Tag Archives: news

In the news: Price of disability insurance drops across the board

The three main players in disability insurance in Canada have all within the last year announced premium decreases for their products. Starting with Manulife in late 2013, followed by Great-West Life and its subsidiary Canada Life in April, and now RBC Insurance. The reasons cited were to remain competitive in the individual disability insurance marketplace and changing morbidity trends. Morbidity is the rate of disabilities among the general population, similar to how mortality is the rate of death. The lowering of premiums means that morbidity is decreasing.

In the news: Canadians need life insurance, but fewer are buying

Most Canadians understand that life insurance is an integral part of a sound financial plan. The death benefit helps pay off debt and provides an income for the survivor and should be top priority for the average Canadian. Despite this, in a new article published by Investment Executive, statistics show that fewer Canadians are purchasing life insurance compared to three decades ago. Although the percentage of people who have life insurance is on the decline, the need for life insurance is not. What can be done to reverse this trend?