Canadian LIC | Affordable Insurance Policy Providers in Canada

For many families and individuals, affordability is the key to building their futures with life insurance. Generally, various options for life insurance exist in Canada, each one being targeted at the fulfillment of different needs. Among all types of insurance, Term Life Insurance is considered by many to be far more straightforward and a great deal less expensive than permanent insurance products, such as whole or universal life insurance. But is this, in fact, the most cost-effective kind of life insurance? Let us break it down and see how Term Life Insurance Plans in Canada match up against other types of life insurance. What Is Term Life Insurance? Term Life Insurance provides coverage for a specified period or "term," generally 10, 20, or 30 years. If the covered dies during such a term, his beneficiaries will be paid a tax-free death benefit. If he outlives the period, in which case there is no payout, he faces policy expiration unless the policy is renewed or converte...

When life throws you a curveball, making you bedridden due to some sickness or injury, a safety net is important. Disability Insurance provides this vital safety net, which is directly aimed at giving you financial security when, because of some sort of disability, you are no longer able to bring in an income. In Canada, navigating the different types of available Disability Insurance is often very confusing. It is not the most pleasant subject, but understanding your options serves to prepare you for some unexpected life situations that could happen. This blog focuses on the different types of Disability Insurance in Canada and how they can support you. At times, you literally have no idea what to do. Short Term Disability Insurance: A Temporary Safety Net Short Term Disability Insurance provides immediate financial support during the early days of your disability. It usually covers 60-70% of your regular income and is essential in the early days of recovery. This is one form of fina...

When staying in Canada for a longer period of time, each little detail should be learned, especially in the case of the Super Visa program. Super Visa Insurance is something without which staying in Canada for an extended period is a must for parents and grandparents. It has to be taken with care to be fully compliant and protected. One of the popular questions is if there is any waiting period before Super Visa Insurance coverage kicks in for Canada. This blog goes over that question, presenting the insights of top Super Visa Insurance Companies and tips by experienced Super Visa Insurance Brokers that can help lead an applicant. Understanding Super Visa Insurance Requirements The Canadian government requires medical insurance from a Canadian company for all applicants for the Super Visa. The policy should provide at least $100,000 in coverage and be valid for at least one year starting from the date of entry. One needs to understand the terms, including any waiting periods, to ensur...

In the complicated insurance world, how an individual can maximize his or her coverage without complicating his or her policies is very instrumental. Among the many questions that Canadians raise is whether it is possible to attach Critical Illness Insurance as a rider to any existing Life Insurance Policy. This blog will let you know if it's possible to integrate Critical Illness Insurance with your Life Insurance in Canada, together with the benefits and considerations of doing so. Understanding the Basics First, let us explain what a "rider" is. A rider in insurance parlance refers to an addendum or a change to an already existing policy that confers additional benefits or coverage to the holder. Riders are usually taken to modify insurance policies to suit the needs of the person buying the policy without having him purchase another policy. Critical Illness Insurance Coverage , however, seeks to offer financial relief in the event of serious illness. It provides for a...

Moving to a new country for work can be fascinating and has lots of challenges. Indeed, Canada is enriched with cultural diversity, beautiful landscapes, and high living standards, making it the best destination for professionals from all around the world. If you are moving to Canada on a work visa, there is likely to be a list of things you need to sort out—from securing a place to stay to getting familiar with transportation in the local area. But have you thought about your health and safety? Specifically, are you required to have Visitor Insurance if you're travelling to Canada on a work visa, and what happens if your stay gets extended? In this blog, we will discuss why you need Visitor Insurance even if you are on a work visa, how to choose the right policy, and whether you can extend your Visitor Insurance Coverage if needed. Why is Visitor Insurance Important for Work Visa Holders? You may question, "I'm on a work visa, so why would I need Visitor Insurance?" ...