Introduction to Term Life Insurance in Canada

First of all, it is very important for you to understand what the term life insurance means. It is basically the insurance that pays death benefit to the beneficiaries only if the insurer has died within the decided time of the insurance. If the insurer dies after the time limit, the insurance company is not going to pay anything to the beneficiaries. The time limit can vary from 5-20 years, depending upon the policy plan.

If you are trying to find the best term life insurance in Canada, you should look for your options online. You can find plenty of websites offering information and help regarding this information. When it comes to Canada, it has more than thirty five companies offering different policies.

You can also contact brokers in Canada if you want to learn more about the different policies. It is possible to find cheap term life insurance in Canada, which is indeed a great option for young people. Canada Trust is a company that offers insurance at reasonable prices. The best thing about Canada Trust is that they take care of everything and you do not have to go through any hassle. You can fill a form online and their agents will contact you for different requirements.

Canada Life is another company offering different life covers, which also include term life insurance in Canada. They offer affordable life coverage. Also, the premium guaranteed remains the same for the upcoming ten to twenty years. Your needs does matter a lot. Another good thing about Canada Life is that you do not have to show any medical evidences at the time of renewal. You can also convert your plan into a permanent life insurance plan.

HSBC is a huge name in the banking sector. It also provides term life insurance in Canada. The duration of HSBC insurance is from 10-20 years. The coverage ranges from $25,000 to $250,000. HSBC offers the simplest plan and getting the insurance is not difficult at all. You do not have to go through millions of tests. All you need to do is to answer 7 simple health questions. You can also get quick online quotes and instant coverage. This insurance comes with 30-days money back guarantee. These terms and conditions are only available in Canada.

You can buy the policies of many different companies in order to get term life insurance in Canada. In many provinces of Canada, these companies offer insurance policies covering 5, 10, 20, and 30 year periods. You can renew these policies at higher premiums to age 70 or 95. The good thing about their insurance plan is that you can get it at affordable prices initially. It has adjustable premium rates and renewal ability. Last but not least, you can convert the term insurance to a permanent life insurance.

You can easily find the best financial institute or bank in this regard. All you need to do is look for your options and then select the one which is best suitable for you.

Snowbird Travel Insurance: Covering the Travel Needs of Canadian Travelers

Canada is one of the world’s countries that have made major steps in insurance with provision of insurance services covering various aspects of the human life and his/her belongings. All ages have been covered in their insurance plans. People all over the world are travelling either on official duties or on vacations. If you thought only the working class has been protected during their trips, then you are quite wrong. The old as well as retirees have a reason to smile and enjoy travelling following the introduction of an insurance policy known as snowbird travel insurance. A large percentage of Canadians known by the name “Snowbirds” are making trips from the country more so during the winter season in Canada. More often than not, the trips range between three and six months involving retirees who desire warm weather.

The policy “Snowbird travel insurance” was derived from the name used in reference to this group of Canadians-the Snowbirds. The insurance covers retiree, senior as well as group medical policies. This a product of the partnership between Insurance Direct Canada-I.D.C and Group Medical Services-GMS which are offering an exceptional travel insurance policy specifically to serve the travelling needs of Snowbirds. The Snowbird travel insurance has won praise among Snowbirds who have been ignored for a long time as far as insurance plans are concerned. Canadian retirees have for a long time gone through tribulations and unnecessary anxieties because no insurance policy was catering for their travel needs. As a Snowbird, you now have the opportunity to enjoy the fruits of your labor by travelling to your dream destination without being anxious.

However, GMS isn’t the sole company offering Snowbird travel insurance to insurance buyers wishing to undertake this kind of cover. IDC only acts as a broker representing other insurance firms. Snowbird travel insurance is offered at affordable rates and hence people in different economic levels qualify to undertake the policy.

Regardless of whether Canadian Snowbirds are travelling within or out of the country, they are provided with emergency medical cover. There are also travel insurance policies for Canadian visitors.

