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Insurance

Types  Available

There are many different types of policies you can get in Canada.  Do your homework to ensure your family has the coverage they need.  The main types offered are life, car, health, home, as well as disability insurance.   There is also employment insurance (EI) that the government of Canada provides as temporary income to support unemployed workers while they look for employment or to upgrade their skills.

Where to Purchase

You can buy coverage from several different sources.  The four main sources are:

  1. a licensed agent
  2. a registered  broker
  3. an insurance company
  4. a lender when you apply for a loan

A life policy can only be purchased through a licensed insurance agent.  Also, you can purchase travel health insurance through numerous travel companies or auto associations.

Finding the Best Price

When looking to add coverage make sure you shop around to find the best value.  Check and determine if any of the associations you might belong to have lower rates based on group policies.  Also, be sure you are comparing apples-to-apples and read the policy carefully.

What are the Criteria?

Depending on the coverage you are looking at different criteria will be applied.  In general, companies or agents will look at the following:

  • age
  • gender
  • medical history (life insurance or disability insurance)
  • previous claims you’ve made
  • amount of coverage

When entering into an agreement like this, ensure that you are answering the questions accurately and honestly.

There are many things to consider when looking for types of insurance coverage.

 

What Is Home Insurance?

Insurance is one of those things that you pay and pay — and pay. Yet, you hope you never actually have to take advantage of the service you’re paying for. It’s there for times of trouble or disaster. And you need to have that peace of mind, but it comes at a price. And protecting your biggest asset with home insurance is essential.

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What Is Travel Insurance And Do I Need It?

You’ve booked your flight and hotel. Now all you have to do is start looking up things to do and places to eat, right? Not necessarily. To create a stress-free trip, it’s also important to consider protecting yourself from some of the pitfalls of travel. But what exactly is travel insurance, and do you need it?

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What Is Life Insurance?

Being an adult comes with a host of expenses that you can’t avoid, like food and shelter. Far too many people wince at adding the cost of insurance to their list of fixed expenses. But, life insurance is not a variable expense.

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