Do You Need Travel Insurance Within Canada?

When people think of getting travel insurance, they often think of traveling outside of Canada, but did you know not all provinces would cover some of your emergencies? 

You should find out through the provincial healthcare for the province what is covered and what isn’t. For example, air ambulance wouldn’t be covered in Vancouver. Some provinces you have to pay ahead of time and get reimbursement after – so it is best to check what and what isn’t covered if you have health needs you are concerned of. 

We can help find a plan that works for your travel needs, call us at (416) 909-0400.

Drinking Alcohol on Vacation?

Vacations are a time to relax and have some fun – often times, this includes alcohol. But beware, accidents that happen while under the influence of alcohol or nonprescription drugs won’t be covered by travel insurance in many cases. Each policy may be different and may list a different allowance of blood alcohol level in their exclusions for insurance.

If you plan on drinking during your vacation, it’s best to not engage in high-risk activity right after. You’re more likely to engage in high-risk activity while under the influence of alcohol – which can cause harm, so it is best to not do so.

If you are planning on traveling, and need help figuring out the policy and understanding the fine print, we’re happy to help. Call us at (416) 909-0400.

Extreme Sports and Vacations

It’s May already! Yes, that means that it’s time to plan for summer vacations. This month we’ll help you learn more about travel insurance. Vacations are a great time to try new things – you’re in a new place, with new people. Many people try extreme sports and high-risk activities during their summer vacations – think skydiving or para-sailing. However, it is important to note that many insurance policies do not cover injuries caused by extreme sports.

If you are planning on a high-risk holiday activity, you’re best bet is to check it out with your policy and see if you will be covered. You may have read about the Canadian who visited America and unfortunately met in a skydiving accident with her parachute collapsing, causing her to fall from the sky and suffering a collapsed lung, broken pelvis, eye socket and brain swelling. She ended up with a $500,00 medical bill  - which was uncovered.

We can help find a plan that will cover your high-risk activities if you need, call us at (416) 909-0400 and we’ll help plan for you!

Are you protecting your spouse?

Life insurance is a very touchy topic for couples; it can be confusing and also an emotional conversation. However, it is a much-needed discussion. Life insurance is really a way of taking care of your partner and children, and not leaving them with a huge bill to struggle to pay.

We can help de-mystify the types of life insurance and help find an insurance option that matches your needs.

Generally speaking, there are 3 types of plans to choose from. All plans will be some form of these types:

Term: Think of this as your phone plan, it is a pay-as-you go plan. Your insurance term can be a 5, 10 or 20 year term and you pay monthly for it for the term. You are able to renew the plan upon the completion of a term (or up to age 65). The younger you are, the cheaper the premiums you can get – the older you are, the more expensive premiums are. If you choose to end the policy while you are still alive, this type of policy will not give you your money back.

Term to 100: A term to 100 is a similar to the term plan, but it covers you until age 100. As the term is longer, your premium will be less, and you will have coverage after 65 years. Again, there is no cash surrender value for this plan, so if you end the policy or past the policy coverage term, there is no money back guarantee.

Permanent: You may have heard of this as universal or whole life insurance. Your monthly payments depend on a variety of factors – age, job, health, wealth, etc, regardless, the premiums will much higher than term or term 100 policies. Your premiums will not change, and coverage is for your entire life regardless of age. With this policy, if you give up the liability for death benefit, you can cash the money that has built up in the plan (although it may take anywhere from at least 10 years to have a decent amount).

Everyone has different needs and are able to contribute differently. To learn more about the best options for you, speak with one of our insurance agents at (416) 909-0400.

2 in 5 Canadians Will Develop Cancer

2 in 5 Canadians Will Develop Cancer

Did you know that about 2 in 5 Canadians will develop cancer in their lifetimes and 1 in 4 will die of the disease (Canadian Cancer Society, 2013)? That is a scary statistic. Prostate cancer is the most frequently diagnosed cancer for men in Ontario, and breast cancer is the most frequently diagnosed cancer for women in Ontario.  Lung cancer is the leading cause of cancer death for men and women in Ontario.

After a cancer diagnosis, 63% of Canadians will survive 5 years later. Many Canadians cope with extreme stress, both mental and financial after a cancer diagnosis. Financial protection is pivotal during this period to help you get better.

Cancer Guard Insurance can give you this financial protection – you can receive a lump-sum payment of up to $100,000 from the date of your cancer diagnosis. With enhanced protection, you can also get additional coverage for other critical illnesses including heart attack, stroke, coronary surgery, paralysis and coma. Furthermore, the allowance that will be paid will be tax-free, allowing you to focus on getting well without financial worries. 

Cancer Guard Insurance comes in three types of protection: a 10-year term protection (renewable until age 75), a 20-year term protection (renewable until age 75) or a level term protection to age 75.

For more information, contact us at (416) 909-0400. 

The Number 1 Reason Why Couples Argue

Did you know that money is number 1 on the top reasons why couples argue? The lack of money can cause a strain on even the best of relationships. One of the biggest factors that result in money difficulties is the lack of planning ahead. If couples are faced with an unexpected event and cost without the resources to deal with it, it causes a strain in the relationship.

Couples can help reduce the tension brought on by money problems by planning ahead - getting a health and dental insurance plan help pay for prescriptions and emergency dental treatment when needed. There is no need to argue about how to come up with money for prescriptions and dental treatment if you have a plan in place. Having disability insurance can pay for costs associated with an unexpected injury or accident – which will allow your spouse to help take care of you and not worry about how to pay for the bills during your recovery. While health issues and other major illnesses can put a couple back financially, having insurance in place that can pay for these unexpected costs can surely help make sure that your spouse and you are always covered and are on the same page.