780-370-0123      info@insuranceangels.ca

Frequently asked 

questions:

Find the answers to our most common questions below.

Frequesntly asked 

questions:

Find the answers to our most common questions below.

How is Insurance Angels different from other brokers?

We take the time to truly understand your needs. A Needs Analysis is a tool that is required legally because it helps insurance agents show you how much life, critical illness or disability insurance you may need. But, it doesn’t go into the reason WHY you are looking for insurance. An Insurance Angel will help you prioritize your risk further to find products that fit your budget now and as you grow. That makes us different.

I have been denied insurance before. Can you help me get coverage?

If you were denied illness or life insurance in the past you are always eligible for accident insurance. Remember though, accidents are only half of your risk. Just because one company said no, doesn’t mean that another will. There are insurance companies that may take you on as a client. The best way to check your eligibility for insurance is to talk openly with your trusted Insurance Angel. 

I have insurance through the bank. I keep hearing different things. Am I covered?

When a bank offers insurance, it is classified as “creditor insurance” because it is usually tied to a credit card, line of credit, mortgage or any type of loan. You pay the bank a monthly fee to cover your loan payments should you have a disability or critical illness. Ultimately it depends on what the bank gave you. If you were given life insurance without medical underwriting, there is a chance your beneficiary may not get paid out should tragedy strike. It is important to be aware that with creditor insurance you are paying a high fee to ensure that bank receives their payment, not you. It is always best to have your trusted Insurance Angel review your contracts to explain the jargon so you can understand your coverage and the best course of action moving forward.

Marijuana smoker over here…. Will I get charged smoker rates?

It depends on the company you go with. Some companies rate any inhalation of smoke as a smoker. Where others may say smoking marijuana four times a week, or less, may give you non-smoker rates. Check with your advisor and be honest. It doesn’t pay to lie, literally. 

I am 60 and facing retirement. My company has provided my life insurance throughout the years. I can take it with me but it is very expensive. What are your suggestions?

Insurability and cost depend on: health, age and budget. If you are a healthy individual you might be able to save money by purchasing NEW coverage. If you believe you could be hard to insure, opt for the employee plan while shopping around and going through underwriting. That way if you are denied coverage you are guaranteed coverage through your work plan. Once you reach the age of 60 your range of options reduce. It is best to understand the types of insurance available to you, how they work and then figure out how much insurance you really need and how it fits into your budget.

I was denied insurance because I admitted to doing / trying drugs like cocaine in the past. Now my family is without coverage.  Now what? 

Most agents work for companies that just say “denied” when a lifestyle question regarding drug and alcohol consumption is outside the level of acceptable risk, leaving you feeling like you are denied by the whole insurance industry. There are still options available to you. Let’s chat.

Registered Education Savings Plans – Where do I start? What are my options for my child’s future? 

First things first: The government is giving you money so take it. But! Be aware of ALL your options when setting up your child(ren)’s RESPs. The only way to know which is best for you is to educate yourself. Banks may offer the cheapest rates, but the growth is smaller. Some education fund companies offer wonderful products but make sure you read that find print. The options for how your money is invested it out of your hands in both scenarios. Put your hard-earned money to work and build that capital! Let an Angel share all your options with you. 

Get in touch

Have questions? Would you like to know more?

Contact us today for a review of your current coverage, and a free quote.

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