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Life Insurance

What you really need to know about permanent insurance

As noted in a previous article there are two families of life insurance available in Canada; Term Life Insurance and Permanent Life Insurance.  The most misunderstood of those two types is permanent life insurance.  In this article we’re going to clarify those misunderstandings.  Then we’re going to show you how Guaranteed Universal Life and Whole Life may be better products than Term to 100. Bad Whole Life Also known as Enhanced Whole Life, you can smell this insurance coverage whenever the word ‘dividend’ is mentioned.   ...
Life Insurance

Insurance everyone needs to consider

Let’s face it.  Life insurance and insurance is general while critical to financial planning is not exactly a sexy topic.  Now that I wrote the word “sexy” maybe I have your attention! Whether you’re young and single, young and married, you have children to put through school, or you’re getting ready to enjoy your empty nest, insurance to protect yourself or your family against a catastrophic loss should already be part of your financial plan.  If not, this post will turn you in the right direction.  Let’s look at some questions ...
Life Insurance

Life Insurance 101 and Then Some

Let’s face it, life insurance, the various types, terms, products and durations available to the Canadian consumer is downright confusing and overwhelming.  I’ve struggled to figure this stuff out and I write about personal finance, saving, debt and investing every week.  So, for today’s post thanks to some help from my friends at LSM Insurance I thought I’d post a life insurance primer, and then some.  The guidelines below are just that, there is no one-size-fits-all when it comes to risk.  That’s what insurance means to me anyhow, ...
Life Insurance

Does Life Insurance for Seniors Make Sense?

After I read this question myself, my immediate answer was “no”.   Maybe that was narrow-minded. I know for our financial situation, decades from now, I’m trying to avoid paying life insurance premiums.  This is because my wife and I hope we can self-insure at some point.  Today’s post will highlight why life insurance may make sense for some seniors.  I’d like you to be the judge whether these situations might apply to you or the people you care for, and create a dialogue about it via my comments section below.  As always, I want ...

The greatest retirement asset you’ll ever have

“The proper way to think about life insurance (and disability insurance, critical illness insurance, and even unemployment insurance) is a hedge for your human capital. – Moshe Milevsky, Associate Professor, Schulich School of Business, York University and respected financial author Your home is not the biggest asset of your life. If a 25-year-old earns a starting wage of $40,000 before taxes and works for 40 years, and receives a pay-hike of 2% per year, they can expect to earn almost $2.5 million during their working career and their annual ...

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