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How to choose the right insurance
– moneysense.ca
Q: My husband is 57 and I am 45. I am currently a stay at home mom to a 12-year old with autism. We have life and disability insurance on our mortgage. My husband no longer qualifies for critical illness through our bank as he is 57.
He also has short term and long-term benefits through his employer.
Should we switch to term insurance through a private insurance company for our insurance instead of paying $292 biweekly for mortgage life and disability? Can we even get disability insurance through a private insurance company? Also, should I keep this insurance since I am not employed?
—Tara
A: Insurance can be a bit of a pain. It can be expensive and often, it’s simply a sunk cost.
But when you need it, insurance is really important. And when it comes to managing financial risk, it is essential for most young families.
Your husband, Tara, likely has a real need for life and disability insurance. If you and your son would be in financial difficulty if he died, he needs life insurance…
Great West Lifeco reports lower Q3 profit due to hurricane related losses
– canadianbusiness.com
WINNIPEG _ Great-West Lifeco Inc. reported a drop in its third-quarter profit compared with a year ago as it was hit by costs related to hurricanes Harvey, Irma and Maria.
The insurance company says it earned $581 million or 59 cents per share for the quarter ended Sept. 30 compared with a profit of $674 million or 68 cents per share a year ago.
Great-West (TSX:GWO), through its subsidiary London Reinsurance Group Inc., offers property catastrophe coverage to reinsurance companies.
It says the most recent quarter’s results included losses related to estimated claims resulting from the hurricanes totalling $175 million after taxes.
However, it noted that the loss estimate may change as additional information becomes available.
Excluding the hit, the company says it earned $756 million for the quarter, up $82 million from a year ago, primarily due to higher fee income and lower expenses.
The post Great West Lifeco reports lower Q3 profit due to hurricane related losses appeared first on Canadian Business – Your Source For Business News.
The insurance company says it earned $581 million or 59 cents per share for the quarter ended Sept. 30 compared with a profit of $674 million or 68 cents per share a year ago.
Great-West (TSX:GWO), through its subsidiary London Reinsurance Group Inc., offers property catastrophe coverage to reinsurance companies.
It says the most recent quarter’s results included losses related to estimated claims resulting from the hurricanes totalling $175 million after taxes.
However, it noted that the loss estimate may change as additional information becomes available.
Excluding the hit, the company says it earned $756 million for the quarter, up $82 million from a year ago, primarily due to higher fee income and lower expenses.
The post Great West Lifeco reports lower Q3 profit due to hurricane related losses appeared first on Canadian Business – Your Source For Business News.
