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Category: Life Insurance

Has Purchasing Life Insurance Changed Since 2020?

December 1, 2022Blog, Life InsuranceMaclean Rowe

During this stressful and challenging time, many are wondering what effect COVID-19 could have on their life insurance. Some may be worried that the insurance companies would make changes to their existing policy due to coronavirus concerns, resulting in an increase in their premiums or a restriction to their coverage. It should be reassuring to all that insurance companies are generally not able to change the contractual provisions of the insurance policies that are in force.

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Shielding Your Family From Your Creditors With Life Insurance

October 5, 2022Blog, Debt, Life InsuranceMaclean Rowe

Naming a beneficiary of a life insurance policy provides a significant benefit in planning and protecting one’s estate. With a named beneficiary, the death benefit is paid directly to the beneficiary and is received tax-free. It bypasses the policyowner’s estate and is not subject to probate or any other administrative fees.

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Group Life Insurance – Only Part of The Solution

September 1, 2022Blog, Group Benefits, Insurance, Life InsuranceMaclean Rowe

If your goal is to replace income for your family for more than 2 years, you may want to add an individual policy to your group insurance coverage.

According to the same LIMRA study, on average, households with only group coverage can replace the household’s income for less than 2 years. Households with both group and personal life coverage can replace income for more than 5 years.

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Is it Time for Your Insurance Audit?

August 1, 2022Blog, Insurance, Life InsuranceMaclean Rowe

Has it been awhile since you last looked at your insurance portfolio?

Are you a little vague in your recollection of all the coverage you have and why you have it?

Are you uncertain as to whether or not your portfolio reflects your current situation?

Just like going to the dentist for regular checkups is a necessary evil, reviewing your financial plan and products on a regular basis is also recommended. Circumstances can change over time and making sure your protection is keeping pace is a worthwhile exercise.

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What Is The Right Age To Purchase Life Insurance?

November 1, 2021Blog, Life InsuranceMaclean Rowe

Deciding when you should purchase life insurance varies by person and the individual’s circumstance. But there are both benefits and drawbacks to purchasing life insurance at certain ages. Although the general consensus is that you should purchase when you are younger, there is no “wrong” age to consider purchasing life insurance.

That’s a good thing. Chances are your family may change or grow at different stages of your life, prompting you to consider purchasing a certain life insurance policy at different ages. Below we take a look at why it is a good idea to have life insurance at any age.

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Don’t Qualify For Traditional Life Insurance? Consider These Options

July 1, 2021Blog, Insurance, Life InsuranceMaclean Rowe

It’s no secret that traditional life insurance, critical illness insurance and disability insurance offer amazing benefits to those who qualify for the policies. Through these plans, people can protect their families, their businesses, and their livelihoods against the unexpected occurring and disrupting their lives. Unfortunately, however, these policies often don’t extend to people who are facing serious health problems and who may need life insurance the most.

Several years ago, two alternative insurance products were offered to help cover people who may have fallen through the cracks when it comes to life insurance. These two new products fall into one of two insurance product categories: guaranteed issue and simplified issue.

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Who Should Own My Life Insurance?

April 1, 2021Blog, Insurance, Life InsuranceMaclean Rowe

The planning considerations of where and how to own your life insurance can be varied and sometimes complicated. It is important to remember that who owns the policy, controls the policy. The owner has the right to name a beneficiary, assign the policy, take cash value loans or even cancel or surrender the policy. The insured does not have to consent to these transactions although there are steps available to require his or her permission when necessary. This article focuses on the main, but not all, issues in determining the ownership of a life insurance policy.

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Diversifying in Uncertain Times

November 1, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Estate Planning, Investment, Life InsuranceMaclean Rowe

Uncertain about where to invest during Covid-19? It may be time to diversify through a Participating Whole Life policy

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How Will COVID-19 Impact the Insurance Industry?

August 4, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Insurance, Life InsuranceMaclean Rowe

During this stressful and challenging time, many are wondering what effect COVID-19 could have on their life insurance. Some may be worried that the insurance companies would make changes to their existing policy due to coronavirus concerns, resulting in an increase in their premiums or a restriction to their coverage. It should be reassuring to all that insurance companies are generally not able to change the contractual provisions of the insurance policies that are in force.

Read More

Term Life Insurance – Two Valuable Options

July 2, 2020Blog, individuals, Insurance, Life InsuranceMaclean Rowe

For many Canadians, especially those with young families, term life insurance is most often the product of choice for protecting one’s family. The major reason for this is that it is the lowest entry-level cost to purchase life insurance.

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Recent Posts

  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?
  • Now May Be a Good Time to Review your Estate Plan
  • Shielding Your Family From Your Creditors With Life Insurance
  • Group Life Insurance – Only Part of The Solution

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Contact Us

Gaire Maclean, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: gaire@macleanrowefinancial.com

Tannis Rowe, BA, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: tannis@macleanrowefinancial.com

#1810 – 1075 West Georgia Street
Vancouver, British Columbia
V6E 3C9

info@macleanrowefinancial.com

Latest Posts

  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?
  • Now May Be a Good Time to Review your Estate Plan
  • Shielding Your Family From Your Creditors With Life Insurance
  • Group Life Insurance – Only Part of The Solution

About

MacLean Rowe Financial’s boutique approach to financial advice affords clients with the individual attention they deserve to achieve their goals and objectives.
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