No one wishes to go through tribulations while travelling and always hopes to have an exclusive travel experience, but things do not happen as per our expectations. Many times people have travelled across borders without necessarily having travel insurance. However, this was as result of luck and not custom or principle. Snowbirds are subject to regular illness which might strike unannounced and hence need to undertake Snowbird travel insurance cover. When such emergencies occur in the absence of this kind of cover, it is hard for Snowbirds to solve such problems keeping in mind that most of them lack a steady income. This is very beneficial at such times. This policy covers all medical bills saving Snowbirds the agony of indebtedness.

Snowbirds not covered under this policy have ended up spending dearly from their own pockets; expenses they could have avoided had they taken cover earlier. Nevertheless, it is never late and one can always make a step and purchase the policy.

Life Insurance For Children – A Terrible Idea?

Life Insurance for children looks like a terrible idea. Life Insurance for a child? Children do not earn an income and isn’t insurance meant to cover a financial loss?

Insurance is meant to cover a financial loss. So it is critically important that parents buy a life policy on themselves to protect their family. After the parents buy a policy on themselves I think there is reason to consider a Child Life policy.

So why would anyone buy life insurance for children? There are a few good reasons. And I will start with the financial reasons.

I would argue that the death of a child could cause financially difficulty. Can you imagine your child dying? It is a terrible thought and it brings tears to my eyes. The death of a child could be paralyzing and you would need time off. Most employers would certainly give a week or two of paid leave. But how long can that generosity last? What if you are not ready to go back to work for months – or years? Would your employer be that generous? For this reason alone I think a small policy on a child is not a bad idea to consider. The money would allow you to take time off work and heal.

A second financial reason is your other children (assuming you have others … if not skip ahead to the next paragraph). Would they need you more if they lost a sibling? Probably. Yet another reason you would take time off work. Beyond that, what if your children need counseling? That’s not free.

The most obvious financial reason to buy insurance on your kids is the cost of a funeral. The last thing you want to worry about is bills for a funeral if a child dies.

You might be thinking that none of the above applies to you. That’s fine. Before you go I would ask you to consider another reason When your child grows into adulthood and is looking for insurance coverage there is a chance that it will not be available due to their, health, lifestyle, or occupation. A good children’s life insurance policy will have a guaranteed insurability built in that allows them to buy more coverage without any questions about health, lifestyle or occupation.

If you are considering buying a policy for your child – please remember to review your own coverage first. There are plenty of good policies available in Canada for children. Make sure you look for the guaranteed insurability I mentioned above.

Travel Insurance Canada – Canadians Traveling Within Their Own Country

With the economy in the rough shape it is in nowadays, it can be relatively expensive for Canadians to take a trip to their favorite state in the U.S and even more costly to fly oversees for a getaway in Europe, Asia or to other overseas destinations. Canadian citizens should think about planning a trip to another province or territory because Canada has so much to offer in terms of great vacation areas.

Why Travel Within Canada?

The Canadian government encourages tourism, whether it be for fellow Canadians, Americans, Europeans, etc. There are many appealing areas to visit in Canada that can realize your needs for an exciting relaxing or culturally interesting vacation. Every province in Canada has something to offer and it is recommended that every Canadian try and visit as many as possible, even if it takes multiple trips! Whether you want to go whale watching in British Columbia, see the awe-inspiring Rocky Mountains in Alberta, lie on the beautiful sandy beaches in New Brunswick, take in the stunning shoreline scenery of Nova Scotia, hike on many of the fantastic trails in Ontario, or see the gorgeous icebergs in Newfoundland, there is always something enjoyable to do in every province and territory.

When is the Best Time to Travel

Obviously, anyone can travel to other areas in Canada at any time of the year. However, the weather will determine whether or not you will be able to partake in certain activities. Traveling in the summer is usually the more common time to travel if you are looking to hike, sightsee, and do many other outdoor activities. Canadian winters in most places are usually cold and come with plenty of snow. When winter arrives, cities such as Toronto, Quebec City, Montreal and Winnipeg host big winter carnivals and are the popular areas to go if you are planning on skiing, snowboarding, snowshoeing or doing other winter activities. In the end, the best time to travel depends on what activities you enjoy the most.

