Life Insurance for Scuba Divers

Canada is known for its largest fresh water lakes in the world which makes it a place or destination to enjoy scuba diving. Many Scuba Divers go to Canada to enjoy this adventurous thing to do. Scuba Diving is known to be exciting more than ever now that you don’t have to rely on a breath hold or air pumped from the surface. It is now a lot safer and a free way to scuba dive by carrying your own air source in a tank. This allows divers to move freely under water more than that with an airline.

Scuba Diving is an adventurous thing to do without any doubt but with the adventurous things comes the risk of injury or dealth. There are a lot of factors to which you can have injuries and suffer problems while scuba diving. You can face injuries while scuba diving due to change in intense pressure, breathing high pressure gas can cause some problems for you, decompression sickness, oxygen toxicity, failure of diving equipments, loss of intense body heat and much more. But despite of so much risk you must be thinking why one would go scuba diving? Well the one who has already done or the experts in the field says – “There is nothing that we can compare with scuba diving deep under the water.”

Despite all these risk you must take some of the precautions if you are going for scuba diving. But what’s the most important thing that you must have while doing scuba diving? Well, the most important as well the most essential thing you must have is a life insurance policy. As a scuba diver you never know when you will be struck with trouble and lose your life.

So, if you are a scuba diver we will tell you the qualifications that is required by Canadian Life insurance companies. Below are the things that you must have before going to a life insurance company to obtain coverage.

  • Your Experience in Scuba Diving, along with the certification in the field
  • Your medical history
  • Dive Location
  • Diving Activities you do
  • The depth and frequency of dives as well as if you dive at night.
  • Your lifestyle

There are three things that likely to happen after applying for a life insurance policy, the policy will be issued standard, rated or even declined. If you are a diver who dives beyond a depth of about 120 feet under the water then you will be rated. And if you are suffering from some medical diseases like cardiovascular related problems or any respiratory breathing problems you will likely be declined by the insurance carrier. If declined you may opt for another option to get a non-medical life insurance coverage. You can opt for this non-medical insurance if you are 20 to 85 years of age, however premiums tend to be much higher for this type of policy.

So, these are the options available for you regarding opting for life insurance as a scuba diver as per Canadian life insurance standards. You must carefully read out all the terms and conditions attached to that particular life insurance plan and make sure that you are opting for the right plan for yourself and your family. Enjoy the diving and stay safe.

Getting the Best Life Insurance for the Business Owner

Anyone that has a business understands how important it is to be able to have a secure financial foundation. Numerous businesses have gone belly up all because they didn’t have the proper funding. Those individuals that are interested in making sure that their businesses have a financial future should consider life insurance for the business owner. This particular type of life insurance can be used for a variety of purposes. One of the main reasons people obtain life insurance for the business owner is to make sure that the person who owns the business has some sort of financial backing. Since things with businesses fluctuate so frequently, this type of insurance policy helps to protect a business owner in a variety of ways. From making sure that the business owner has his or her own monetary support outside of the business to making sure that there is always a form of collateral available, life insurance for the business owner is definitely something that all individuals that own a business should look at as a way to increase their revenue and the financial security of their business.

Business Owners and the Need for Life Insurance

Some may be wondering why do business owners need life insurance? ? Well, there are a number of reasons why life insurance for the business owner is a priority. Many business owners are looking for a way to fully protect their business. In order to do this, the life insurance policy for business owners provides a number of different assets which help an individual to secure the future of a business. Many of these policies include property and liability coverage which allows business owners to have a certain level of protection in regards to their business. In most cases, life insurance for the business owner is usually best for people that have small to medium-size businesses. These types of life insurance policies are usually considered package policies because they provide different types of benefits all in one. Life insurance for the business owner is very advantageous for anyone that wants the security of having financial backing for a variety of business ventures. These types of policies offer such benefits as the ability to accumulate assets, providing security for loans and even buy-sell agreement funding. Business owners that are interested in learning more about life insurance for the business owner should contact a local insurance broker for more information.

How Business Owners Can Obtain Life Insurance?

