Life Insurance in Canada

Speaking from a position of life insurance broker, I can understand the frustrations when it come to purchasing a traditional life insurance policy that requires the accountable medical form which should be completed. This occurs when most people can’t account for planning in the future but want to make sure that their family is well taken care of. When it comes to these troubles then then look no further than the types of policies that require no medical interegation. These are called ‘Simplified Issue Policies’ and ‘Guaranteed Issue Policies’ but you must be careful because there are many differences between the two.

Simplified Issue Life Insurance Policies

For this type of policy questions need to be answered but this does not involve you being fully exposed medically. These policies are though limited because they only pay out to a peak of $150,000 because companies are afraid of losing too much due to the lack of protection. To be more accurate companies are at greater risk at losing money because a medical examination was not carried out before the agreement was made. Under the traditional insurance policy that caters a medical exam, once a full examination is completed and if you are in good physical and mental health and your medical and family history meets no question, it is only then when you can be offered good or standard rates. On the other hand if you are personally experiencing chronic health you will be charged additional costs and if your condition is thought to be a major or terminal disease then your application will be unacceptable. Plans such as the Simplified Life Issurance Policies can be very fast and there is no need to go through the tedious process of a full medical scrutiny. Although if you have been refused insurance in the last two years you will not be able to use this policy. Don’t forget that the more questions you answer, the lower the premium will be in the end.

Guranteed Life Insurance Policies

With these policies, there is no need foranswering questions, no need for a medical follow through and no small underlying writing. These policies are available to those people that have been refused during the last couple of years. Final expenses are fully covered with this policy. The limit is usually only $25,000 and benefits are usually limited to a return inc. the interest, if the person with the policy dies within 2 years of the agreement. Although the payout is made straight away if the person holding the policy dies by accident.

I have spread some lines so far and suddenly realized I haven’t written much about our team. So, why not now?!

• Lorne Marr CFP MBA (Company President) Proud Ontarian, I have been a practicing financial planner for more than 15 years having graduated from the University of Windsor with an Master of Business Administration. Nine years ago I completed the internationally recognized Certified Financial Planner designation. I am a member of Advocis - The Financial Advisors Association of Canada. I have been also been a keynote speaker at numerous industry functions and has appeared in The National Post, The Toronto Sun, the Investment Executive, The Advisor’s Edge and the Insurance Journa My promise to providing clients with value-added service has made me a leader in my industry.
• Chantal Marr BEd (New Broker Supervisor) Chantal Marr comes from Quebec and was raised in Thornhill, Ontario. She completed her BA at Laval University in Quebeck and Bachelor of Education at the University of Western Ontario. Chantal has a zeal for helping people and has very strong leadership and organizational abilities. Chantal is in charge of new business development at LSM and works closely with our group of insurance brokers. Chantal interests include languages and travel and she is fluent in.
• Amy Bitton BA (Insurance Consultant) Amy was born and raised in Toronto, Ontario. She has been insurance insider for several years. But an unexpected family experience further strenghtened Amy’s belief in life insurance and motivated her to get her professional liense and join the LSM team. Amy has an extensive background in marketing and speaks Spanish fluently. She also gained a degree in psychology. Outside of work Amy enjoys nothing more than a good hour and a half of hot yoga
• Jack Bendahan BA (Senior Insurance Consultant) Jack was born and raised in Canada and studied at York University in Toronto, graduating with a BA. Jack has extensive additional education and professional experience in debt and finance management. Jackspeaks two languages too (English and French) and is keen tennis player and loves travelling.
• Elisabeth Prosper (New Business Cordinator) Elisabeth was born and grew up in the island of Haiti before heading to France where she finished a Master Degree in Economics at the University of Aix-En Provence. Elisabeth is trilingual (Creole, French and English) and enjoys putting her strong communication and organizationa skills to work helping people. Elisabeth has her life insurance license and takes a deep interest in natural nutrition.
• Aman Kapur MBA (Senior Insurance Consultant) Aman was born and raised in New Delhi, India where he acquired a BA (honours) in Economics. He further went to the United Kingdom to do his Masters in Business Administration from the Heriot Watt University. Aman has fantastic experience of working over four continents and has performed various roles in Finance and Marketing. He speaks fiev languages – English, Urdu, Hindi, Punjabi and Russian. Aman is fond of various performing arts, travelling and living healthy.

Life insurance forms the foundation of the majority of financial plans, yet so many continue to put it off and, for the past two decades, we have been dueling with that million dollar question, “Why?”

Canadians consider themselves too old. Many don’t notice that most Canadian insurance carriers~companies insure individuals Really, there is no need to hesitate because of your age.

They consider own health too weak. However, many life insurance Canada policies are accessible without a medical test and many other policies only require a handful of basic medical questions. Moreover, many clients who have a history cancer, heart attack or stroke in the family can still obtain life insurance in Canada. You can visit our Non-Medical Life Insurance Page for for more questions.

It’s too expensive. Wrong, life insurance premiums don’t have to extend $15 a month

What’s the point of life insurance?. Believe me, even in situations where you have no debt burden with no dependents, Life insurance can have a meaning for you to deal with final expenses. When you do havewith no dependents and/or debt, life insurance is a great way how to create instant cash when you and your dependents need it crucially.

I can’t understand all those terms and conditions. I completely understand this problem. Life insurance can be pretty confusing, but with my team of professional brokers we will help simplify it for you. You can also visit LSM Instant Life Insurance Needs Calculator to find out exactly what amount of life insurance you need.

Buying a life insurance policy is important step in your life. Everybody should be careful, on the other hand all information should be considered.