Blog Archives

If Life Insurance Plans Were Cars: How to Look at Various Types of Life Insurance in Canada

Overall, insurance is considered a somewhat boring, though necessary, topic. On top of that, it is not always clear – there are plenty of various types of life insurance products in Canada that work differently. I decided to explain it in a bit of a different and funny way – I hope that you will like it.

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Posted in Life Insurance


Insurance Companies in Canada – Easily Explained

The life insurance landscape in Canada is quite unique. The infographic below shows all the key players and their size, reflecting their assets under management (AUM) based on life and wealth segments of the company’s business.

(scroll further down to continue reading)

In Canada,

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Posted in Life Insurance


What is Travel Insurance, and Why Do I Need it?

By RateHub.ca

When it comes to budgeting for your vacations, travel insurance is one of those things that’s often overlooked. It’s easy to understand why: we have publicly funded healthcare in Canada, so many people assume that benefit applies to wherever we travel in the world.

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Posted in Life Insurance, Travel Insurance


12 Critical Illness Insurance Myths You Must Know Before Purchasing a Policy

Critical illness insurance is one of those insurance types that often gets neglected.

Here are a few statistics based on Manulife’s disability and critical illness calculator (a link is provided at the end of this article). If you are 30 and 40 years old respectively, here are your chances to get a critical illness policy before the age of 65:

30 years’ old

40 years’ old

Female

Male

Female

Male

19%

27%

18%

26%

~1 out of 5 women

~1 out of 4 men

~1 out of 5 women

~1 out of 4 men

Critical illness insurance provides funds as a lump sum when you are diagnosed with an illness that is named in the policy.

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Posted in Critical Illness Insurance, Life Insurance
Tags: , , ,

111 Insurance Myths – Everything You Must Know

Hundreds of websites on the Internet perpetuate insurance myths. In this article, we have summarized all the insurance myths we are aware of and catalogued them by type, starting with home insurance, followed by auto insurance, life Insurance etc. If interested, you can unlock another 20 additional insurance myths at the end of our article.

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Posted in Auto Insurance, Critical Illness Insurance, Disability Insurance, Home Insurance, Life Insurance


Funeral Insurance in Nova Scotia: What You Must Know about its Recent Changes

Nova Scotia has just passed a new amendment to change two acts that affect the funeral service industry. We decided to zoom in on this topic to provide more clarity and to also get a consumer-focused perspective.

What are the Recent Changes Related to Funeral Insurance in Nova Scotia?

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Posted in Life Insurance


Life Insurance for HIV Persons – Rates and Must-Know Tips

Life Insurance for HIV Persons in the Past

Life Insurance for HIV PersonsHistorically, HIV patients had a lot of difficulties in getting life insurance. In fact, the only type of insurance that was available for them was guaranteed issue life insurance, which costs the most and covers the least. The maximum amount people with HIV could get in those cases was $25,000.

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Posted in Life Insurance


Life Insurance and Zika Virus – What You Must Know

Table of Contents (click on a section to jump)

  1. General Info about the Zika Virus
  2. Zika and Insurance Risks
  3. Zika Virus and the Ability to Get Life Insurance
  4. What Life Insurance plans and rates do Insurers Offer for Zika Cases?

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Posted in Life Insurance


32 Items Hijacking Your Life Insurance Rates – Infographic

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Posted in Life Insurance


Multiple Sclerosis Life Insurance – How Much Does It Cost?

Mutliple Sclerosis and Life InsuranceAs if you don’t have enough to worry about if you are diagnosed with multiple sclerosis (MS), but hearing that diagnosis means you also have to worry about your insurance rates. Can you even get insurance if you have MS? Are your rates going to skyrocket? How can you protect your family financially if things progress to the point where you can no longer work?

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Posted in Life Insurance


How to Pay Off Mortgage Faster – 10 Crucial Tips for You

How to Pay Off Mortgage Faster

Canada’s household debt is at a record high: it’s expected to rise to 174% this year (it was at 171% at the end of 2015). This means that for every $100 of disposable income, households have debt payment requirements of $171. A recent report from the Parliamentary Budget Officer said that of any other G7 country (leading industrialized countries),

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Posted in Home Insurance, Life Insurance


Life Insurance Rates Scout Is Live – Find Out if You Pay Too Much

Unlike auto and home insurance, life insurance is an insurance product that is much more difficult for people to understand. As a result, it is often unclear how much your term life insurance rates will be, how long you are covered under a policy, and the amount of insurance coverage you need.

