Should I buy Whole Life Insurance for my Children?

By FT / November 7, 2016 /

A reader, Arlene, recently asked a question in my article “investing on behalf of kids” about obtaining “Whole Life Insurance” for their young children.  A financial planner suggested that obtaining permanent insurance for their children is a good idea to invest in their future. Here is the question: Hello! A financial planner thinks it’s a good idea…

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Understanding Universal Life Insurance

By Chantal Marr / July 27, 2015 /

As a society, financial independence is what we’re all striving for, particularly in this unstable economy. The best way to achieve it is to take things into your own hands; and make thoughtful investment decisions. Insurance can be an investment vehicle where you can have the best of both worlds.  It’s a way to build…

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6 Important Tips When Buying Disability Insurance

By Guest Blogger / May 18, 2015 /

We buy insurance to protect a lot of things: life, liability, health, vehicle, and home are only a few. But, what will you do if you get sick, or can’t work for an extended period? Disability insurance will replace your lost income from injury or an illness that lasts longer than 90-days, so it should…

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How to Score Well on Your Life Insurance Medical Test

By Guest Blogger / March 16, 2015 /

Applicants looking to purchase a life insurance policy usually have to go through a life insurance medical test. This test consists of two components: a physical evaluation and a questionnaire session. Passing this test allows applicants to be approved for a life insurance policy. Many insurance companies also offer other benefits to applicants who score…

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The Differences between Permanent and Term Insurance

By Guest Blogger / February 25, 2013 /

This is a guest post by CFP,  Brian Poncelet. Life insurance is a critical component to every family’s financial well-being. And yet, over 10 million Canadians are underinsured, leaving their loved ones vulnerable to out of control expenses and runaway debt. To protect your dependents, you need to first know that there are two types…

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The Pros and Cons of Insuring your Children

By Guest Blogger / November 5, 2012 /

This is a guest post by Promod Sharma, an Actuary based out of Toronto, ON. You (probably) love your children and want the best for them. Does being a good parent mean insuring them too? We’ll look primarily at life insurance and critical illness insurance from the perspective of an actuary. There’s also a nifty…

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Income Splitting and Permanent Life Insurance

By Guest Blogger / March 4, 2011 /

This is a guest post by Roland Chan, an insurance professional. By now, most MDJ readers will know that income splitting is an effective way to reduce your income tax bill by diverting income from a high tax-bracket to a low tax-bracket family member. By treating tax reduction as a “family affair” you may be…

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Is your Life Insurance Policy about to Implode?

By Guest Blogger / September 8, 2010 /

This is a guest column by insurance specialist Glenn Cooke. Your life insurance policy may be about to implode. You may be on the verge of having to pay exhorbitant premiums just to keep your existing life insurance policy in force – and with those premiums continuing to increase year over year. Life insurance companies…

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