How Should I Travel

If traveling by air, many airlines such as Air Canada, Quantas, and Northwest offer significant discounts and deals if you book your flight well in advance. Talking to a travel agent is recommended, as he or she should be able to give you advice and answer all the questions you may have regarding your trip. You can also talk to friends and family who have traveled throughout Canada to see how they traveled, what they enjoyed the most and how much it cost them. If you are not traveling by air, you have many other options. Traveling by train, bus, or car are the other most common ways to travel. Via Rail and Greyhound are the most popular ways to travel by train and bus as they may offer various package deals and discounts. For more information, you can check the website of the company or talk to a travel agent. Keep in mind that traveling by bus or car is a good way to see all of the many sights that Canada has to offer. Other popular trips include travelling by bike, motorbike or motor home, which allow even more time to visit the small towns and campgrounds along the way.

Canadian Travel Insurance and Other NecessitiesBefore taking a trip to another province or territory, you should take care of a few things. Canadian travel insurance is important to have if you are leaving your home province. Travel insurance in Canada is crucial because if you become ill or have an accident outside of your home province, your provincial health plan may not cover all of the medical bills. Additional travel insurance can cover unexpected expenses such as if you require immediate medical attention, if your possessions get stolen or damaged, if you experience a flight or travel accident, etc. Without Canadian travel insurance, you may be required to pay unforeseen medical expenses and you would not have coverage for lost, stolen or damaged luggage, flight delays or cancellations. Anyone planning a trip outside of his or her home province or territory should obtain travel insurance so that they are covered anywhere and everywhere they travel.

You are also advised to have your passport and birth certificate with you in your travels. If you have a family, make sure they have all of the proper identification and information as well. Other than that, doing the proper research and properly planning out your trip well in advance will go a long way to ensuring a successful journey.

Canadians should visit as much of Canada as possible in their lifetime. There are so many incredible things to do and unbelievable sights to see that it is almost impossible to see them all! After traveling all or most of Canada, not only will you learn a lot about your home country, you will also be able to tell people how great it is and recommend the best places for them to visit.

Sun Life Insurance in Canada

Sun Life Financial (SLF) of Canada believes that “life’s brighter under the sun”. The company is an international financial services provider and offers a diverse range of both wealth protection and wealth accumulation products and services to individuals and corporate clients alike. Sun Life Financial has a long history, having been chartered in 1865. Today the company, along with its partners, has significant global operations which are established in: Canada, the United States, the United Kingdom, Ireland, Bermuda, China, Hong Kong, Indonesia, the Philippines, and Japan. As of September 30th, 2008, the Sun Life Financial group was managing CDN$389 billion worth of assets for clients worldwide.

Sun Life Financial is still a Canadian company first and foremost, and they are ranked highly by all industry standards: revenue, earnings, assets under management, and life insurance in force. The company has a business relationship with 20% of all Canadians, to whom they offer a wide array of financial products and services for individuals, businesses, and public and charitable firms which include: life and health insurance products, retirement savings products, trust services and investment funds, mortgages, and beyond.

Sun Life Financial;s company’s products and services are widely used for diverse needs including individual life and health insurance and wealth management, Group Retirement Services, and Group Benefits. SLF educates their clients about:

* Needing a holistic financial plan guided by a trained, knowledgeable professional
* Needing to factor in health care costs when calculating retirement planning
* The need to take advantage of “free money” at work (SLF finds this to be a particularly Canadian problem)
* Using the Canadian provision of the Tax-Free Savings Account for help with retirement planning
* Knowledge of the options available for retirement income strategies such as the guaranteed income for life choice
* How to use segregated funds in a total (holistic) financial plan