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Posted in Critical Illness Insurance, Disability Insurance, Life Insurance


Funeral Insurance for Seniors: 4 Things You Need to Know

As we age, we become more practical about end-of-life realities. We also realize that death comes with costs. Many seniors do not wish to burden their friends and family with the additional stress of paying for a funeral on top of dealing with grief, so they turn to funeral insurance for seniors.

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Posted in Life Insurance


Why Share Consumer Life Insurance Reviews? Participate and Win Great Prizes!

Why insurance reviews?

The Internet was a game changer. One way the Internet has shaped our lives is through online product reviews. In the past, only your family and neighbours heard your tirade, or joy, over a deal gone bad or a product you loved. Today,

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Posted in Life Insurance


Life Insurance After Heart Attack – How Much Does It Cost?

life-insurance-heart-attack-ratesA heart attack is a terrible experience for the person who has one and for that person’s loved ones. There are many reasons why you could suffer a heart attack, from inherited heart disease, stress or an unhealthy lifestyle. If this isn’t bad enough, after you have a heart attack,

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Posted in Critical Illness Insurance, Disability Insurance, Health Insurance, Life Insurance


Life Insurance for People with Diabetes – How Much Will It Cost You?

life insurance for people with diabetes

 

A diabetes diagnosis can be frightening. Some common thoughts are: Will I have to inject insulin? Do I have to give up all sugars?  How will the disease affect my quality of life? While your doctor will help you navigate through steps you must take to live a rich,

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Posted in Health Insurance, Life Insurance


Cystic Fibrosis Life Insurance in Canada – What You Need to Know

lungsWhat is Cystic Fibrosis?

Cystic fibrosis is a critical illness that typically affects children and young people and has a life expectancy (on average) of about 37 years. It is considered a critical illness and it impacts various parts of the body, predominantly the lungs and digestive system. 

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Posted in Critical Illness Insurance, Health Insurance, Life Insurance


Funeral Insurance in Canada – What You Should Know

Funeral InsuranceCosts for funeral insurance in Canada can vary widely based on your preferences and state of health. Since there are various burial options, it’s hard to provide a standardized estimate for a funeral. According to Ontario’s Board of Funeral Services, however, they set that average at around $7,400, which is a figure that should be taken with a grain of salt.

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Posted in Life Insurance


Life Insurance for Parkinson’s Patients – What Can You Do

Life insurance.  It’slife insurance for parkinsons patients something a lot of people put off.  You’re healthy, active, and young—why bother with the extra expense right now?  Things can change pretty quickly when something goes wrong, though—when an accident occurs, or when someone is diagnosed with an illness like Parkinson’s disease.  Life insurance suddenly becomes a lot more dire. 

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Posted in Critical Illness Insurance, Disability Insurance, Life Insurance


Life Insurance with a Pre-Existing Condition – Explained in Detail

Getting a life insurance policy can be complicated, but the situation becomes even more difficult if you have a serious precondition. Since we often receive questions related to types of life insurance people can get when they have particular preconditions, we decided to create a user-friendly reference sheet for you.  

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Posted in Critical Illness Insurance, Disability Insurance, Life Insurance


Life Insurance Policies: 15 Fine Print Traps to Know

life-insurance-policies-trapGetting life insurance might seem like a boring task, but at the same time it is quite important to pay attention to the fine print on your policy. Today we will guide you through 15 life insurance policy traps based on InsurEye consumer reviews and discussions with insurance expert Lorne Marr.

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Posted in Critical Illness Insurance, Disability Insurance, Health Insurance, Life Insurance


Buying Life Insurance: 6 Different Ways with Pros and Cons

There are several ways to buy life insurance and some are better than others. We put together a handy overview of purchase options, along with their major differences, pros and cons.

1. Captive Agents

Buying Life Insurance - Insurance AgentBuying life insurance through an insurance agent is the familiar way to buy life insurance.

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Posted in Critical Illness Insurance, Disability Insurance, Health Insurance, Life Insurance


Marriage and Life Insurance: 13 Things You Need to Know after You Say “I Do”

Marriage and Life InsuranceThere are many articles about life insurance in general, but very few insights about what exactly you need to consider during the most important moments of your life. Today we show you what happens to your life and health insurance after you say “I do”.

