All about Canadian insurance. Learn the ins and outs and get the latest news.
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Canada’s best credit cards 2023 Jan 7th
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Best credit cards in Canada for 2023
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Consumer-first finance: How USDC Rewards are changing the game Nov 20th
While traditional savings accounts offer minimal returns, cryptocurrency platforms are presenting Canadians with new options for their cash. Coinbase’s latest offering—3.85% rewards* on USDC balances—highlights a growing shift in how people think about storing and growing their money.
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The Power of Positivity: a Q&A With Onlia’s Fernand Vartanian Oct 27th
What’s new in the world of insurance?
Over the last few years, drivers in Ontario have been eligible for discounts or incentives based on safe driving behaviour. Recent regulatory changes mean that now some providers of pay-as-you-drive policies could increase a customer’s premium if the trac.... More »
Critical illness and disability insurance in Canada Sep 29th
When I bought my home and car, I also bought home and car insurance—it wasn’t even a question. (Plus, car insurance is mandatory in Canada.) If you own a home or a car, you probably also have insurance to protect your valuable asset. You might also be one of the 22 million Canadians who have lif.... More »
Does driving school lower insurance for Canadian drivers? Nov 16th
When you’re a new driver, insurance companies view you as being at higher risk of accidents than someone who’s been on the road for several decades. The risk of collision is highest within the first year a driver is on the road, and it decreases as drivers gain more experience. As a result, new .... More »
How does life insurance work?
– moneysense.ca
Life insurance, simply put, is an enormous help to your loved ones when you pass on. It can serve to cover funeral and burial costs and pay off any debts you might have, as well as provide for your family so they can maintain the same standard of living once your income is gone. (No one want.)
If sorting out a life insurance policy is something you haven’t yet ticked off your to-do list, we understand why you might procrastinate: It can be a bit of downer to think about, and the choices can be overwhelming when you don’t know quite how life insurance works or what level of coverage you need.
But if you have any dependents—spouse, children or anyone else you help support—it’s one of the smartest things you can do to ensure they’re cared for after you’re gone. So, how does life insurance work? Read on for everything you need to know to get started. (Learn how you can use life insurance to leave your family an inheritance.)
Compare personalized quotes from some of Canada’s top life insurance providers*
What does life insurance cover?
Life insurance pays out upon the policy holder’s death, but there are some exceptions, such as death by suicide and risky behaviours such as sky diving…
If sorting out a life insurance policy is something you haven’t yet ticked off your to-do list, we understand why you might procrastinate: It can be a bit of downer to think about, and the choices can be overwhelming when you don’t know quite how life insurance works or what level of coverage you need.
But if you have any dependents—spouse, children or anyone else you help support—it’s one of the smartest things you can do to ensure they’re cared for after you’re gone. So, how does life insurance work? Read on for everything you need to know to get started. (Learn how you can use life insurance to leave your family an inheritance.)
Compare personalized quotes from some of Canada’s top life insurance providers*
What does life insurance cover?
Life insurance pays out upon the policy holder’s death, but there are some exceptions, such as death by suicide and risky behaviours such as sky diving…
COVID-19, Loss of Employee Benefits & Conversion Health Insurance Plans
– life-insurance-quotes.ca
Unfortunately many Canadians have now found themselves without employee benefits due to job loss as a result of the COVID-19 pandemic.
Not having health insurance coverage can be a source of worry for many of these unemployed Canadians.
The good news is that there are specialized health and dental plans that are specifically designed for people who have just lost their group benefits coverage. These plans are called “conversion health insurance”, and they offer coverage typically found in other health plans (for example, dental, prescription drug and vision care coverage).
Conversion Plans and Eligibility
Conversion health and dental insurance plans are guaranteed issue and do not require answering any medical questions.
To qualify for most conversion plans, however, you must have lost your group benefits coverage within 60 to 90 days of applying for a conversion plan.
If it has been more than 60 to 90 days since you lost your group insurance coverage you can still get personal health insurance (either an underwritten plan or a standard guaranteed issue plan)…
