May 2006 Archives

Term insurance has a lot of choices in Canada. The following is some coverages provided by Manulife Insurance.

Manulife offers several types of term life insurance coverage to meet your needs.

Family Term is the ideal choice for both temporary and life-time needs of families. It gives you assurance that your entire family will be taken care of when you die. It can provide an ongoing income to maintain your family's current lifestyle, pay off your mortgage or debts and provide money for your children's education.

Business Term is the ideal term choice for business owners. It offers low-cost life insurance protection that can be customized for your company's specific needs and fit within your business’s cash flow. If you or a key person were to die unexpectedly, insurance can ensure that your business continues to provide enough funds for your beneficiaries to cover potential capital gains taxes and the collateral needed for debt financing.

The Financial Services Commission of Ontario (FSCO) has approved an average fourth-quarter rate decrease of 2.56% for 12 companies representing almost a quarter of the Ontario private passenger auto insurance market.

The average rate decrease for the first, second, and third quarters were 1.12% (7.5% of the market), 1.62%(45.79% of the market) and 1.62%(61.82% of the market), respectively.

Rate changes approved for the entire market averaged a decrease of 10.6% in 2004, FSCO recently announced on their Web site. In 2005, approved rates declinded by 2.43% for the entire market.

"The rate changes posed reflect cost savings measures arising from recent reforms to the automobile insurance system, which are being passed onto consumers in the form of lower rates," FSCO says on its web site. "The approved rate change shown for each insurance company is the average for that particular company. The impact of a rate change on an individual consumer will vary depending on where the consumer lives, the type of car he or she is driving, and other risk characteristics."