In order to apply for life insurance for the business owner, there are a number of qualifications that must be met. Most insurance companies do have a comprehensive application process for those that are interested in obtaining business life insurance policies. Individuals that are interested in these types of policies must be willing to provide detailed information about their business. This information can include everything from the number of employees to the amount of income to debt ratio a business currently possesses. By providing thorough, honest information about business assets, a life insurance company is able to gauge if they are able to provide a business with life insurance for the business owner.

Accessing Life Insurance Needs for a Business Owner

One of the first steps that is taken when seeking life insurance for the business owner, is to complete an assessment of business owner needs. By completing such an assessment individuals will be able to understand what it is they need from their life insurance policy. There are a variety of life insurance policies that are specifically geared towards those that own businesses. However, not all of the life insurance policies for a business owner are applicable to a specific business. Completing a thorough assessment with the assistance of a life insurance broker allows the life insurance broker to suggest products that are more compatible with the person’s business goals and current business needs. It is understood by life insurance companies that business owners have completely different needs than people that receive a salary from their employers. Business owners have a unique situation where they not only have to make sure that their business is protected but they also must have some form of personal protection as well. Many people that seek out life insurance for the business owner want to make sure that both their business and their personal assets are fully protected. A life insurance broker can provide the guidance and assistance in helping business owners to successfully obtain life insurance policies that will enable business owners to not only build their businesses but also protect both business and personal assets.

Thus, life insurance for the business owner is definitely something that all business owners should consider in order to have the security of knowing that their business is fully protected.

Grandparents Insuring Their Grandchildren

We all know how much grandparents love their grandchildren. It’s as if grandchildren are the younger versions of their mothers and fathers. Grandparents love their grandchildren, and they absolutely love being able to care for them. A number of grandparents are considering the financial futures of their grandchildren. This is especially the case if the parents are not in the best financial situation. A number of grandparents have considered obtaining life insurance for a grandchild in order to make sure that their grandchildren are thoroughly protected financially. While life insurance for a grandchild is nothing new, the concept of grandparents taking out life insurance policies on their grandchildren may be something that more individuals will consider. With many grandparents in their senior years, a number of them may have the resources to assist their grandchildren. For those grandparents that want to leave behind something for their grandchildren’s future, obtaining life insurance for a grandchild seems like a very good option.

What is Grandchild Insurance?

Life insurance for a grandchild is something that is not mentioned as much as other life insurance options. However, this type of life insurance is readily available for any grandparent that is interested in investing in their grandchildren’s future. Life insurance for a grandchild can be purchased from a major life insurance company. There are some stipulations for this type of insurance. Usually, there is an age limit to which the life insurance policy applies. These particular life insurance policies usually allow for coverage to begin several weeks to a few months after birth up to age 21 and in some cases 25. The life insurance for a grandchild must be purchased during these ages to ensure coverage. The reason that so many insurance providers promote life insurance for a grandchild is that grandparents can help build their grandchildren’s financial futures. Likewise, grandparents can obtain low rates on premiums for life insurance for their grandchildren. In many circumstances, this type of insurance is usually a lot easier to obtain than other insurance products. With life insurance for a grandchild, there is usually is not a health exam required and the premiums are so low that it is actually advantageous for grandparents to consider assisting their grandchildren’s financial future.

Why Many Grandparents Want to Insure Their Children?

There are a number of reasons why many grandparents want to apply for life insurance for a grandchild. As is the case, many grandparents see themselves as second parents to their grandchildren. Oftentimes grandparents are found buying gifts and providing financial support to on a consistent basis. This is especially case if the mother and father are not in the best financial situation. Circumstances such are the reason why life insurance for a grandchild is another reason why some grandparents choose to obtain this type of coverage. Even if the mother and father are not able to properly care for the grandchild after the grandparents’ demise, the child will still have a base of financial security. Life insurance for a grandchild is an excellent way for grandparents to give their grandchildren a head start in life. The money that is set aside in the insurance policy will grow over time and in some cases the grandchildren will be able to borrow against the money if so desired. These are just some of the many reasons why grandparents want to obtain life insurance for a grandchild.

What Are the Benefits of Grandchild Insurance?

