Insurance Blog

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Cheap Life Insurance: Which One is the Cheapest and How to Get It

Life Insurance during and after the pandemic Life insurance has always been a part of life for many Canadians, either in the form of an individual life insurance policy, a group life insurance policy, or as mortgage life insurance. The COVID-19 pandemic brought some changes; in particular, the increased ability to get many different types of life insurance, even cheap ones without a medical exam. Nevertheless, if you are starting to look into life insurance options, it is important to be sure to look at ...
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COVID-19 and No Medical Life Insurance – What You Must Know

The latest COVID-19 developments The coronavirus (COVID-19) pandemic continues to spread around the world at an alarming rate. In April, the virus had infected more than 2 million people and caused over 170,000 deaths worldwide. During April, Canada experienced more than 30,000 infections and over 1,700 deaths. Everyone knows someone who has been affected by the pandemic, through illness, which is why so many people have already opted for safe sanitization for all environments in their homes, and workplaces to keep the virus at bay ...
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No Medical Life Insurance and COVID-19 | 5 Things You Must Know

The COVID-19 Pandemic in Canada The Coronavirus (COVID-19) pandemic continues to spread around the world with over 1,350,000 people infected and more than 75,000 deaths to date. Canada is affected with over 17,000 cases and nearly 325 deaths as of April 6, 2020. These numbers are heartbreaking – the crisis impacts every person, every company, and every industry. The insurance industry is not an exception and many insurance companies are dealing with the uncertainly of how to manage this risk. We talked to life insurance professionals ...
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No Medical Disability Insurance in Canada: 4 Things to Know

When you think about life insurance, you often think of the benefit your family receives if you pass away. However, life insurance covers far more risks than death. Disability is actually a greater risk than death for the average, healthy, middle aged Canadian adult. According to MoneySense, nearly 1 in 6 Canadians, before they turn 50, will experience a disability that disrupts their income for three months or longer. This will mean that they have had to change their life around for a period of ...
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No Medical Life Insurance vs Traditional Life Insurance Rates

The term “no medical life insurance” has been floating around for some time now. Many are aware that it exists but are not sure of what it comprises. Today we will break down the ins and out of no medical life insurance and show you how it compares to traditional insurance both in policy types and rates. What is No Medical Life Insurance? No medical life insurance is a policy anyone can apply for without having to take a medical exam. On the other hand, ...
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Dangerous Jobs and Life Insurance: What You Must Know?

You know that protecting your family with life insurance is a smart move, but what if you have a career that makes underwriters view you as risky to insure? Some of the most rewarding careers are the riskiest, but there are still ways to get life insurance at an affordable rate. Today we will look at which jobs increase your life insurance rates the most, and how to get life insurance for risky careers. Many accidents that happen on these sites may have been avoidable ...
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Life insurance infographics

How to Choose the Right Life Insurance – Visual Decision Help

When insurers sell a policy, they always assess risks associated with that policy. Those with lower risks (e.g. younger person, no bad habits, no health pre-conditions) get life insurance rates that are typically lower than those with a history of health pre-conditions and a number of bad habits, like smoking. Based on these risks, you can qualify for one or more of these four insurance types (shown here in order of increasing risk, and thus, increasing coverage costs): Traditional Life Insurance (also called Standard Life ...
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Life insurance companies infographics

Life Insurance Companies in Canada – Who Owns Whom

The variety of life insurance companies in Canada is not what it appears to be in the Canadian market. From a consumer perspective, there are nearly 50 life and health insurance providers, but the reality is a bit different... (scroll further down to continue reading) Here you can download this infographic as a PDF What are a few key things to start with? 1. The majority of the market is owned by three life insurance giants: Manulife Financial (who also owns, among others, John Hancock ...
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No Medical Life Insurance – 15 Myths You Need to Know

Most of the articles about insurance myths talk about typical car insurance legends, such as higher insurance for red cars. Barely anybody focuses on the misinformation about no medical life insurance! Before we start, here’s a quick recap. No medical life insurance is a type of insurance that does not require a medical test. There are two types of no medical policies: Simplified Issue No Medical Life insurance has no medical exam, but still has a medical questionnaire that you need to complete. You will ...
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No Medical Life Insurance: 22 Tips to Get the Best Rate

No Medical Life Insurance: 22 Tips to Get the Best Rate

No medical life insurance is viable life insurance option for those who either cannot qualify for standard insurance or those who prefer to skip the medical exam, which is an inescapable part of any traditional life insurance assessment. No medical life insurance has some special aspects though that you should know in advance before getting a life insurance policy. No medical life insurance comes in two different forms: Simplified issue has no medical exam, but you are asked a few questions e.g. about your lifestyle ...
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