Categories for insurance

What Isn’t Covered by Health Insurance?

August 22, 2017 4:32 pm Published by

In our last post we dug into the meat and potatoes of health insurance for travellers. Needless to say, the key message was this: don’t take unnecessary risks. It’s important to protect yourself, which means it’s important to know exactly what your insurance covers and what isn’t covered by health insurance. Because travel insurance does not cover everything. It has exclusions, conditions, and limitations. Like we talked about last month, most policies do not cover pre-existing conditions. The definition varies from policy to policy. Other common exclusion is accidents or illness caused by abuse of drugs or alcohol. Also not...

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How Can You Control the Costs of Your Group Benefits Policy?

August 23, 2016 10:26 am Published by

A big part of my job is helping team leaders purchase group benefit policies for their employees. To illustrate some of that information, two weeks ago we dug deep into a study called The Prevention Plan, which is an interesting look into why group benefits carry the costs they carry. The study is a big help when I talk to employers and professionals about providing group benefit products. We wanted to understand the impact declining health in the workplace is having on the amount of money we’re contributing to insurance policies in Canada. The money quote? According to The Prevention...

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It’s Time to Share Responsibility for Group Health Benefit Policies

August 11, 2016 10:27 am Published by

What’s the best way to control the cost of group benefit policies? Keep the number of instances requiring medical intervention down. Sounds simple enough, right? Well, part of the problem is delegating responsibility for employee wellness. One of the most common questions I get from corporate employers aiming to provide group benefit policies revolves around the reasons group benefits cost what they do. As part of the process of finding the right fit, I make sure my customers understand how to manage the costs of group benefits now and in the future. There are three levels of responsibility when it comes...

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Why You Need to Take Advantage of Permanent Life Insurance Before 2017

July 12, 2016 10:30 am Published by

Last week we talked about the impact of Bill C-43 on the amount a person can invest in permanent life insurance. The crux of the rule changes is this: the amount of money allowed as deposits into permanent life insurance policies in order to maintain tax exempt status is being adjusted. In most cases you’ll, the rules are more restrictive. After January 1st, 2017, new permanent insurance policies won’t allow you to invest as much as tax exempt income. Therefore, if you want permanent life insurance, now’s the time to invest in permanent life insurance.   Why Do I Need Permanent Insurance?...

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The Cost of Doing Nothing. When Life Insurance becomes the better option!!

May 8, 2014 10:44 am Published by

I’ve been involved in multiple client situations over the past years, each which comes back to a basic concept:  Is the cost of doing nothing more than the cost of buying life or disability insurance? When we have our health, and expect many years of longevity without accident or illness, the cost of insurance may seem like an extra and unnecessary cost.  Yet when we test a given situation with an unexpected loss of life or disability, the cost of doing nothing can be quite damaging:   Families are left to support the disabled income earner without the assistance of...

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Do You Need Travel Insurance?

October 23, 2013 10:47 am Published by

  As we settle into our Fall season, for many of us plans start expanding for sunny destination get-aways during our winter season.  Or maybe it is your Spring Break family trip, or that European trip next summer.  Before you finalize your travel plans, give some thought to the need for travel insurance.   What can Travel Insurance Cover? The standard Travel Insurance will cover the following Emergency Medical conditions ( see this sample from Manulife’s Travel Insurance). Read the fine print, as not all insurers cover the same costs.  Also a cheaper premium travel insurance might come with a larger...

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