You might wonder whether premiums for life insurance are tax-deductible when you file your taxes. Sorry, there is no one-word answer. The most useful 2-word answer is “Usually – No”. Are Life Insurance Premiums Tax-deductible? Canada’s Income Tax Act, (ITA) allows for the deduction of insurance premiums. However, this complicated maze of rules is applicable…
It is 2023, and the world of Canadian life insurance has evolved in ways that were unimaginable only a few years ago. Not so long ago, Canadians who wanted to buy life insurance had only limited options; now they have access to an array of innovative products designed with their specific needs in mind. With…
Merger of Excellence Life Insurance Company and Industrial Alliance Insurance and Financial Services Inc QUEBEC CITY, Sept. 25, 2019 /CNW Telbec/ – iA Financial Group today announces the merger of two companies of its group: Excellence Life Insurance Company (hereinafter “Excellence”) and Industrial Alliance Insurance and Financial Services Inc. (hereinafter “iA Insurance”). Subject to regulatory approval, the…
Sept 14, 2021 Equitable Life Insurance Company of Canada made changes to its executive team on Tuesday. Donna Carbell has been hired as senior vice-president of individual insurance with Equitable Life, while Tara Proper has been promoted to senior vice-president of investments. They replace Karen Mason and Paul English, respectively, who are retiring at the…
RATING ACTION COMMENTARY Fitch Affirms Wilton Re’s Ratings; Outlook Stable Wed 11 Aug, 2021 – 9:58 AM ET Fitch Ratings – New York – 11 Aug 2021: Fitch Ratings has affirmed the ‘A+’ (Strong) Insurer Financial Strength (IFS) ratings of Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited (WREB), Wilton Re Overseas Limited, Wilton Reassurance Life…
With a Life Insurance Company With a Bank or Trust Company · You purchase an individual policy which is fully underwritten at time of application. · You get a certificate relating to a master group policy which is typically underwritten at time of death. · You own the policy – you…
Getting the benefit of the opinion from an independent broker who knows the basics of your situation is invaluable, and you have already paid for it. Every insurance policy in Canada is by law sold through a licensed agent, and that generates a commission or salary, even if the policy is bought online. So you…
Mortgage Insurance Explained Enclosed is a brief video showing 3 ways and reasons to save money on your bank mortgage insurance. 1.Do you want to receive the big discount available for being a non-smoker? At banks, smokers and non-smokers pay the same rate. This is a great deal for smokers, btw. 2. Do you want…
Term Life insurance is great for getting the amount of life insurance your family needs, at a cost you can afford. Here is an example of how to save more than 100% on Term Life Insurance! You can save over 100% on your life insurance premiums and save thousands of dollars. This may sound unlikely,…
Life Insurance is an economical way to financially protect your family from not having enough time to complete your plans. It is part of an overall strategy of Financial Planning (video). Life insurance can replace the income you would have earned to your family in case of an early death. The buying of life insurance…