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Complete FAQ
A collection of Frequently Asked Questions.
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Are Critical Illness Insurance payouts taxable in Canada?
Critical Illness Insurance
Are Employee Group Benefits mandatory for Canadian employers?
Employee Group Benefits
Are Indexed Universal Life Insurance (IUL) or Variable Universal Life Insurance (VUL) policies available in Canada?
Universal Life Insurance
Are Lifestyle Spending Account (LSA) funds taxable to the employee?
Lifestyle Spending Accounts
Are Pre-existing Conditions Covered by Travel Insurance?
Emergency Travel Medical Insurance
Are Travel Advisories Covered by Travel Insurance?
Travel Insurance
Are employer contributions to a Group Retirement Plan mandatory in Canada?
Employee Group Retirement
Are life insurance premiums tax-deductible in Canada?
Life Insurance
Are medical questions or exams required to apply for critical illness insurance?
Critical Illness Insurance
Are medical questions required when applying for permanent life insurance?
Permanent Life Insurance
Are premiums for Buy-Sell Insurance tax-deductible in Canada?
Buy-Sell Insurance
Are segregated funds a good choice for estate planning?
Segregated Funds
Are segregated funds protected from creditors?
Segregated Funds
As an independent insurance broker, do you offer products from multiple insurers?
Garrett Agencies
Can Business-Owned Disability Insurance be customized?
Business Owned Disability Insurance
Can Buy-Sell Insurance cover multiple partners in a Canadian business?
Buy-Sell Insurance
Can I access the cash value in my Participating Life Insurance policy?
Participating Life Insurance
Can I add a secondary beneficiary to my life insurance policy?
Life Insurance
Beneficiary
Can I convert my Term Life coverage to an individual policy?
Engineers Canada Term Life
Engineers Canada
Can I enroll my spouse and children in a Global Medical Care plan?
Global Medical Care
Can I get an HSA?
Health Spending Accounts
Can I get life insurance with a pre-existing medical condition?
Life Insurance
Can I get my premiums back if I don’t experience a serious illness?
Critical Illness Insurance
Can I manage my own investments within a Group Retirement Plan?
Employee Group Retirement
Can I name beneficiaries in a segregated fund?
Segregated Funds
Can I renew my Term Life Insurance policy after it expires?
Term Life Insurance
Can I withdraw money from my Universal Life Insurance policy?
Universal Life Insurance
Can Travel Insurance Reimburse Hotel Costs?
Trip Cancellation & Interruption Insurance
Can Universal Life Insurance be converted to Whole Life Insurance?
Universal Life Insurance
Can a Business Access the Cash Value of Permanent Life Insurance?
Business Owned Life Insurance
Can part-time employees in Canada access Group Benefits?
Employee Group Benefits
Can you assist with both personal and business insurance needs?
Garrett Agencies
Do I need a medical exam for disability insurance?
Disability Insurance
Do I need a medical exam to get health care coverage?
Health Insurance
Medical Underwriting
Do premiums remain constant with age?
Permanent Life Insurance
Does Canada offer free long-term care?
Long Term Care Insurance
Does Travel Insurance Cover Every Destination Worldwide?
Travel Insurance
Does it mean I'm paying for medical expenses two times?
Health Spending Accounts
Does permanent life insurance ever expire?
Permanent Life Insurance
Doesn't the Canadian government offer disability coverage?
Disability Insurance
How Much Business-Owned Life Insurance Coverage Do I Need?
Business Owned Life Insurance
How Often Should a Business Review Its Life Insurance Policy?
Business Owned Life Insurance
How are dividends from Participating Life Insurance determined?
Participating Life Insurance
How do I choose the right term length for my Term Life Insurance?
Term Life Insurance
How do Lifestyle Spending Accounts (LSA's) differ from traditional health benefits?
Lifestyle Spending Accounts
How do resets work in segregated funds?
Segregated Funds
How do segregated funds differ from mutual funds?
Segregated Funds
How do universal life insurance and participating life insurance differ?
Participating Life Insurance
How do you ensure that I receive the most suitable insurance policy for my specific requirements?
Garrett Agencies
How does Business Overhead Disability Insurance support a business?
Business Owned Disability Insurance
Business Overhead Expense Insurance
How does Business Overhead Expense (BOE) Insurance differ from personal disability insurance?
