All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
Everything you need to know about your car insurance deductible + MORE Mar 12th
If you just bought a new vehicle or are reviewing your insurance coverage needs, you may have questions about your deductible. Questions like: How does a car insurance deductible work? Do I need one? Will my premiums be affected? And, how much will it cost me? Once you understand the basics, you can.... More »
How condo insurance works Jul 26th
Condo insurance is a smart decision. Regardless of whether you just purchased a brand new loft or a cozy older suite, you’ll need to make sure your asset is protected.
While condominium insurance is not required by law like car insurance, often mortgage lenders or your building will require you .... More »
The best travel insurance credit cards in Canada for 2024 Nov 16th
If you’re one of the nearly 80% of Canadians planning a trip outside your province or territory this year, you’re going to want to use a travel credit card with solid insurance.
Top 3 cards for travel insurance
featured .... More »
TFSA contribution room calculator + MORE Mar 4th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-tr.... More »
How does earthquake insurance work? May 3rd
Earthquake insurance may not be on the minds of many Canadians. And earthquakes may not top the list of likely natural disasters in Canada, but your home could be at risk. According to a study commissioned by the Insurance Bureau of Canada, a major earthquake could devastate communities across the c.... More »
Life Insurance Rates and Health Conditions
– life-insurance-quotes.ca
Most life insurance plans are medically underwritten, which means that the insurance company has an underwriter look at your medical history (as well as conducting an interview with a medical practitioner) to evaluate your overall health condition. This evaluation determines what health class an application falls under, which determines monthly premiums of a plan. In some cases an applicant will be deemed too risky and coverage will be declined (at this point a guaranteed issue life insurance plan is the applicant’s only option).
But what health conditions do life insurance companies specifically look at? More importantly, how do these conditions affect life insurance rates?
Please note that all life insurance applicants are assigned a health classification, ranging from Regular to Preferred Plus. Plans for a Regular health classification have higher premiums compared to those with a Preferred Plus health rating.
The following are multiple health conditions that life insurance companies specifically look at, as well as their effect on life insurance premiums…
