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Featured guide
Oneday officially announced its most ambitious move yet: the launch of Oneday Pro, a full agent-first life insurance platform backed by underwriting from Humania Assurance. This press release has been picked up by top media, including AP News, BusinessWire, Toronto Sun, National Post, Financial Post, Yahoo and more, here’s how the story spread, why …
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Four guides that answer the questions everyone asks first.
13 guides
When applying for life insurance, honesty about your health is more than just good practice, it’s essential. In Canada, insurers use medical information to evaluate risk and determine eligibility for coverage. Understanding how life insurance companies check medical backgrounds in Canada can help you prepare for the process and avoid surprises. From health questionnaires to doctor’s …
How Age Affects Life Insurance Rates is simple but powerful: the younger and healthier you are, the less you pay. In Canada, insurers price premiums using actuarial data, medical history, and smoking status to estimate risk. Age amplifies that risk each year, which is why costs rise as birthdays pass. Term life can lock in …
How does health affect the cost of life insurance? In Canada, health is the single biggest driver of price after age. Underwriters look at your medical history, BMI, smoking status, medications, and lab results to estimate risk. Strong markers of health often lead to preferred or elite rates. Chronic conditions, tobacco use, and concerning test …
12 guides
Life insurance coverage for financial planning helps you solve more than one problem. It can protect income, create tax-efficient liquidity, and support goals like estate equalization or charitable giving. In Canada, the right mix of term and permanent coverage can complement RRSPs, TFSAs, and corporate planning. You can also access cash values, secure buy-sell agreements, …
Life insurance isn’t just about replacing income, it’s about protecting your family’s full financial picture. Many Canadians underestimate how much coverage they truly need to cover debts, mortgages, and future education costs. That’s where structured methods like the DIME formula come in. It helps you look beyond simple income replacement and consider all the financial responsibilities …
When most Canadians start exploring financial protection, one of the first questions that comes up is, “How does life insurance work?” The answer is straightforward, but the details make all the difference. Life insurance is designed to provide your loved ones with a tax-free financial cushion when you pass away. This benefit helps meet your loved ones’ …
11 guides
Life insurance policies don’t have to be one-size-fits-all. Many Canadians choose to personalize their coverage by adding optional features known as riders. These add-ons can help fill gaps, extend benefits, or protect against unexpected life events like disability or critical illness. Insurance companies allow policyholders to add multiple riders to a single policy, providing greater …
A life insurance policy lapse can happen faster than most people realize. In Canada, it means your coverage ends because premiums weren’t paid on time and the grace period expired. When that happens, your loved ones, and your broader estate plans, can be left unprotected, and a family member who is named as a beneficiary may not …
As life expectancy in Canada continues to rise, insurance providers are exploring ways to help Canadians manage the financial costs associated with aging. To apply for critical illness insurance in Canada, you generally need to be a Canadian citizen or resident, and physically present in Canada at the time of application. If you’re fortunate, you’ve …
9 guides
Understanding what are the types of term life insurance helps you choose a policy that matches your goals and budget. Major Canadian insurers, such as Canada Life, offer a variety of term life insurance options. Canadians can select from level, decreasing, renewable, convertible, or annual renewable term options, each offering unique benefits. These policies are …
Term life insurance provides valuable financial protection for a set period, but eventually that period comes to an end. When your life insurance term ends, your coverage expires and benefits cease unless you take action to continue or change your policy. When it does, many Canadians wonder what happens next and whether they’re still protected. …
Choosing how long your term life insurance should be matters as much as the coverage amount. The right term can protect a mortgage, replace income, and cover childcare or tuition. It’s important to ensure your coverage lasts for the entire term needed to meet your financial obligations. Short terms cost less now. Longer terms …
7 guides
What is a life insurance policy lapse? It’s when your coverage ends because premiums weren’t paid on time and the grace period has expired. In Canada, this can happen faster than most people realize, and it can leave your loved ones without the financial protection your policy was meant to provide. Failing to make timely payments, …
Naming beneficiaries is one of the most important steps when buying life insurance. It determines who will receive the death benefit after you pass away. In Canada, you can name both a primary and a contingent beneficiary to make sure your coverage reaches the right people. While the primary beneficiary is first in line, the …
Life insurance offers more than peace of mind, it provides a financial lifeline for your loved ones when they need it most. Understanding how life insurance claims work in Canada helps ensure that process runs smoothly and that beneficiaries receive the payout without unnecessary stress or delay. From required documents to review timelines and payout rules, …
1 guide
Planning for the end of life is never easy, but ensuring your family isn’t left with unexpected bills is one of the most thoughtful steps you can take. Final expense insurance, sometimes called burial insurance, helps cover funeral, cremation, and related costs so loved ones aren’t financially burdened. Planning for funeral arrangements is an important part of …
1 guide
Many Canadians want coverage without the hassle of health exams. Understanding how no-medical life insurance works helps you see what’s available, how fast approval happens, and what trade-offs come with skipping a medical. No-medical life insurance is available to Canadian citizens and permanent residents, and eligibility may require you to have resided in Canada for …
1 guide
Oneday officially announced its most ambitious move yet: the launch of Oneday Pro, a full agent-first life insurance platform backed by underwriting from Humania Assurance. This press release has been picked up by top media, including AP News, BusinessWire, Toronto Sun, National Post, Financial Post, Yahoo and more, here’s how the story spread, why …
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