When it comes to insurance,

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Posted in Life Insurance


Life Insurance in Canada: Infographic

Life Insurance in Canada - Insurance Companies Landscape

How well do you know Life Insurance Landscape in Canada? This infographic shows key players in Canadian Life Insurance space. We divided all Life Insurers into several categories:

  • Big Three Life Insurers: Manulife, Great-West Life, and Sun Life
  • Insurers associated with Five Big Banks: RBC Insurance,

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Posted in Critical Illness Insurance, Health Insurance, Life Insurance


Mortgage Insurance: 15 Reasons Why It is a Waste of Money

Mortgage Insurance is a Waste of MoneyBuying a home is exciting but it also comes with a lot of daunting trips to the bank, mountains of paperwork, and talking to realtors and lawyers before you sign the documents for your new home. Just before that purchase is complete, you are likely to hear these encouraging words from your lender:

“If you want,

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Posted in Critical Illness Insurance, Disability Insurance, Home Insurance, Life Insurance


Life Insurance for Seniors: 10 Things Others Usually Don’t Tell You

As you age, you start to think more about your legacy and protecting your family’s financial security. You want to leave things in order for the ones you love after you’re gone, but you’re concerned you won’t be accepted for full life insurance because of your age. We’ve asked Chantal Marr of LSM Insurance to share with us her knowledge about this topic.

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Posted in Life Insurance


Top 20 Reasons to Decline Life Insurance Application and What You Can Do

Being declined for a life insurance policy can leave you feeling anxious about the insecurity over your loved ones in the case of your death. That’s why it’s important to know the top reasons why life insurance applications are declined, and what you can do to help your chances of getting accepted.

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Posted in Life Insurance


6 Worst Life Insurance Stories Shared by Canadians in Their Consumer Reviews

Insurance Reviews and StoriesLife insurance is probably one of the most important insurance products that you buy – it protects your family and those who are important to you. Today we want to share six insurance reviews showing what consumers could face when dealing with life insurance companies. All reviews originate from our independent online insurance review platform (all personal data and company names were sanitized but the original review style was preserved).

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Posted in Life Insurance


40 Ways to Save on Life Insurance

Photo Chantal MarrThere are countless articles about Life insurance savings tips but normally they suggest not more than 5-10 ideas. We decided to go further and talked to Chantal Marr, a licensed Life Insurance Broker and recognized industry expert who is a Head of LSM Insurance. Chantal has shared with InsurEye his expert knowledge about savings opportunities in Life Insurance.

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Posted in Disability Insurance, Life Insurance


101 Insurance Tips to Save on Insurance | Cheap Car Insurance

Save on Insurance, IntroThere are many articles titled “10 ways to save on Home insurance” or “5 Tips to lower your auto insurance costs” etc, but would it not be great to have all those saving tricks and discounts at one place? We created such a list and divided it into two parts: The first one reflects general techniques to lower insurer costs and the second provides you with various saving tips depending on the type of insurance (Home,

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Posted in Auto Insurance, Health Insurance, Home Insurance, Life Insurance


8 Aspects Affecting Your Life Insurance Premiums

Levers to Reduce Life Insurance Premiums, Infographic

This infographic was created with the friendly support of Zael Miransky, Insurance Agent and Financial Advisor with Investors Group Financial Services. There are several factors that impact life insurance premiums. The main negative aspects that can significantly increase your life insurance premiums include: smoking, drinking, bad family health history,

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Posted in Life Insurance


8 Ways to Lower Your Life Insurance Cost: Explained by an Insurance Expert

Life Insurance PolicyThere are number of factors that impact your life insurance costs. The average Canadian spends close to $58 per month (approx. $700 annually) on e.g. Term Life insurance, which is a significant cost block.  This article lays out the main approaches that can be taken to lower your life insurance costs.

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Posted in Life Insurance


Life Insurance Premiums in Canada – Explained by Expert

There are countless articles about Life insurance but most are too general and few provide insight into the hard numbers. To address this, we spoke with certified Life Insurance agent, Zael Miransky from Investors Group who shared with InsurEye his insider knowledge on the main factors impacting Life Insurance policy.

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Posted in Life Insurance


Infographic: Find Insurance in Canada Wisely – Use Insurance Reviews

Infographic Insurance Reviews and Consumer

Reading Insurance Consumer Reviews will help you to make well informed decision regarding Auto, Home or Life Insurance.

Consumers Use Online Reviews for Everything but Insurance

Today’s smart consumers use online reviews for almost everything: travel, books, computers, restaurants, household items, and more.

