What Constitutes A Smoker?
When it comes to life insurance for smokers most insurance companies in Canada believe that a smoker is someone who has used some form of nicotine product or marijuana within the last 12 months. Included in the definition of nicotine products are cigarettes, pipes, cigars and nicotine gum or patches.
Should you choose to quit smoking during your policy term then there are a number of options that can save you money. It is possible that you could change to the non smoker category and therefore receive lower premiums however if your health has changed since the start of the policy this option may not be available.
Are Canadians Under-Insured?
According to the Canadian Life and Health Insurance Association, more then 20 million Canadians are protected by life insurance with an average amounts owned were $156,200 for insured individuals and $312,200 for insured households.
That leaves approximately 30% of individuals without important insurance protection as well insured households only having an average amount of $312,200 of life insurance, this could represent many families being under-insured in Canada.
Creating awareness around the need for life insurance is paramount there are many brokers and insurance agencies in Canada available to help with your insurance needs, call a insurance professional whether you are protecting your family your business there is help out there.
Author: Peter C.
Which Type Of Life Insurance Is Best For You?
Which Type Of Life Insurance Is Best For You?
In regards to life insurance there are two basic types, one being term and the other permanent. But, which type of life insurance is best for you?Term insurance provides life insurance for the amount of time that the policy holder specifies. If the insured dies within the specified time, the face value of the policy will be given to the beneficiary. However, if he does not die within that time span and the policy is not renewed, then nothing will be paid out. Permanent life insurance on the other hand, provides insurance protection for the policy holder’s life span. In addition, there is a savings element. There are two common types of permanent insurance: whole life insurance and universal life insurance.
The Importance Of Life Insurance For The Stay-at-home Spouse
The loss of a stay-at-home parent is emotionally devastating for a family. Unfortunately, it can cause serious financial difficulties, as well. That’s why it’s important for stay-at-home spouses to have life insurance protection.
Some families choose to have one parent work outside the home while the other stays home to take care of children. Other families are forced into such a situation by limited childcare availability or other circumstances. In either case, most people would agree that the wage earner in any family should have life insurance protection. After all, how would the family survive without a breadwinner’s income?
What about the Spouse at Home?
If something were to happen to a stay-at-home spouse,
7 Reasons You Might Need More Life Insurance!
7 Reasons You Might Need More Life Insurance!
Do you have enough life insurance coverage? In many cases, there’s a major gap between the amount of coverage you need and the amount you have. Meaning, you might need more life insurance!
As you reach different stages in your life, your needs will change. If you fail to update your insurance policy as your life changes, you could find yourself grossly under-insured.
Reason #1: You own a home
If you’re planning on purchasing a home or refinancing your mortgage, protect your investment with life insurance. If you’re unsure about purchasing insurance, ask yourself this question: could your family make mortgage payments without you?
