In the last few months, the spread of COVID-19 has changed the course of life for people across the country.  Businesses have been forced to change their procedures and find alternative means of interacting with clients; the insurance business is no different.

Purchasing life insurance is one of the most significant financial decisions of your life. A strong life insurance policy will help you achieve long-term financial goals and keep your family and your business financially secure. As buying the right insurance policy requires a great deal of effort and research, we advise you to work with a qualified insurance broker to navigate the process of shopping for insurance for you. 

The truth is that very, very few people who would have been recently insurable in the first place have died of COVID-19 in Canada.  The vast majority of deaths from the Corona Virus have been amongst the elderly and already sick.  For this reason, term life insurance premiums have not been affected at all.  We do, however, expect increases in permanent (whole life) insurance due to record low-interest rates. 

When the virus was largely confined to China, North American investors didn’t pay much attention. But when cases in Italy grew, they became concerned. If people cannot go to work, due to sickness, quarantine or school closures, there will be economic disruption. As such, stock markets are down more than 20% from their record highs. In good news, the bonds in your portfolio have done their job and tempered the losses in stocks.

Every industry has its own language and terms. These words and phrases can be confusing to anyone who is not part of the daily operations of a specific industry, and the insurance business is no exception.

For many, finding the right life insurance policy can be a task, especially when the subject matter is difficult to comprehend. While trying to find out more information about life insurance, you may have a ton of questions about the coverage offered and the role of a financial advisor. Unfortunately, finding answers to these questions may be difficult to come by. To ensure you have all your doubts cleared and are armed with the most accurate information, Camlife Financial Corp has answered four of the most frequently asked questions about life insurance. 

When it comes to insurance policies, people often have a lot of questions, not only about the plan features but also about the company offering the insurance products. They want reputed insurance agents that provide services based on their needs and are concerned about their future, instead of money-driven agents. 

A life insurance policy is a contract with multiple benefits. It offers your dependants financial support in the event of your demise and serves as a wealth accumulation tool when it matures before your death. It also helps you save on taxes and obtain financial aid from banks when you need it.

Physical disabilities due to accidents and injuries or unexpected death can threaten you and your family’s financial security. To protect your family’s financial well-being, it’s essential to have an insurance policy in place. Insurance policies are based on your current and projected ability to pay the insurance premiums, your medical state, your age, and future financial plans, amongst other factors. 

Thanks for stopping by our blog. If you’re looking for more information about Camlife Financial Corp, you’ve come to the right place.

I’m Casey Cameron, the proud owner of Camlife Financial Corp.

I look forward to sharing my story. I hope that you will enjoy getting to know me better.

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