Category Archives: Term Life Insurance

Breast Cancer Awareness Month: Getting Insured as a Survivor

October is breast cancer awareness month and it’s a time to reflect on and spread more awareness both for the illness and the women whose lives have been affected by it. As the most common cancer among Canadian women, breast cancer awareness month is the perfect opportunity to get tested if your family has a history of the illness or if you feel concerned.

Even women who have survived their battle with breast cancer tend to worry about different aspects of their life afterward. One of these worries is often the fear of being rejected for life insurance coverage. Today we’re are shedding some light on this fear to let women know that you can be covered as a breast cancer survivor. Continue reading

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4 Misconceptions About the Life Insurance Application Process

It’s no surprise that people often have ranging misunderstandings with regards to life insurance policies, but is this also the case when it comes to actually applying for coverage? Unfortunately, there are many false beliefs held by individuals that can greatly hinder their chances at getting the proper life insurance plan they deserve.

Today, we’re taking an in-depth look at some of the most common thoughts people have when it comes to actually applying for and buying a life insurance plan. These misconceptions typically lead people to believe that they are getting the most out of a policy, but in reality, they are actually putting themselves at a severe disadvantage. Don’t limit yourself when it comes to life insurance, here is the truth behind many misinformed insurance application views so you know what to look for. Continue reading

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The Importance of Life Insurance for the Self-Employed

Many people prefer to be self-employed because of the level of flexibility and freedom that comes with being your own boss. But building your own business isn’t easy, which leaves many to overlook certain necessities in order to save on costs. Unfortunately, life insurance is often one important factor that is often cut off.

Everyone needs to be insured, especially if you’re self-employed. For those who have a salaried position at an established business, getting insured is generally easier as employers tend to have company-wide plans for their workers. But that luxury is not guaranteed for those who run their own business.

If you have your own start-up and are self-employed, here are a few reasons to not skip out on getting the proper coverage you truly need. Continue reading

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Avoiding the Gamble of Living Without Life Insurance

Some Canadians, unfortunately, don’t see that value in a life insurance policy and choose not to obtain one. The uncomfortable feelings that come with discussing your death and what will happen after is one of the main reasons, among many others, that people choose to live without coverage. The cost of a plan is another issue that people point to when talking about life insurance, some people don’t feel like it’s an appropriate way to spend their money.

But is living without the safety net of life insurance making your life better? Your life is filled with risky gambles each and every time you step out the front door, why risk everything and go unprotected?

This week, we’re discussing the perils that come with living life uninsured and how it’s the biggest gamble anyone can take. In the end, life without proper coverage will only end up hurting the ones you love. Continue reading

Pregnancy and Life Insurance: What to Expect While Expecting

The fact is, most people decide to wait until they have a family to choose to purchase a life insurance plan. This then makes the instance of applying for coverage during pregnancy more common. It’s understandable that you are going to want to protect your family’s new addition, but applying for coverage while pregnant can be a bit intimidating.

Getting properly insured is easily one of the best ways to guarantee your family’s financial future is secure. As a pregnant mother, you will already be undergoing enough, adding the worry about insuring your family shouldn’t be something you concern yourself with. This week, we’re taking a look at what future mothers can expect to face when applying for coverage. Continue reading

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Obtaining a Life Insurance Plan After a Heart Attack

Unsurprisingly, as it is with many serious medical illnesses, heart attacks can have an adverse effect on life insurance applications. Many people talk about heart disease and think that getting insured after a diagnosis is impossible. This is not the case; it can be difficult but certainly not impossible.

Since the earlier half of the 20th-century heart health and medical procedures have made a huge leap forward. The Heart and Stroke Foundation stated that today 95% of Canadians who make it to a hospital after an attack survive, a jump of 30% from 65 years ago. Although a heart attack is still a very serious health crisis, with the right medical advice and procedures you can still live a healthy life.

This week, we at LIFC are looking at what you can do to improve your chances at getting insured after experiencing a heart attack. By knowing what to expect from your insurance provider and how to improve your health you will find a plan that works best for you. Continue reading

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What to do if You Can’t Pay Your Premiums

Life is full of uncertainties and you can run into financial complications that can make paying your premiums difficult. Your future budget may not be able to support the premium payments you once felt comfortable with when you first purchased your plan.

Situations like the loss of a job or living on a fixed income make managing your premium payments incredibly taxing. The pressures associated with struggling to make your plan’s payments lead many to simply give up and surrender the policy. But don’t jump to that conclusion immediately, there are alternatives you need to look into first. Continue reading

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Important Financial Steps for Newlyweds

Creating a lasting marriage in today’s society requires both partners to practice better money management skills and to become more involved with finances. When you tie the knot with your significant other, simply talking about finances and insurance is a good first step, but it shouldn’t be the only one.

As a newly married couple, you will both want to avoid any tension or strain put on the relationship by improper financial management. Don’t allow one person to take all the responsibility or have his or her individual strategies be the basis of governing your assets. So, how can you prevent this dreaded strain? Let us show you.

This week, we’ve compiled some a guideline to the most important considerations a young couple should focus on. This will provide a foundation for newlyweds to start off on the right foot towards a brighter financial future. Continue reading

Insurance Application Lies That Harm Your Coverage the Most

When applying for life insurance, there can be a temptation to lie on the application form you fill out. But why do we have that temptation? What good can come from it? People typically lie on their applications because they feel it will possibly get them a better rate or it will just help their chances of getting approved. Either way, the lie is a huge risk you take that could leave you and your family without coverage. Is that worth trying to save on premiums?

Today’s insurers are using more sophisticated technology and have access to more databases to check all the information they require to verify a claim. An intentional lie, once discovered, severely affects the legitimacy of the rest of your application and make the process take longer. Continue reading

Detrimental Life Insurance Mistakes You Can Easily Make

The importance of life insurance is obvious to most people, but others still take it for granted and don’t see the immediate value in a good plan. This example, along with many others, illustrates one of the various mistakes anyone can make when purchasing life insurance.

A life insurance plan isn`t something that many people pay close attention to after they have it. After all, you`re alive and well, what`s the point of worrying if the plan only helps when you die? But that’s the reason why purchasing a plan shouldn’t be taken lightly.

When something happens to you and your plan is left to help your family cope, you’re going to want it to be more than sufficient. In order to better equip you, we’ve outlined some incredibly easy mistakes you can make both as you purchase a plan and while you already possess one. Continue reading