divorce, they often don’t know if family gifts or inheritances stay separate or become communal property.
While a thorough review of each case’s circumstances is always required, in general, Ontario law regarding gifts and inheritances is based on timing…Read more
It seems like a logical choice. Instead of paying a professional to be your executor, why not choose a beneficiary to do the job instead? It can work, but mixing those roles can create complications for an estate. Read more
More 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…
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.