Femi Ajakaiye

Mortgage protection life insurance is a sort of life insurance that helps homeowners pay off their mortgage if they die. Its primary goal is to provide your family with financial stability and peace of mind by preventing them from losing their house as a result of unpaid mortgage debt. This…

Two separate term life insurance plans are the ideal choice for the majority of couples since they provide complete protection for both partners at a fair price. For instance, if Partner B purchases $300,000 CAD coverage for around $30 per month and Partner A purchases a $500,000 CAD policy for…

If you have life insurance in Canada, you’ve likely heard financial advisors talk about putting a life insurance policy in a trust. For some families, it’s the best estate planning move they can make. To others, it could be an unnecessary expense. What Is a Trust in Life Insurance? A trust is…

If you’ve ever looked over your work benefit package, you might have seen something called ‘voluntary life insurance.’ (VLI) It’s generally listed as an option along with health insurance, 401(k) plans and basic life insurance through your employer. This guide includes everything you need to know: What Is Voluntary Life Insurance?…

If you live in Canada and you have investments, real estate, or a business, knowing about life insurance capital gains tax isn’t just something nice to know, it’s an essential part of financial planning. Many believe that life insurance is always 100% tax-free. Some  are concerned that a big tax…

Insurable interest in life insurance is a financial interest that the policyholder has in the life of the insured, which means that the policyholder may suffer a financial loss if the insured died. In simple terms, the insured person’s life must have an economic value for the policyholder or a non-insured…