Longer term, term.

Term insurance has a solid place as part of most Canadians' financial portfolio. The amount of protection that can be offered at reasonable premiums for short periods of time should not be overlooked. Specific needs can be covered with the various types of term offered. Mortgages for example tend to run for 20 or 25 years, and when the mortgage is over, that particular need is also gone.

Common to Canadians is the popular 10 year term insurance. Premiums are usually guaranteed level for the first 10 years, then if the need continues and the client wishes to renew, the insurance is offered for a second 10 year period at a predetermined price. Older term policies however renew with the OLD rates books which were in effect several years ago.

Since the cost of “term” has come down in recent years, if one is “insurable” and willing to undergo common insurance related questions and testing, NEW term insurance rates can save you a lot of cash.

A typical 40 year old with an older 10 year term policy can save up to 30 or 40% by switching to a NEW 20 year term policy.

This is only an example, yet in most cases, clients can save lots of hard earned cash, and the savings can be used anywhere you want.

You can define your path

The Un-Sale

You won't find people lining up outside the offices of financial planners on Boxing Day. Likewise, Canadians won't be heading south of the border on Black Tuesday for a bargain on premiums. Insurance products never go on sale, and its due to their nature. It's not a consumer market of goods that needs clearance to make way for next season's merchandise.

It's about continuity, consistency and security.

That being said, there exists favourable times where one can take advantage of an opportunity. It is my personal ethics that define my approach to selling. I don't convince people of anything. I simply give them the facts, and if they are interested, I can sell it to them.

Currently the facts point to a window of opportunity in Critical Illness and Universal Life Insurance.

Insurance companies have to be very secure, and with low rates of return in markets worldwide, insurance funds have not achieved their projected targets over the last few years. Deductively, premiums will have  to rise between 15-17% next month, and thus are currently underpriced. This knowledge creates a "sale" of sorts, and we are happy to share this information with our clients.

Contact me for more at 1.902.444.7000 or visit my website here.

For more info, see this Financial Times article:

http://www.financialpost.com/opinion/columnists/time+insurance/5503230/story.html