Whenever life insurance for children is mentioned, there are a number of people that are somewhat on the fence about its value. Some people wonder why should anyone take out life insurance for a grandchild? This is a very good question because it really gets people thinking about all the things that could happen that would put a child’s financial future in jeopardy. The whole purpose of life insurance for a grandchild is to allow grandparents to make sure that their grandchildren’s future is secure. This type of life insurance provides benefits over the course of a child’s entire life. This is incredibly beneficial as most people usually have to buy their own life insurance when they are older. Also, life insurance for a grandchild is a benefit because it allows the money to accrue and eventually the child is able to borrow against the money if so desired. This is a benefit for any child that may want to obtain money for educational purposes. Likewise, if at some point the child wants to obtain additional coverage, they can do so and usually there is no health exam required. All these examples are reasons why many grandparents choose to obtain life insurance for a grandchild.

Thus, one of the best gifts that grandparents can give to their grandchildren is a life insurance policy for a grandchild. It is one of the best ways to ensure that grandchildren are financially secure in the future.

Life insurance for cancer sufferers

Insurance companies are in the profession of making money from their policies, they take a gamble on each policy they issue that they will gain more in premiums (and interest accrued on investing those premiums) they will be required to pay out in claims. It is not in an insurances company’s best interest to take on a policy that is likely to require a higher pay-out, than the amount paid in.

With regards to life insurance this poses a problem for people who are known to have existing medical conditionals, inherited diseases, or are diagnosed as critically ill (or any other factor that may reduce their life expectancy).

It is not in a life insurance company’s interest to offer them normal life insurance policies – they will probably lose money on the deal.

How does this affect Cancer patients, specifically those recovering from cancer treatment?

First of all, if you started your life insurance policy before you were diagnosed as having cancer, your insurance company cannot – by law – cancel the policy. This is especially important with regard to permanent insurance, and your policy is guaranteed for your whole life (as long as you keep up the payments). With “term” life insurance problems can arise at the end of the “term” as your insurance company may be loathed to renew the term upon news of your diagnosis, even if you are in recovery.

With annual term policies, you are advised to check your documentation, as although the concept of annual term policies is that the insurance company guarantees to renew you policy each year. Also there may be the ability to convert the Term insurance into a permanent product without having to prove good health.

Some insurance companies will outright refuse to accept a policy for someone who has, or is recovering from cancer, whereas others will accept a policy depending on the type of cancer.

Companies that do insure cancer, or ex-cancer patients will normally accept a policy holder if they had prostate, breast cancer (usually only stage one) or testicular cancer. They may also accept clients who had a cancer that was caught, and treated at an early stage.

Insurance companies that do provide Insurance for those recovering from cancer will normally require the following:

  • You must have gone for more than a specific period since your last cancer treatment (this can be as much as 5 years, but varies from company to company).
  •  You must be medically diagnosed as cured, or in remission.
  • You must have medical evidence (a certificate from your medical advisor) of your continued good health.

Even with the above conditions met, most life insurance companies will charge you a greater premium than that offered to the general public.

Sometimes it may be easier to get life insurance through your work if you are a recovering cancer patient. This is due to the fact that certain insurers are allowed to insure a whole collection of people (usually over 50) without individual medical conditions being taken into account.

Facing the possibility of not being able to obtain insurance because of your current or previous condition, it may be worth your while looking at your insurance needs:

  • Are you looking for insurance to pay off existing financial commitments in the event of your untimely death? You can opt for paying larger premiums to the company that you hold a debt with so as to clear it as early as possible.
  • Do you require insurance to take care of your funeral costs? A simple savings plan may be your best choice here, making sure that enough is put by and safe in an account you hold to pay for any immediate after death costs.
  • Is the insurance required to make sure your family are taken care of in the event of your death? Again a savings plan or investment plan may produce a larger return than a normal insurance policy. This has similar advantages to permanent life insurance, I that you can withdraw from your investment if you require funds for a specific reason (subject to the terms and conditions of your investment plan), and in the event of your death the amount in your investment portfolio will be passed on to your next of kin.

So if you are a cancer sufferer, or recovering from cancer, you do not need to despair that you cannot take out life insurance (or find it too expensive or restrictive to make it viable), you can always use standard investment tools to make sure that your next of kin are not overly burdened financially should you face an untimely death.