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Posted in Auto Insurance, Home Insurance, Life Insurance


Top Six Issues Canadians Have with Their Auto, Home and Life Insurers

Unhappy Insurance CustomersInsurance is an essential part of life since it protects our main assets: cars, dwellings, life etc. But how do consumers feel about insurance?  What do consumers like and dislike about their insurance providers?  How do insurance companies measure up when it comes to service, value, and claims experience?

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Posted in Auto Insurance, Critical Illness Insurance, Disability Insurance, Health Insurance, Home Insurance, Life Insurance


How Much Do Canadians Really Spend on Insurance

Infographic Insurance Spend in Canada

In a recent insurance spending study based on Canadian consumer experience, InsurEye found that an average Canadian consumer spends $3,100 annually on insurance (it includes three major insurance types such a Home, Auto and Life insurance but does not include other smaller insurance policies such as e.g.

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Posted in Auto Insurance, Home Insurance, Life Insurance


Life Insurance Companies Ratings: Consumer Study

Life Insurance Companies Benchmark CanadaIndependent Canadian company InsurEye conducted a regular consumer satisfaction analysis of life insurance companies (Lifecos) based on independent consumer reviews from InsurEye’s Customer Experience tool. Consumer insurance reviews cover many insurers and their products across the country.

Life insurance companies are rated using two main criteria: Customer Experience and Value for Money.

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Posted in Critical Illness Insurance, Disability Insurance, Health Insurance, Life Insurance


Top 4 Things You Should Know About Life Insurance in Canada

What to Ask before Buying Life Insurance in Canada

Life insurance is an extremely important part of financial planning, but not many people want to talk about it. To make this topic more accessible, InsurEye is laying out the statistical facts and other useful pieces of information to inform Canadians about life insurance.

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Posted in Life Insurance


8 Aspects Canadian Consumers Value in Insurers

Candian Consumers Value in InsuranceWhat aspects do consumers appreciate most of all in insurance companies? Each consumer has unique expectations, but overall there are commonalities. InsurEye has conducted a study analyzing over 600 independent consumer reviews to understand what consumers value the most in their insurance providers. The top feature by far is “Fast claim processing”.

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Posted in Auto Insurance, Critical Illness Insurance, Disability Insurance, Health Insurance, Home Insurance, Life Insurance


Insurance Companies, Reviewed by You – The First Platform in Canada

Insurance ReviewsA new online, independent, consumer-driven insurance review tool is making its debut today, a Canadian first.  The InsurEye Customer Experience is an innovative service that equips Canadians with independent consumer insurance reviews for all main insurance types (Home, Auto, and Life including its derivatives such as Disability Insurance,

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Posted in Auto Insurance, Home Insurance, Life Insurance


Innovative Insurance IT Services: Tapping into Social Circles

Insurance is not considered to be an extremely innovative or exciting industry, and with reason. No one wants to be confronted with unexpected surprises when it comes to our protection. Being conservative in the insurance world is not bad, because less risk is a good thing.

Nevertheless, the world is not standing still.

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Posted in Auto Insurance, Critical Illness Insurance, Disability Insurance, Health Insurance, Home Insurance, Life Insurance


Canadians Spend Average of $3,100 per Year for Insurance

Annual Spend for InsuranceInsurance means a lot of money for consumers, especially if they own several assets (auto insurance, home insurance) and want to protect their loved ones (life insurance). But what exactly does it mean in terms of dollars? Our proprietary research discovered that,

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Posted in Auto Insurance, Home Insurance, Life Insurance


The Truth about Differences in Insurance Rates for Men and Women

 
There are many rumors about the differences in insurance premiums for men and women. We have analyzed insurance premiums of Canadians across the four most populated provinces. The outcome was quite clear across all major insurance types: Home, Auto, Life. On average, women in Canada pay 5% less than men for Auto insurance,

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Posted in Auto Insurance, Home Insurance, Life Insurance


InsurEye Peer Comparison for Canadian Consumers Goes Live

InsurEye Peer Comparison ToolInsurEye Inc. is now live with its new innovative online service for Canadian consumers – Insurance Peer Comparison. This service shows users how their insurance spending compares to their peers. Insurance quotes can vary not just by 20%, but by 200% or more. Knowing what peers pay allows consumers to make informed buying decisions and discover providers with the best prices for their segment.

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Posted in Auto Insurance, Home Insurance, Life Insurance