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life insurance at age 70

life insurance at age 70

CANADA-Life Insurance - LIFE INSURANCE Canda?

Extremely important, please read, check your insurance policies with Canada and does answer. Do you have Canadian Tire Term Life Insurance with Canada (Canada Life)? Did you know that Canada Life will double the premiums to age 64 years and at age 65, they will automatically cancel your insurance? But on their website, they say that you are covered until age 70. Please check your insurance and do not answer. Thank you MC

This is not a problem with Canada Life, is a question Canadian Tire. Canadian Tire goes to the insurer and said we want to sell life insurance, so that Canada gives them the life of a product they can sell is profitable for Canadian Tire (do not misunderstand, Canadian Tire is selling to make money, not to help people). All companies offering insurance on the side that are not actual insurance companies (IE: MasterCard, Visa, Sears, insurance by banks, etc.) are all designed nearly in the same manor and they are not regulated so they can make whatever rules they want. This is no different any other "group" or term insurance you buy. It will increase in the price and eventually cancel. NEVER buy insurance of any kind of someone which is not an agent linscensed because he probably is not the best on the market and the person is very misinformed about the actual product.