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Don't wait too long

Don’t Wait Too Long to Convert Your Term Insurance

If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program it may be time to look at a permanent, level cost solution.

Many of us purchase large amounts of low cost term insurance to cover our needs while we are raising our families or growing our businesses.  However, as the saying goes, “there is no free lunch”.  Eventually this low cost term insurance starts to become expensive and other options should be considered.  If you are unable to qualify for a new permanent insurance policy don’t worry, your safety net is the conversion option in your existing policy.


  • A change in your health you are no longer able to qualify for life insurance or you have received a sub-standard rating.  

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Cascading life insurance strategy: A lifetime gift for your grandchildren

If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security you may want to consider an estate planning application known as cascading life insurance.

What are the benefits of the Cascading Life Insurance Strategy?

  • Tax deferred or tax free accumulation of wealth;
  • Generational transfer of wealth with no income tax consequences;
  • Avoids probate fees;
  • Protection against claims of creditors;
  • Provides a significant legacy

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money bag

How stable is Canada’s life insurance industry?

Over the past decade, the number of life insurance companies operating in Canada has decreased dramatically because of mergers and acquisitions.  For example, people who had policies issued by Maritime Life, Commercial Union, North American Life, or Aetna Life now find themselves insured by Manulife Financial.  How concerned should we be about the state of the life insurance industry in Canada as a result?

As it turns out, insurance is one of the most closely-regulated industries in Canada.  Unlike the United States, in Canada there is a government organization that supervises all federally-incorporated and foreign insurers to ensure that these companies operate in a prudent manner.  This organization is the Office of the Superintendent of Financial Institutions (OSFI).  Companies that are provincially chartered are overseen by the province in which they do business.  Don’t worry, though: all of the major life insurance companies are federally regulated by OSFI. Read more



Twelve key documents you need to gather

By Brenda Spiering, Editor,

Can you imagine what would happen if you died and your beneficiaries didn’t know where to find your will? Or your money?

It happens all the time according to Jim Yih, author of the personal finance blog, “When someone dies, there are a whole bunch of questions that need answers but the only person with the answers is not here anymore.” You really love your family and friends, says Yih, so take the time to get your estate organized so you don’t leave them with a big mess to sort through during such an emotional time. Read more »


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