Let’s say you’re single, divorced or widowed. You have saved up some money for retirement. Perhaps you are already retired and are taking out an income from your registered plan. You may not get to spend all of your savings during your lifetime. Where does the balance go?
There is no question that confusion exists when it comes to the topic of life insurance, and where there is confusion, mistakes can happen. So, to help you learn from other’s experiences, here are some common life insurance mistakes to avoid before, during and after you make a life insurance purchase:
The European Central Bank (ECB) announced a number of new policy initiatives on March 10, including:
Buying a home can be the single biggest purchase an individual will ever make.
How much you will pay for life insurance is based on several factors including your age, health and smoking status. Check out this infographic to help you understand all the factors that may influence your life insurance quote:
Life insurance is an important part of your overall financial plan. We’ve put together some easy to understand video’s to help you get started with answering a few important life insurance questions.
As a follow-up to our recent post on when an irrevocable life insurance beneciary may not be so "untouchable", Peter Wouters, Director of Tax Retirement & Estate Planning Services at Empire Life, continues to provide his insights on a recent court case where life insurance proceeds were made available to a dependant - despite the same policy naming another dependant as an irrevocable beneficiary as part of a separation agreement.
Lessons to be learned? Find out.
An "irrevocable life insurance beneficiary" refers to a person that is designated to receive life insurance benefits from a life insurance policy or segregated fund contract where that designation cannot be changed without that person’s consent, and on the death of the life insured the benefits do not form part of the owner’s (if he/she is the life insured) estate. This is set out in the Insurance Act.
Global stock market volatility accelerated in recent days on renewed global economic weakness concerns. Continued economic and stock market weakness in China has received much of the blame for the recent volatility. Last week’s devaluation of the Chinese renminbi against the U.S. dollar was an attempt by the Chinese government to boost exports, but may also signal an economy that is weaker than official reports indicate.
Are you looking to purchase life insurance for the very first time and have no idea where to start?