Business Overhead Expense Insurance
How does Business-Owned Disability Insurance impact tax obligations?
Business Owned Disability Insurance
How does Buy-Sell Insurance work in Canada?
Buy-Sell Insurance
How does Critical Illness Insurance compare to Disability Insurance in Canada?
Critical Illness Insurance
How does Key Person Disability Insurance work?
Business Owned Disability Insurance
Key Person Insurance
How does Universal Life Insurance differ from Whole Life Insurance?
Universal Life Insurance
How does a Group Retirement Plan differ from a personal retirement plan?
Employee Group Retirement
How does age affect life insurance premiums in Canada?
Life Insurance
How does individual disability insurance complement group insurance?
Disability Insurance
How does my current age and salary impact the value of disability insurance?
Disability Insurance
How does permanent life insurance work in Canada?
Permanent Life Insurance
How does the cash value in a permanent life insurance policy work?
Permanent Life Insurance
How does the investment component of Universal Life Insurance work?
Universal Life Insurance
How is "total disability" defined in Key Person Disability Insurance?
Key Person Insurance
How is a Pre-existing Condition Defined in Travel Insurance?
Emergency Travel Medical Insurance
How is the benefit amount determined in BOE Insurance?
Business Overhead Expense Insurance
How is the value of a business partner’s share determined for Buy-Sell Insurance?
Buy-Sell Insurance
How long are premiums paid for permanent life insurance?
Permanent Life Insurance
How long do Business Overhead Expense (BOE) Insurance benefits last?
Business Overhead Expense Insurance
How long does Key Person Disability Insurance provide coverage?
Key Person Insurance
How long does Key Person Life Insurance provide coverage?
Key Person Insurance
How long does it take to get health insurance?
Health Insurance
Medically Underwritten Health Care Plans
Guaranteed Issue Health Care Plans
Guaranteed Acceptance Health Care Plans
How much disability insurance should I have?
Disability Insurance
How much life insurance coverage do I need?
Life Insurance
How much should I allocate for each employee's HSA?
Health Spending Accounts
I only see rates to age 65. Does coverage end at 65?
Engineers Canada Prime Health & Dental
Engineers Canada
Is Buy-Sell Insurance mandatory for businesses in Canada?
Buy-Sell Insurance
Is Emergency Travel Medical Insurance Necessary for Travel Within Canada?
Emergency Travel Medical Insurance
Is Insurance Necessary for Canadian Students Studying Abroad?
Student Travel Medical Insurance
Is Medical Insurance Necessary When Immigrating to Canada?
Visitors to Canada
Is Participating Life Insurance a good investment?
Participating Life Insurance
Is Term Life Insurance more affordable than Permanent Life Insurance?
Term Life Insurance
Is Travel Insurance Required for Visiting Canada?
Visitors to Canada
Is it necessary to include all employees in the HSA?
Health Spending Accounts
Is underwriting necessary for permanent life insurance applications?
Permanent Life Insurance
What Are the Differences Between Term and Permanent Business-Owned Life Insurance?
Business Owned Life Insurance
What Are the Implications of Getting Sick or Injured While in Canada?
Visitors to Canada
What Are the Tax Implications of Business-Owned Life Insurance?
Business Owned Life Insurance
What Doesn't Travel Insurance Cover?
Travel Insurance
What Exclusions and Limitations Apply to Travel Insurance Coverage?
Emergency Travel Medical Insurance
What Happens to a Business-Owned Life Insurance Policy If a Key Person Leaves the Company?
Business Owned Life Insurance
What are the Critical Illness exclusions under this plan?
Engineers Canada Critical Illness
Engineers Canada
What are the advantages of choosing Participating Life Insurance?
Participating Life Insurance
What are the benefits of Participating Life Insurance?
Participating Life Insurance
What are the benefits of having Buy-Sell Insurance for Canadian businesses?
Buy-Sell Insurance
What are the complete definitions of the covered conditions?
Engineers Canada Critical Illness
Engineers Canada
What are the cost factors for Business-Owned Disability Insurance?
Business Owned Disability Insurance
What are the deductible options available for Global Medical Care plans?
Global Medical Care
What are the differences between group and individual disability coverage?
Disability Insurance
What are the different types of Business-Owned Disability Insurance?
Business Owned Disability Insurance
Key Person Insurance
Buy-Sell Insurance
Business Overhead Expense Insurance
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