Want to Pay Lower Premiums for Life Insurance on your Mortgage? Make a few changes.

Drop that cigarette right now, if you know what’s good for your finances.

Tobacco use is a major factor insurance companies look at when they assess your premium. How big is the gap between premiums? In one account, a smoker’s policy costs $135 a month, while a nonsmoker’s costs $70. The good news is most insurance companies only require you to quit smoking for one year to qualify for non-smoking rates. Forbes’s Kate Ashford reports on this and other factors that can really add to what you will pay for life insurance.

Oakville Life Insurance Broker – Living Benefits

Once you have looked after getting enough life insurance, it is a good idea to investigate Living Benefits such as Critical Illness. Living Benefits are insurance coverages that benefit YOU and not anyone else. They protect you in case of serious illness, or injury. There are 3 main Living Benefits that cover different types of possibilities. Disability insurance and Long Term Care insurance, pay a monthly benefit. Critical illness insurance pays a lump sum. It is important to review these types of insurances. One person in three will develop a critical illness. For disability, the statistics are even higher as we age.


Want a Good Toronto Online Life Insurance Plan with Great Rates? Lose a Few Pounds

Everyone knows life insurance focuses on a person’s health and well-being, but what are the chances that life insurance also promotes them? One CBC segment hosted by Jonathan Crowe caught the attention of financial advisor Jackie McCann-Scott. One person’s journey to qualify for an insurance application made him lose 130 lbs.

Getting Toronto Life Insurance Rates to Suit Your Lifestyle and Budget

There are many factors that go into determining life insurance rates in Toronto and elsewhere through-out Ontario and Canada. Age, gender and health are the obvious factors but insurance companies also look at things you can actually control. In the industry they are called Lifestyle choices. Lifestyle choices are things like smoking, extreme sports, weight, driving records etc. Lifestyle choices can affect your insurance premiums both negatively and positively. For example if you workout, eat right and are fit you may be offered cheaper Preferred rates, conversely if you are a mad extreme sport maniac that smokes you will likely be rated, meaning you will have to pay more than standard rates.

Making Informed Choices for Life Insurance in Toronto

This is a prime example of why people should avoid Creditor Insurance offered by lenders. There was only a simple questionnaire and after death this application went through the approval process and Mr. Foreman was essentially declined. Had he went to a Life Insurance broker and applied for proper underwritten insurance it is likely that he would have been rated or declined. At least he would have known prior to dying that he didn’t have insurance on this loan. A quality life insurance broker would have then sourced him some guaranteed issue insurance and at least he would have been covered.

Toronto Life Insurance Brokers Help Families Become Financially Stable

The concept of life insurance is pretty basic—it exists to ensure that your family has what it needs should you—the income earner—unexpectedly pass away. MoneySense presents some facts on how Canadians view life insurance and sheds light on the fact that a lot of people don’t really know much about what they actually have and a full 30% don’t have any life insurance at all.

Know How to Use Life Insurance on Mortgage—Ask an Insurance Broker

“Canada’s national housing agency has increased the cost of insuring mortgages for homebuyers who make down payments of less than 20 per cent.

Starting in May, the housing agency will charge an average of about 15 per cent more to insure mortgages, CMHC said in a release Friday.

Prior to the announcement, the premiums ranged between 0.5 per cent and 2.75 per cent. Under the new rules, they will range from 0.6 per cent to 3.15 per cent.

The changes are unlikely to have a major effect on the housing market, but in real-dollar terms, the move makes it incrementally more expensive to buy a home. A heavily leveraged buyer — someone with only five per cent down, and therefore borrowing 95 per cent of the home’s value — would be most affected by the hike.”


What Determines the Life Insurance Rates of Toronto Policy Holders?

Life insurance is perhaps the best way to secure your family’s future should anything happen to you. If this is your first time getting one though, you’re probably wondering how much your premium will be. This article from Investopedia discusses the most common factors that affect insurance rates:

Life Insurance on Mortgage Debt: Buy it while you are still Young

The basic rule of life insurance is: The younger you are, the more affordable the life insurance is. Knowing this, you’d expect young adults to be the majority of people who buy life insurance. Unfortunately, this is not the case. A Financial Post article by Melissa Leong relates how young people are seemingly indifferent about life insurance and its benefits:

Ask about Life Insurance Rates in Toronto—Even When You’re Single

If you’re currently living the “single” life, then you’re very much aware of all its advantages. You get to watch TV whenever you want and as much as you want. You get the whole bed to yourself. You can move to a new apartment, a new city, a new country—at a moment’s notice. You can live the life you want without compromise or worry, except perhaps, when it comes to your finances. Kimberly Palmer reports, for US News and World Report:

According to a 2011 survey from USAA Life Insurance, the number of single people buying life insurance increased 10 percent compared to a year earlier. The biggest growth was among 20-somethings, which experienced a 24 percent increase in life insurance purchases.

The increase appears to be driven in part by the economy. During economic downturns, people across the board tend to buy less insurance, simply because they can’t afford it. So part of the increase in life insurance purchases, which is happening across multiple demographic groups, can be attributed to the economic recovery following the most recent recession.” More